Gordon Campbell | Parliament TV | Parliament Today | News Video | Crime | Employers | Housing | Immigration | Legal | Local Govt. | Maori | Welfare | Unions | Youth | Search

 

CTU: Independent Budget Analysis

Bill Rosenberg and Ganesh Nana deliver independent Budget analysis

Reflecting on the Coalition Government’s first Budget yesterday, Dr Bill Rosenberg posed the question why the Government won’t increase spending to 30 percent of GDP, at least.

"The Government is understandably and justifiably spending on capital projects such as hospitals, schools, housing and transport infrastructure. The direction of the Budget is good, but it is much too timid in addressing the evident problems throughout our public services.

"The social pressure that has been created would be relieved if more could be borrowed, as it can be at interest rates available to the Government averaging just 3.6 percent.

"Our net debt levels are no way near worrying. If we applied a wellbeing framework to the matter, I have no doubt that the dangers to our wellbeing - our social, human and natural capital would far outweigh the risks in say a net debt target of 10 percent of GDP including the Super Fund.

"That would allow prudent borrowing to free up sufficient revenue to fund the difference between current Government operational spending and 30 percent of GDP and allow attention to be paid much more quickly and adequately to our failing services."

BERL Chief Economist Dr Ganesh Nana described the Budget 2018 as "oozing fiscal responsibility".

"The Budget announcements loosened the purse strings in numerous areas. However, this Coalition Government will find their ambitions for transformation and a ‘productive, sustainable, inclusive economy’ well and truly pincered unless they modify their self-imposed Budget Responsibility Rules (BRR)".

Media pack of background documents, further quotes, photos and Q and A video available here: www.union.org.nz/budget-2018-media-resources/
ENDS

© Scoop Media

 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Budget 2018: "Better Lives For Children"

Budget 2018 builds a better future for New Zealand children, with major investments in health, education, housing and justice to improve thousands of children’s lives, says Prime Minister and Minister for Child Poverty Reduction Jacinda Ardern. More>>

Gordon Campbell: On Budget 2018

To put it mildly, Budget 2018 has not been an outbreak of wild-eyed, tax and spend liberalism. “Unfortunately not,” says CTU economist Bill Rosenberg agrees laconically. “But what you're seeing and within the constraints [the government] have set themselves, they’ve done quite a good job of beginning to eat away at the deficits that have built up over the years. Not only the social deficits, but also in areas like economic development, the provinces, bio-security and so on.” More>>

Budget 2018 - Scoop Full Coverage

 

Corrections Officers: 600 New Prison Beds Not Enough

Finance Minister Grant Robertson announced 600 new prison beds to be built in modular units by the end of next year, but would not say whether the extension of Waikeria Prison would go ahead. More>>

ALSO:

Peters Returns: Visit Reinforces New Zealand-Japan Relationship

Deputy Prime Minister and Minister of Foreign Affairs Winston Peters has departed Tokyo following a productive three-day visit to Japan. More>>

ALSO:

Gordon Campbell: On Regressive Taxes

The headlines would have you believe that inflation is safely under control, but a Statistics NZ press release indicates that isn’t the reality being experienced by the poor, given how the steeply rising costs of smoking, petrol, rent etc are falling disproportionately on low to middle income earners. More>>

ALSO:

Overlapping Treaty Claims: ‘You Are Taking Us To War’

Treaty Negotiations Minister Andrew Little was speaking about the treaty process and the importance of communication when he was challenged by a kaumatua from Tauranga Moana. More>>

ALSO:

Workplace Harrassment: Rights Body's Policy Inadequate

"Judge Coral Shaw’s report confirms what our members at the HRC have told us: that the workplace culture at the HRC needs to be addressed," PSA National Secretary Glenn Barclay says. More>>

ALSO:

Charter Schools: Transition Begins

As the next step in the transition of charter schools into the state school system, the formal process to end charter school contracts is starting today, Education Minister Chris Hipkins says. More>>

ALSO:

Labour & Labour: 'Not All Businesses Will Survive' Employment Changes

Q+A Transcript: Workplace Relations Minister Iain Lees-Galloway says New Zealand needs a high-skill, high-wage economy and accepts that some businesses will not survive some of its policy changes. More>>

ALSO:

 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

Featured InfoPages