Category: Economic Issues
New Zealand First looks like the only stabilizing element in coalition governments that would otherwise fall under the extremist sway of either or both the Greens and the Maori Party.
The National Party’s desire to pander to the minor Maori Party led in March 2011, to the Marine and Coastal Area (MACA) Act. It gives major property and other rights to any Maori tribal group that can prove that it has “exclusively used and occupied an area of coast from 1840 to the present day”.
The Trump administration has bit the bullet, and to the outraged dismay of the political left has withdrawn from the Paris accords. That agreement, which went into effect on November 4, 2016, just days before Donald Trump’s election is a complex affair in which the United States made the key “voluntary” commitment to reduce its carbon dioxide emissions in the next decade by about a quarter of their 2005 rate, with further reductions to come thereafter.
Budget Day has been described as an ‘exercise of democratic power’. It’s the day the Minister of Finance begins the process of seeking Parliamentary approval for the Government’s spending plans for the coming financial year – in this case, by tabling the Appropriation (2017/18 Estimates) Bill.
The National Government has produced a measured and politically clever Budget. Where this budget differs from its previous budgets is that it has opened its wallet and distributed the benefits of eight years of conservative management and the increased tax revenue derived from a very strong domestic economy in recent years.
National has long promised tax cuts once the books return to a surplus - as a pathway to stronger economic growth and higher living standards. With the Government on track to achieve a full-year surplus of at least $1.8 billion in the Budget, the time is right for them to keep their promise.
The Trump administration has revealed a one-page tax plan that, if implemented, could have vast consequences for the economy of the United States. The high points of that plan are simplification and repeal. The brackets go down from seven to three - 10%, 15%, 35%. Corporate tax rates are slashed from 35% to 15%.