I will reserve my comments on Nicola Willis’ Budget until it is released, however last weeks statement from her makes it clear the economy is in recession and that unemployment is on the rise.
Those two facts tell you a lot more people in our country will be struggling to make ends meet and that’s why even right-wing economists and the IMF have to trying to get Willis to undertstand that tax cuts are not a good idea at this time.
But she listening?
No.
Why?
Hubris.
She stated prior to the election that she would quit as Minister of Finance if she didn’t bring in tax cuts. So regardless of changes in our economy since then, she’s going to stick by what she said.
So …where will the money come from to pay for her cuts?
Answer – by making life even more difficult for the young, the sick and the disabled.
Eg removing free buses for under 12’s and the youth travel concessions to get to school and tertiary institutions, removal of free prescriptions and not paying for laptops that help kids with speech difficulties to communicate.
As author Victor Hugo (Les Misérables) observed “The paradise of the rich is made out of the hell of the poor”
Bryan Bruce is one of New Zealand’s most important and respected documentary makers.
1. People farmers 2. Nicotine peddlers
E-Bicycle peddlers – Good social conditions meddlers
Succinct and 100 % correct as always Bryan. Willis should resign for giving tax cuts. She was warned by Grant Robertson of the outcome on the economy should tax cuts go ahead.
What is most disgusting is the amount of people who have lost their jobs to cater for Willis’s ill conceived tax cuts.
Tax cuts, tax cuts, tax cuts & maybe some other cuts.
Nicola Willis is the Liz Truss of Carry on cutting taxes in New Zealand.
”
Taxation
Truss ruled out new taxes and rejected the introduction of an additional windfall tax on oil and gas companies that have recorded profits this year.
She pledged to cut taxes that will cost 38 billion pounds ($44bn) annually, but which economists say could actually cost more than 50 billion pounds ($57bn) a year.
However, these tax cuts will do nothing to address the real reasons for Britain’s dire productivity growth – such as a lack of investment in infrastructure, skills and other forms of capital.
Without new taxes, Truss will need to lean on extra government borrowing or cuts to spending elsewhere to finance further household support.
Some economists say her plans will stoke already-high inflation and force the Bank of England to raise interest rates even faster. ”
https://www.aljazeera.com/news/2022/9/5/what-are-some-of-uks-pm-frontrunner-liz-truss-policies
https://time.com/6223365/why-liz-truss-resigned/
The UK is now a poor country with a rich ice cream top wobbling on the top. It’s in decline just as is happening with Nicola’s blinkered refusal to invest in her own country. Truss lasted 45 days. How long will Nicola last?
THIS really bugs me about nz, take a policy failure that has NEVER worked and adopt it in nz….it brings einstein to mind….it’s ideology pure and simple
and yup the uk is a completly fubar clown show…so lets emulate them, that’ll work
The Banks. The Banks. The Banks. They must go and we must make sure they do.
*What’s interesting is that a dodgy fucking Kiwi is mentioned. My assumption is he invented a system where by those who never earned the money that our agrarian exports infrastructure earned got to fiddle with it.
Read this.
The Guardian.
‘Outdated and misleading’: is it time to reassess the very concept of money?
It’s regularly being created and destroyed – and economic models that don’t reflect that fact are not even slightly useful
https://www.theguardian.com/books/2024/apr/02/outdated-and-misleading-is-it-time-to-reassess-the-very-concept-of-money
*(The New Zealand economist Alban William Housego “Bill” Phillips became famous for the Phillips curve, postulating a relationship between rising inflation and unemployment. In 1949 he invented the monetary national income analogue computer, or Moniac. Also known as the financephalograph, this heroically clunky contraption used real liquid, hydraulics and pipes to illustrate how Phillips thought a sealed, circular, money-fuelled economy worked.)
Not to forget Terry Pratchett’s use of the idea in his book –
Making Money – Sir Terry Pratchett
terrypratchettbooks.com
https://www.terrypratchettbooks.com › … Whakamāoritia tēnei whārangi
In the second book of Terry Pratchett’s Moist von Lipwig series, The Royal Bank is facing a crisis, and it’s time for a change of management.
The idea is spreading, but teacher won’t like it. ‘None of those ideas here or Elsie.’ (The female is deadlier than the male?)
Hubris of Nicola Wills or doesn’t? Government that has not revised itself to match the increasingly modern millenium while still being stuck in the 20th century. It was a new idea at the time, great in its early days, but any little alterations once elite people had found how to drive it, have been resisted. Once we didn’t have to hand-crank and found our way to the showrooms of the political machine – she was beaut thanks.
Hubris – (in Greek tragedy) excessive pride towards or defiance of the gods, leading to nemesis. Q. Where are gods when you need them? A.The Gods are in the Ramtops, imbibing with Terry Pratchett.)
Words for hubris from Oxford Languages – arrogance
conceit conceitedness haughtiness pride
vanity self-importance self-conceit
pomposity superciliousness feeling of superiority
hauteur uppitiness big-headedness
Appreciating N. Willis and the rest of the Robbing Hood Gang –
Elizabeth Barrett Brown’s words to aspire to, you clowns; we could love you, but not yet!
“How do I love thee? Let me count the ways.
I love thee to the depth and breadth and height
My soul can reach, when feeling out of sight
For the ends of being and ideal grace.
I love thee to the level of every day’s
Most quiet need, by sun and candle-light.
I love thee freely, as men strive for right…
https://www.goodreads.com/quotes/115062-how-do-i-love-thee-let-me-count-the-ways
#BHN The people who need tax cuts won’t get them and the ones that get them don’t need them
https://www.youtube.com/watch?v=_iI9F1_x-Zs&t=4s
We’ve heard about the people getting between $2 and $5 a week tax cuts which won’t help at all, and those that are getting $20 a week are already earning several thousand a week so don’t need them.
So why are National so pig headed to push them through?
@michaelcrane2475
23 hours ago
Just announced today that superannuation goes up today. More than half of those people don’t need that money. The rich people in my town are those who are retired. Most have flipped a couple of houses tax free and have a couple of rental properties. And guess what… they all hate Labour and vote National.
@AnthonyFlack
21 hours ago
Yep, I’m getting the $20 tax cut and I don’t need it. People who do need it are only getting a fraction of that. This is why the tax brackets haven’t been adjusted for so long; because it ends up being a regressive tax refund. I’d rather they simply gave $20 to everybody, it would make more sense than giving it only to those on high incomes.
@AnthonyFlack
19 hours ago
Ungrateful! It’s the government’s job to serve the people, it’s not an act of generosity on their part. The cuts to services needed to pay for that extra $260 per year will leave lower income people worse off, and meanwhile the richest NZers get an extra $1040.
Lol. Good one GW. But the flip side of Barrett Brown’s words, “How do I love thee? Let me count the ways…” , I just see Seymour reciting . Urggg !
Well the priority is not honesty. Luxon’s rationale for passing/repealing whatever under urgency was “they had campaigned so strongly” on what they have actioned (in the first 100 days) Did they campaign hard on repealing the smoke free legislation? That’s still no excuse by the way, but I don’t recall that getting a lot of coverage.
Development stalls on hundreds of community, Kāinga Ora homes | 1News
https://www.youtube.com/watch?v=iZP7As5EofU
Community housing developments stall as government funding not guaranteed
https://www.rnz.co.nz/news/national/513168/community-housing-developments-stall-as-government-funding-not-guaranteed
Greens co-leader Chlöe Swarbrick on Govt changes to emergency housing
https://www.rnz.co.nz/audio/player?audio_id=2018932451
Many New Zealanders ‘disconnected’ from stark realities of living in poverty – AAAP
Auckland Action Against Poverty’s Brooke Fiafia criticised the Government’s lack of ‘urgency’ in addressing poverty.
https://www.youtube.com/watch?v=9VLKZK38AKs
New Zealand has 100,000 empty homes, and 100,000 homeless people
https://www.youtube.com/watch?v=a3n4OMQAQiI
@JohnSmith-fw4vv
1 year ago (edited)
Those houses have been sold, who ever owns them want to capitalize on them. majority of owners are from other countries is the reason why the houses are empty, they don’t even have be in NZ to sell them. online and telephone auctions.
@starquant
2 years ago
New Zealand has a population of haves and have nots. A great divide between the super rich and the working poor. I have met some of these super rich kiwis and they couldn’t care less about anyone else except themselves. They place a whole new meaning to the phrase of being self entitled.
@rosexo5778
2 years ago
You shouldnt need almost a million dollars to buy a home. That is not in most ppls reach. Houses that are valued at $400k should be and sell at $400k. Now its put another $400-500k ON TOP?! $900k for a $400k house. That is fkn greedy! That is one of our biggest problems and why no one except that 5-10% of ppl can. What about the 90% of us?? Full time work, skilled and it doesnt mean a damn thing!!
Lux- on was asked during the tv election debates would he sell assets and he said ‘NO’ will this be another lie, or will he try and blame the lame coalition who might have to leave NZ after the carnage on our country.