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

Pike River Recovery: Loader Driven By Russell Smith Recovered


A loader driven by former miner Russell Smith at the time of the Pike River Mine explosion has now been recovered from 1581m up the 2.3km drift access tunnel.
The recovery of the loader went smoothly and to plan. Pike River families were able to witness it being towed to a storage area, Chief Operations Officer Dinghy Pattinson says.
“We reached the loader at the end of last week, and then conducted a very deliberate and exacting forensic examination of the vehicle and operational zone... More>>

 

E-Cigarettes: Vaping Legislation Passes

Landmark legislation passed today puts New Zealand on track to saving thousands of lives and having a smokefree generation sooner rather than later, Associate Health Minister, Jenny Salesa says. The Smokefree Environments and Regulated Products (Vaping) ... More>>

ALSO:

Housing: Government Delivers On Rental Reforms Promise

The Government has delivered on its promise to New Zealanders to modernise tenancy laws with the passing of the Residential Tenancies Amendment (RTA) Bill 2020 today, says Associate Minister of Housing (Public Housing), Kris Faafoi. “The Residential ... More>>

ALSO:

National: $4 Billion Investment To End Wellington’s Congestion Woes

A National Government will invest another $4 billion in transport infrastructure across Wellington, igniting the economy and delivering the congestion-busting solutions the region has long been crying out for, National Party Leader Judith Collins says. ... More>>

ALSO:

Gordon Campbell: On The Virtues (and Fluffed Opportunities) Of The Operation Burnham Report

One unspoken rule of thumb in any official public inquiry is : whatever you do, don’t conclude you were made to listen to “a litany of lies” even if the evidence of a deliberate cover-up is right there under your nose. In that respect, the report ... More>>

ALSO:

Office Of The Speaker: Parliament Is Revamping Its Rules

Today, the Standing Orders Committee’s report on the review of Standing Orders was presented to the House. The Speaker of the House, the Rt Hon Trevor Mallard, chairs the committee. He said today that the 2020 review will make our rules more ... More>>

Your Vote 2020: Bringing Election Coverage To Viewers Across TVNZ Channels And Platforms

As New Zealand gets ready to head to the ballot box this September, 1 NEWS is bringing voters comprehensive coverage and analysis of this year’s General Election. TVNZ’s coverage will draw on the depth of experience held across the 1 NEWS team, says Graeme ... More>>

Economy: 30% Believe Households Worse Off, 298,000 Expect To Lose Jobs

64% of New Zealanders feel the economic position of their households is the same or better than a year ago – and 30% think it is worse or much worse, while 298,000 think they will lose their jobs in the next 12 months. Households’ perceptions ... More>>

State Services Commission: Findings Of Investigation Into COVID-19 Active Cases Privacy Breach

Deputy State Services Commissioner Helene Quilter has today announced the findings of an investigation into a breach of privacy regarding sensitive personal information. The investigation looked into who or what caused the disclosure of the information, ... More>>

International Security: New Zealand Suspends Extradition Treaty With Hong Kong

The New Zealand Government has suspended its extradition treaty with Hong Kong and made a number of other changes in light of China’s decision to pass a national security law for Hong Kong, Foreign Affairs Minister Winston Peters says. More>>

ALSO:

Energy: 100% Renewable Electricity Grid Explored With Pumped Storage ‘battery’

The Government is taking a significant step toward its goal for 100% renewable electricity generation in a move that could be a game changer for consumers and the creation of a low-emissions economy, Energy & Resources Minister Megan Woods said. ... More>>

ALSO:


 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 


 

InfoPages News Channels