Will Bill English heed his own warning?
Will double dipping double downgrade Bill English have the guts to heed his own warning?
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bill english
English: poll downgrade coming
Bill ‘Double Dipton’ (or should that be ‘Double Downgrade’?) English says people aren’t focused on politics, which is why National is so high in the polls. When they focus on the main election issue of economic management, DD says the gap will close. Not exactly a strong defence of his and Key’s performance as economic leaders.
Nats’ muddling earns credit downgrade
National has borrowed $37 billion in less than three years and delivered no growth for it. In fact, it has repeatedly failed to meet its growth projections and GDP per capita has fallen. That failure has now resulted in the credit rating agency Fitch downgrading our credit rating. Makes a lie of the Nats’ line that we’re in better shape than in 2008. Will Bill English resign?
Update: S&P downgrades us too. English’s resignation letter being drafted on 9th floor to stem political fall-out for Key.
English on the economic turmoil
As most of the headlines this morning focus on the crumbling world economy, it was interesting to hear Bill English on RNZ. Among various inane comments there was one interesting gem, when English called for higher taxes…
Key missing the big picture
It’s a bit of a worry that the PM seems to be clueless about the complexity and interdependence of the world economy. Bill English needs to take him aside and paint him a picture.
Resignation watch
Which minister(s) will John Key fire this week? Bill ‘Double Dipton’ English, is embroiled in yet another personal corruption scandal involving a job for his brother. Gerry ‘The VIIIth’ Brownlee’s Christchurch fiefdom is seeing a peasants’ revolt among redzoners. Murray ‘drowned rat’ McCully delivered Key a huge embarrassment on Friday at the RWC opening.
Nats clueless on privatisation consequences
If electricity assets were part privatised, future governments couldn’t make the kind of reforms that National made earlier this year because of the need to consider private investors’ rights. Pretty simple, eh? Tell that to Hekia Parata. Bill English has his head in the sand on the effect of falling markets and can’t guarantee Kiwi ownership.
Cuts and consequences
The government reckons it can cut the number of public sector workers without cutting services. That wasn’t the experience of the 80s and […]
Nats rebel on privatisation
English is under attack at the Nat conference over asset sales. The neolibs vultures treat the state as a carcass to pick clean. But old school conservatives believe in investing the nation. And business types know you don’t get rich by selling profitable assets. English has no good excuses. All he can offer is expensive measures that make selling even more unprofitable.
English’s record under fire
Stuart Nash put Bill English’s feet to the fire yesterday on his economic record. English has been claiming that the economy is in better shape to withstand another economic crisis than it was in 2008. Does anyone seriously believe that? We’re poorer, we’re more indebted, we’re less employed, and costs are higher.
Yet more dodgy Nat numbers
If you’re a blogosphere regular, you’ll have noticed that recently every monkey with a copy of the Fountainhead and a crush on John Key has been spouting the line that the top 10% of taxpayers pay 71% of net tax. Sounds incredible, eh? That’s because it’s not credible. It’s more cheap tricks from the Nats.
English to go over asset sales lie?
Labour has been chipping away at National’s case for asset sales for months. The hole in the budget has been exposed, the ‘mum and dad investors’ myth has been quashed, the efficiency argument has been broken. Now, Bill English has been caught out lying to Parliament over advice that shares would go to foreign buyers. He’ll be forced to resign.
Maths not a strong point
English’s Budget that counted asset sale revenue but not costs appears to be part of a wider maths problem for our Finance Minister. Perhaps this explains the Double Dipton affair.
In other news
The spotlight was on Christchurch last week, and will be on Te Tai Tokerau over the weekend. Lots of stories are slipping by under the radar. But here are a couple of pieces that deserve further comment.
Back to High School for English
My jaw dropped when I heard this listening to Question Time yesterday. Mallard: “Does he understand that real average wages go up when high-income earners get massive tax cuts-$1,000 a week, in his case-and low-income workers lose their jobs?” English: “No, I do not understand that, because it is not true.” Can’t English do simple maths?
Bill’s Magic Numbers
Bill (and John and the entire National caucus) have been telling us that we are required to borrow $380 million each and every week. Apparently we aren’t.
English: dodgy asset sales figures
Question Time: David Cunliffe wipes the floor with Bill English in the House today, as he shows up his missing costs of asset sales.
English – sell dams to buy prisons
So, that’s National’s great big plan: get rid of our electricity assets and use the cash to build more prisons. Not much of a brighter future there. National still hasn’t come up with a convincing reason why we would sell highly profitable monopolistic companies. Instead, we’ve seen a series of weak excuses. Now, English has revealed the truth.
So, borrowing to save makes sense afterall…
Do you remember back in the day when Bill English didn’t want to put any money into the Cullen Fund? Remember how we were smugly told that borrowing to save was foolish? Well, since then the Cullen Fund has made a fortune and, we know learn, the government has been borrowing to build up savings for the Christchurch rebuild.
No future in English & Brash’s neoliberal plans
Don Brash has attacked Bill English’s budget which he says fails to lay out a plan for New Zealand. The reality, I think, is that both have plan however there is little or no future in either plan. Neither Brash nor English have laid out a plan which deals with the present and quite near problems we will face.
Time for a cross party consensus on crime
All of a sudden National and ACT are sounding vaguely sensible on crime and prisons. There seems to be a golden opportunity to reach a cross party consensus, and get some evidence driven policy and practice in this area. Who is going to make the first move?
Stop me if you’ve already heard this one
As I think you can tell from the budget speech, that Bill English is quite a funny guy…
I know it is picky – but it is Friday..
I was listening to John Key on Parliament TV last night on the budget and he is bloody lazy when speaking. I had to watch his lips before I could figure out what he was saying. This morning there is a video of his remedial vocal work that illustrates this problem..
The borrow and hope budget
It’s only taken two and a half years of mismanagement and reckless tax cuts from to run the country into a mountain of debt. How bad have they let things get, who will they make pay for their mistakes, and how rosy will the forecasts their plans hang on be? Rolling coverage through the day.
Updates: Plans for privatisation are set out. Families hit harder than expected.
Pre-budget roundup
So, today is Budget day. The big stuff has all been pretty well signposted, tinkering with KiwiSaver, Working for Families, and student loan eligibility. The devil will be in the details of all the cuts that get made to try and limit the damage in health and education.
Beemer watch
What is going to happen to the “old” BMW limos when the government gets rid of them? The franchise that just donated $50,000 to the Nats has said it wants its share of the “honey pot”. I wonder if the Nats will oblige?
National reforms Kiwisaver – again
John Key has announced National’s third reform of Kiwisaver in 3 years, saying the government’s contribution will be cut and made up with higher minimum contributions from members and their employers. It’s an embarrassing flip-flop from the government that cut default contribution rates and shows no plan for the future.
Life in the fast lane
Judith Collins has joined the long list of National MPs with their hands buried up to the elbows in the taxpayer’s pockets. She claims it was all within the rules. That doesn’t make it right.
Pragmatism and the limits of patience
Bill English managed to cause quite a fuss this week with his claim that New Zealand had a “competitive advantage” due to factors like our low wage economy. Another of the factors that English cited was how “pragmatic” the public are as the Nats ram through their economic changes…
Bill English: man of the people
The Crown BMWs are back in the news. One will have a $1000 underseat heater to keep a worthy’s arse toasty. Based in Dunedin. For “long-distance and long-duration movements”. Hmm. Who flies to Dunedin for a 3 hour drive to Dipton occasionally? Guess you need that heater against the Southern cold when you’re used to balmy Karori.
No ambition for New Zealand
National came to power promising to close the wage gap with Australia. Not only have they failed to fulfill that promise but Bill English now portrays it as a good thing. His appearance on Q+A yesterday only confirms how out of touch National is: determined to sell our assets for no good reason, against our will, and happy with our low wages.
English: gap with Aussie good
Bill English has given up any pretense of closing the gap with Australia by 2025. Now, he is claiming the wage gap is a good thing and admitting higher productivity isn’t the cause of the wage gap. Meanwhile, Fran O’Sullivan slams Key and English’s ‘fingers crossed’ approach to handling financial crises.
Caption Contest
In need of a good laugh
As it is the end of the working week many people are likely in need of a good laugh. With the budget due out next month it’s worth reviewing the words of well known comedian and magician (able to make economic growth disappear before your eyes) Bill English. Minister English cracked this opening joke during his 2010 delivery.
Of train sets and stuffed companies
The saga of South Canterbury Finance just keeps getting worse and worse, with news yesterday that the taxpayers’ bill for the bailout rose by a further $300 million due to the costs of “insider loans”. Why are we spending $1.2 Billion (and climbing) on a stuffed company?
Nice to have
Bill English wants to cut things that are “nice to have”, like the adult education classes (that he used to praise in opposition), and keep “necessities”, like tax cuts for the already wealthy. This is the kind of economic “wisdom” that has Bill leading us into an all time record budget deficit.