A little more or a lot less

National will continue with the economic plan that’s working if voters back it:

A re-elected National Government will return to surplus this financial year and stay there so we can reduce debt, reduce ACC levies on households and businesses and start modestly reducing income taxes, Finance Spokesman Bill English says.

“National’s clear economic plan is working for New Zealand by successfully supporting higher wages and more jobs, and ensuring government spending is invested wisely to deliver better results,” he said when issuing National’s Finance Policy today.

“National is working hard to ensure the economy grows sustainably into the future, supported by more savings, productive investment and exports. This will provide opportunities for Kiwi families to get ahead here in New Zealand.”

As set out in the Budget, a National-led Government will restrict average Budget allowances for discretionary new spending and revenue measures to $1.5 billion a year over the next three years. Within this allowance National will:

• Allow around $1 billion a year for new spending, including between $600 million and $700 million a year more for health and education. This total new spending is consistent with the level of new spending in our last two Budgets and it’s well below the $2 billion to $3 billion spending increases under the last Labour government, which had little to show for them. 

16 Responses to A little more or a lot less

  1. National’s ‘tax cuts’ – what a complete charade. Key and English are making chumps of New Zealanders. What a farce.


  2. Gravedodger says:

    Politically naive with a complete dearth of commercial and economic nous, aint that a surprise.
    Guyton fails to comprehend the gulf between a signal for economic future policy intent, and a half arsed CGT that will be enacted and left “to an expert body of advisers” to flesh out the fine print.
    Yet another example of classic better to be silent and thought stupid than preach and remove any doubt Guyton.

    Some New Zealanders require no assistance to be made into a chump, for you Guyton achieve it all the time, completely unaided.


  3. “We might offer a pitiful tax cut in 2017, maybe, probably, if we are in the position, hopefully, mumble, um, er… Bill! Help me out here!”

    Good grief! Swallow that, Gravedodger and your the King of the Chumps.


  4. your/you’re – unsure? Ask John Key.


  5. robertguyton says:

    Gravedodger – your understanding of economic matters is tenuous to say the least. Consider this:
    “New Zealand’s national debt was less after nine years of Labour than when they were elected. The Clarke government was fiscally ultra-conservative, because the books really did balance.

    Contrast that with debt under Key’s government. Starting at around $18 billion, it has blossomed to a staggering $86 billion today. That’s a five-fold increase, in just six years.

    Yes, we’ve had the global financial crisis and Canterbury earthquakes and tax cuts for the wealthy that have to be paid for somehow. We’ve also had record commodity prices, significant departmental cost-cutting, and the sell-off of major state-owned assets. Plus very little new spending.

    Yet we’re running up debt at more than $13 billion per year – to merely tread water.

    It doesn’t add up. These guys are supposedly the whizz-bang flash moneymen. So how come we’re so indebted it now costs over $4 billion per year just to service the interest?

    Truth is, the economic recovery is itself a myth.

    Take away the Christchurch rebuild and growth is nominally zero.”


  6. murray grimwood says:

    Actually, Gravedodger, some folk choose ignorance.

    Even when they have facts put under their noses,

    Funny old world.

    The truth is that you can’t grow – based on things physical, and every move of every Government of every hue is physical at its base – forever.

    Which means the repeated Bill English statements are incorrect. Sure, they go largely unchallenged by a fairly ignorant mass, but that doesn’t make them true.

    We turn the finite, physical planet into ‘money’ – then focus myopically on just the ‘money’. Consider Norway – past it’s peak supply of the energy you do real work with, but stacking up Euros instead. Which is of any use?

    So arguing either way about money issues – like taxes – is akin to arguing about which colour of Titanic deckchair fades less in the sun.

    Somewhat irrelevant.

    What we need is real leadership, real maturity as a society, and the cohones to say ‘mea culpu, now lets fix it’.

    Not even the greens go there, yet time is running out due to exponential growth. In the last 2 years, more concrete was poured in China, than in the USA in the last 100. How long do you think that continues? One of our problems – and it may well be the cause of our demise – is the inability to understand exponential numbers.


  7. Paranormal says:

    Except Murray you are basing your belief on your current and potentially outdated understanding as technology changes. That’s similar to those at the end of the 1800’s that said we couldn’t grow any more or else we’d be mired in horse shit.


  8. Gravedodger says:

    One straight question Guyton, Have you ever embarked on a commercial venture that should it fail you lose everything and in fact may still owe a mortgage or loan balance after the wash up.
    Having done so with absolutely no fallback on a skill or qualification for an alternative income stream and where bankruptcy is the only option.

    Plenty of New Zealand citizens take such a risk every day and those who succeed will most likely end up as the funders of all your dreams personal, social and political.


  9. RBG says:

    Paranormal, What energy sources will be used to power this modern age where continual growth will supposedly be possible?


  10. murray grimwood says:

    technology can only be applied to energy, in terms of efficiencies. I can’t create energy, you understand that, Para? I’m not sure you do; you seem to think fossil oil as a technology, whereas it is a finite store of crackable carbon bonds.

    There were, what, 1.3 billion planetary inhabitants in 1880?

    What relevance is that to now?

    Denial is what your comment looks like.


  11. Paranormal says:

    Good on you MG, amongst your prejudices you crack out the denial word.

    You are myopically looking at oil rather than understanding the bigger picture. Yes I’m well aware that energy cannot be created or destroyed. However oil is only stored sunshine energy. The Earth receives and releases massive amounts of energy every day.

    You need to get over your obsession with oil and look wider. But I suppose that would deny you the pleasure you seem to gain from self flagellation.


  12. RBG says:

    Paranormal, ALL energy in the solar system comes from the sun, that’s not new information. Whenever I point out that, because of climate change, we must change to renewable energy, commenters here jeer about sail or solar powered tractors. So more detail from you on how this continually growing economy will be powered please.


  13. JC says:

    “So more detail from you on how this continually growing economy will be powered please.”

    Nuclear power.. advances in technology will mean there could be a plant in every neighbourhood.

    Batteries with vastly greater efficiency in storing sunlight.

    Resources we haven’t either developed yet or even thought about.

    Fracking.. we’ve hundreds of years of supply.

    Improvements in clean coal that we haven’t developed yet.

    Cheap mini dams in some places. Last week, for two days work and $7000 I got a 13 x 2 metre high water control complete with huge rocks, iron staunches and cable threaded through it and anchored to dead men each side of a stream bed. If I had wanted, I could have had it boxed and concreted for probably another $7000.



  14. Paranormal says:

    Technology is advancing at such a rate that we would likely be wrong to predict what will be the next century’s mode of power. The thing really holding us back is power storage. However there is massive advancement happening in that area.

    You and Murray are sadly wrong with your climate change delusions. More evidence is comes out daily that there has been no warming and we are in a benign part of the 30 year hurricane cycle.

    We have oil for some time yet during which time technology continues to develop and improve.


  15. RBG says:

    So Paranormal, a faith based answer that someone in the future will invent something, (which was also one of JC’s options). JC, improving batteries and microhydro would be useful, but neighbourhood nuclear, ‘clean coal’ and hundreds of years of fracking are pure fantasy.


  16. robertguyton says:

    ” More evidence is comes out daily”

    Yes. But the place it issues from is not regarded as a reliable source of truth.


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