Gordon Campbell | Parliament TV | Parliament Today | Video | Questions Of the Day | Search


Labour and Alliance Budgets donÆt add up

Five reasons why the Labour and Alliance Budgets donÆt add up

Sunday 14th Nov 1999
Rodney Hide

1. WhereÆs the missing $6 billion?

Labour was promising an extra $8.4 billion in 1996 over three years. Now itÆs
promising just $2.4 billion. Labour has not explained what policies have been
dropped to save $6 billion.
Alliance was promising an extra $12.4 billion in 1996 over three years. Now
its promising an extra $6.5 billion. Alliance has not explained what policies
have been dropped to save $6 billion.

2. Heroic growth assumptions

Labour (like the Alliance) assumes growth of over three percent a year. This
wonÆt happen with an 18 percent increase in the top rate of tax, a return to
union domination, and re-nationalising ACC.

3. Health cuts?

LabourÆs Budget increases Health spending by just $315 million over three
years. Treasury is allowing for a $534 million increase. What Labour is
promising is less spending than National but as a credit card commitment will
ôcut waiting times for surgeryö. It doesnÆt add up.

4. Tariffs make poor people poorer

The AllianceÆs ten percent across-the-board tariff will put up the price of
goods by ten percent. Low income people will have to pay more û for

5. Financial Transactions Tax wonÆt work

The Alliance assume that every dollar spent goes through the banking system
hundreds of times. This isnÆt so now, and will be even less so if AllianceÆs
Financial Transaction Tax was introduced. Ninety percent of all transactions
are performed by a small group of traders who can easily shift transactions
offshore. Big traders will switch from gross reconciliation to net. They will
also settle up less frequently. The Alliance Financial Transactions Tax will
raise less than ten percent of what the Alliance assume.


© Scoop Media

Parliament Headlines | Politics Headlines | Regional Headlines

Gordon Campbell: On The Erebus Memorial In Parnell

Social media can be a wonderful tool for bringing people together in a common cause. It can also be a seedbed and spreader of mis-information on a community-wide scale. To which category do the protests against the siting of an Erebus memorial (to the 257 New Zealanders who died in that tragedy) in a secluded corner of a Parnell park happen to belong? IMO, it is clearly the latter, and the reasons for thinking so are explained below... More>>


Government: Border Exceptions Will See More Families Reunited

Hundreds more families who were separated by the border closure will be reunited under new border exceptions announced today, Immigration Minister Kris Faafoi said. More>>


National: Proposed Hate Speech Laws A Step Too Far

Reports of the Government’s proposed new hate speech laws go a step too far and risk sacrificing the freedoms New Zealanders enjoy, National’s Justice spokesperson Simon Bridges says. “The reforms are supposedly including protections to every ... More>>


Agriculture: Government To Phase Out Live Exports By Sea

The Government has announced that the export of livestock by sea will cease following a transition period of up to two years, said Agriculture Minister Damien O’Connor. “At the heart of our decision is upholding New Zealand’s reputation for high ... More>>


PM Ardern And PM Morrison: Commencement Of Two-Way Quarantine-Free Travel Between Australia And New Zealand

Joint Statement by Prime Ministers Scott Morrison and Jacinda Ardern Commencement of two-way quarantine-free travel between Australia and New Zealand Today, Australia and New Zealand have fulfilled their commitment to establish two-way quarantine free ... More>>

Claire Breen: ACC’s Policy Of Not Covering Birth Injuries Is One More Sign The System Is Overdue For Reform

Claire Breen , University of Waikato Recent media coverage of women not being able to get treatment for birth injuries highlights yet another example of gender bias in healthcare in New Zealand. More>>

Police: Police Accept Findings Of IPCA Report Into Photographs Taken At Checkpoint

Police accept the findings of a report by the Independent Police Conduct Authority (IPCA) relating to photographs taken at a checkpoint in Northland. On November 16, 2019, Police set up a checkpoint down the road from a fight night event in Ruakaka ... More>>





InfoPages News Channels