

https://www.scoop.co.nz/stories/HL1005/S00166/budget-2010-full-coverage-may-20th-2010.htm

Budget 2010 - Full Coverage - May 20th 2010

Thursday, 20 May 2010, 6:01 pm
Article: Scoop Budget News Alerts

BUDGET 2010: FULL COVERAGE

http://www.scoop.co.nz/features/budget2010.html

[1] - http://www.treasury.govt.nz/budget/2010
[2] - http://www.beehive.govt.nz/feature/budget2010
[3] - http://www.taxguide.govt.nz/

BUDGET 2010 - REPORTAGE & COMMENTARY

Scoop Business: Finely Balanced Tax Package Depends On Growth

Personal and company tax cuts announced in the Budget today will cost more than the GST increase and clampdowns on tax dodges until 2013/14, and will only ever be fiscally neutral as long as the economy grows as strongly as the Treasury forecasts. More>> http://business.scoop.co.nz/2010/05/20/finely-balanced-tax-package-depends-on-growth/ [1]

[1] - http://business.scoop.co.nz/2010/05/20/finely-balanced-tax-package-depends-on-growth/

MORE BUDGET COVERAGE FROM BUSINESSWIRE:

Scoop Business - Recovery gives NZ tailwind to rebalance economy [1]
Scoop Business - Biggest tax package in a generation [2]
Scoop Business - Depreciation write-offs: here today, gone tomorrow [3]
Scoop Business - Govt closes loophole and aligns LAQC tax rates [4]
Scoop Business - Tax on savings vehicles cut to 28% [5]
Scoop Business - NZ budget won’t undermine credit rating: S&P [6]
Scoop Business - NZ trims debt sales plan as fiscal outlook lifts [7]
Scoop Business - Indexation loss tightens screws on WFF [8]

Sludge Report #192: The Naked Budget

Finance Minister Bill English's second budget is an exercise in minimalism in everything but tax. And in that respect the changes announced today have been so well flagged that there is little news today besides the sweeping income tax cuts which will take effect from 1 October. Tax cuts for all! More>> [1]

[1] - http://www.scoop.co.nz/stories/HL1005/S00161.htm

Trans Tasman: Budget Special 2010

In the biggest reform of the NZ tax system in 25 years, Bill English has cut income tax rates, raised GST to 15%, and cut company tax to 28%. Kiwis on the average wage will be about $15 a week better off , and an average family about $25 a week better off. More>> [1]

[1] - http://transtasman.co.nz/home/free-articles/budget-special-2010.html

The Weekly Coitus Link: Rich Get Vital "Hand Up" In Budget

Many financially well-off New Zealanders struggling to pay for expensive new shit will soon have crucial assistance from the National government's drastic tax cuts. More>> [1]

[1] - http://weeklycoitus.co.nz/?p=1259

BLOG LINKS

Public Address Out-Link - OnPoint: Budget 2010: What'd you expect? [1]
No Right Turn Out-Link - Who benefits from National's tax cuts? [2]

[1] - http://publicaddress.net/6629#post6629
[2] - http://norightturn.blogspot.com/2010/05/who-benefits-from-nationals-tax-cuts.html

BUDGET 2010 - THE REACTION - FULL COVERAGE

BUDGET DEBATE SPEECHES - AS PREPARED

Greens - Dr Russel Norman: Budget Speech [1]
Maori Party - Budget 2010 - Maori Party [2]
Progressive Party - Let Them Eat Cake! [3]
ACT - Hon Rodney Hide, ACT Leader,Budget Speech 2010 [4]

[1] - http://www.scoop.co.nz/stories/PA1005/S00325.htm
[2] - http://www.scoop.co.nz/stories/PA1005/S00330.htm
[3] - http://www.scoop.co.nz/stories/PA1005/S00333.htm
[4] - http://www.scoop.co.nz/stories/PA1005/S00335.htm

PARLIAMENTARY REACTION

Labour

Labour - John Key's tax swindle [1]
Labour - Tax swindle Budget a backwards step [2]

[1] - http://www.scoop.co.nz/stories/PA1005/S00337.htm
[2] - http://www.scoop.co.nz/stories/PA1005/S00340.htm

Progressive Party

Progressive Party - Let Them Eat Cake! [1]

[1] - http://www.scoop.co.nz/stories/PA1005/S00329.htm

Greens

Greens - Key's triple deficit Budget [1]
Greens - Essentially a cut for tertiary education [2]

[1] - http://www.scoop.co.nz/stories/PA1005/S00323.htm
[2] - http://www.scoop.co.nz/stories/PA1005/S00339.htm

The Maori Party

Maori Party - Just the beginning - here for the long term [1]
Maori Party - $100 million: Support to live their own lives [2]
Maori Party - $9 million: Support for Maori business [3]
Maori Party - $19.8 million: Restorative approach to offending [4]
NZ Govt - Tariana Turia - Human Rights Commission [5]

[1] - http://www.scoop.co.nz/stories/PA1005/S00318.htm
[2] - http://www.scoop.co.nz/stories/PA1005/S00319.htm
[3] - http://www.scoop.co.nz/stories/PA1005/S00322.htm
[4] - http://www.scoop.co.nz/stories/PA1005/S00321.htm
[5] - http://www.scoop.co.nz/stories/PA1005/S00338.htm

ACT

[1] - http://www.scoop.co.nz/stories/PA1005/S00324.htm
[2] - http://www.scoop.co.nz/stories/PA1005/S00328.htm
[3] - http://www.scoop.co.nz/stories/PA1005/S00331.htm

United Future

NZ Govt - Dunne: Budget Tax Bill introduced [1]

[1] - http://www.scoop.co.nz/stories/PA1005/S00336.htm

************

Non Parliamentary Political Reaction:

NZ Alliance Party - National's budget "blueprint for social breakdown" [1]
Socialist Worker - Tax justice campaign launched nationwide [2]
Family First - ETS Will Cancel Benefit of Budget to Families [3]
The Kiwi Party - GST Increase Disastrous for First Home Buyers [4]

[1] - http://www.scoop.co.nz/stories/PO1005/S00209.htm
[2] - http://www.scoop.co.nz/stories/PO1005/S00213.htm
[3] - http://www.scoop.co.nz/stories/PO1005/S00216.htm
[4] - http://www.scoop.co.nz/stories/PO1005/S00218.htm

Health Sector Reaction:

NZ Medical Association - Budget a Mixed Bag - NZMA [1]
Medical Technology Association of NZ - Squeezing the health dollar need not hurt patients [2]

[1] - http://www.scoop.co.nz/stories/GE1005/S00105.htm
[2] - http://www.scoop.co.nz/stories/GE1005/S00106.htm

Education Sector Reaction:

Tertiary Education Union - Austere Budget Limits Student Learning Potential [1]
Auckland University Students Association - Fee changes see Auckland students worse off [2]
NZEI - Budget Launches Attack on Quality Teaching [3]
NZ Union of Students' Associations - Lost opportunity for a real ‘stepchange’ [4]
NZ Childcare Association - ECE budget brutal blow to children and families [5]
Industry Training Federation of NZ - Budget shows commitment to training [6]

[1] - http://www.scoop.co.nz/stories/ED1005/S00082.htm
[2] - http://www.scoop.co.nz/stories/ED1005/S00083.htm
[3] - http://www.scoop.co.nz/stories/ED1005/S00084.htm
[4] - http://www.scoop.co.nz/stories/ED1005/S00085.htm
[5] - http://www.scoop.co.nz/stories/ED1005/S00086.htm
[6] - http://www.scoop.co.nz/stories/ED1005/S00087.htm

Union Reaction:

CTU - Tax cuts won't lessen lure of Australia [1]
Maritime Union of NZ - National budget an attack on working class [2]
Finsec - Budget Takes From The Poor - Gives To The Rich [3]
CTU - Budget fundamentally unfair [4]

[1] - http://www.scoop.co.nz/stories/PO1005/S00206.htm
[2] - http://www.scoop.co.nz/stories/PO1005/S00207.htm
[3] - http://www.scoop.co.nz/stories/PO1005/S00214.htm
[4] - http://www.scoop.co.nz/stories/PO1005/S00219.htm

Business Sector Reaction:

Food and Grocery Council - Food and grocery sector welcomes Budget [1]
Auckland Chamber of Commerce - Tax Changes Increase Choice [2]
Milestone Homes - Budget comment [3]
Newmarket Business Association - Timing of GST increase “bad” says poll of retailer [4]
Community Gaming Association - Increase in GST means less available for community [5]
Employers And Manufacturers Association - Fairest Budget for many years [6]
Deloitte - Four months not long to prepare for GST rate rise [7]
Wellington Regional Chamber of Commerce - Budget Delivers a Framework for Growth [8]
KPMG - Less Dollars and More Sense Good for New Zealand [9]
Jennian Homes - Budget comment: Richard Carver [10]
Business NZ - Budget move towards higher-earning economy [11]
Auckland Chamber of Commerce - Property Tax Change Behaviour [12]
Chapman Tripp - Casey Plunket: Government delivers a bold budget [13]
Institute of Chartered Accountants - The “Back to the Past” Budget [14]
KPMG - GST hike rushed [15]
Deloitte - Focusing on growth only way to deal with dead rats [16]
Industry Training Federation of NZ - Budget shows commitment to training [17]
Meat And Wool NZ - R&D investment driving sector gains [18]
NZ Business Roundtable - Sound Steps But No Step Change in Budget [19]
Tourism Industry Association - GST creates challenges for tourism operators [20]
Real Estate Institute Of NZ - Tax Changes will have limited impact on property [21]
KPMG - R&D grants for business – a new direction [22]

Other Reaction

Greenpeace NZ - Greenpeace Budget Response [1]
Retirement Commissioner - Making the most out of Budget 2010 [2]

[1] - http://www.scoop.co.nz/stories/PO1005/S00211.htm
[2] - http://www.scoop.co.nz/stories/PO1005/S00217.htm

BUDGET 2010 - THE PRESS KIT

Budget 2010: Govt's Budget Summary

- Delivers the biggest reform of the New Zealand tax system for nearly 25 years, typically leaving someone on the average wage about $15 a week better off and an average family about $25 a week better off.
- Strongly supports research, science and technology - a key engine for a faster growing economy - with $321 million over four years.
- Provides an extra $2.1 billion for frontline health priorities over the next four years - including an extra $512 million in 2010/11.
- Invests an extra $1.4 billion into better schooling and early childhood education over four years - including an extra $417 million in 2010/11.
- Takes more steps to control rising debt and returns the Government to surplus by 2016 - three years sooner than in Budget 2009. More>> [1]