Category: Economic Issues
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%.
A review of tribal claims reveals the biggest resource grab in the country’s history, and the largest ever exploitation of New Zealand's conservation estate. Some are planning on “taking” “dolphins, whales, penguins, and seals”. Many intend ‘taking’ “seabirds” – and their eggs...
It is now over six years since the racist Marine and Coastal Area (MACA for short) Act came into force. So far.it has proved very difficult for Maori tribal groups to obtain ownership of the foreshore and seabed, with only one highly unusual case qualifying so far.
New Zealand’s current international claim to fame seems to be as a preferred location for billionaires escaping from the US. Physical isolation has long been an economic challenge for New Zealand, but it turns out that there are benefits from being in Middle Earth, far away from Washington DC, Brexit, and North Korean missiles.
Last month, during his regular Post Cabinet press conference, Prime Minister Bill English was ‘grilled’ about whether he intended putting a charge on fresh water that is being commercially bottled and exported.
This question of charging for the use of fresh water has recently appeared in the news media and on the political radar apparently generated by opposition to proposals to export fresh water so before turning to the question of the charging for fresh water it is convenient to dispose of the controversy surrounding the export of water. It is a red herring.