When share markets crash, it becomes clear that shares are only ever a potential claim on resources. They have to be converted into money before they can command the basics of survival. When the music stops, few want to buy any more. Today’s share market crash reflects not just the bursting of a speculative bubble but also a loss of faith in the viability of the underlying businesses associated with tourism and travel.
In a few months’ time the Winter Energy Payment (WEP) will start for beneficiaries and superannuitants. Underpinning this badly-targeted policy are unexamined assumptions about living arrangements.
The government’s undermining of the Welfare Expert Advisory Group (WEAG) report: Whakamana Tangata has been masterful. WEAG was set up in May 2018 and reported finally in February 2019. After sitting on the report for months, the government manoeuvred the burying of it in the launch in May, with a fanfare of three miniscule crumbs to be implemented in 2020.
Monday marks the start of a three week hearing in the Auckland High Court over the leak of Winston Peters’ superannuation overpayment to the media. Winston has been greatly offended, to the tune of $1.8 million dollars and wants to get it at the taxpayers’ expense.
It is great that the Government intends paying attention at last to the broken welfare system. But has it left its run too late?
It is very strange that we are getting drip fed some important changes to NZ Super with little fanfare or discussion. Even stranger, given this is the year that the Retirement Commissioner has a statutory duty to review all retirement incomes policy.
The window of opportunity is fast closing to get the taxation of housing right.
Why so quiet Minister Sepuloni? This is amazing and was found by chance on your department’s website. Is vindication for the small group of superannuitants affected by the Spousal Provision applied under section 70 of the Act imminent?
Releasing the Welfare Expert Advisory Group report at 2pm Friday (3rd May) just before the weekend at a far-flung West Auckland venue miles from the train station was a masterstroke of political strategy.
While CGT might have been a one-way ticket to oblivion for this government, the original problems that the Minister of Finance asked the TWG 2019 to address have not gone away. These are housing unaffordability and increased inequality, both of which are highly damaging to New Zealand’s future stability and prosperity.