The Standard

Economy

Posts on the economy, work, business, income, and labour

Categories under Economy

The lie of the “fiscally neutral” tax cuts

Written By: - Date published: 3:50 pm, April 4th, 2012 - 46 comments

The “fiscally neutral” tax cuts never were neutral at all, and a lower than expected tax take is hitting the government’s books. But Key is still out there repeating the lie.

Cunliffe on DIRA

Written By: - Date published: 11:09 am, April 4th, 2012 - 31 comments

Against the will of the Fonterra farmer Shareholder’s Association, National is trying to destroy Fonterra’s cooperative model on vague grounds about access to capital. The end result will be the one world-leading, world-scale company we have, which brings in 20% of our export earnings, will start sending it profits offshore. David Cunliffe makes the case passionately and eloquently.

Milking a Land of Plenty?

Written By: - Date published: 10:39 am, April 4th, 2012 - 86 comments

NZ milk production has apparently risen by 30% since 2005. And, according to sources used by frenz.co.nz, back in 2006  over 14 billion liters of milk and 1.2 billion kilograms of milk solids (were) being processed by dairy companies annually That’s a lot of milk and associated dairy to spread around some four and a […]

AFFCO to extend lockout to avoid holiday pay

Written By: - Date published: 7:02 am, April 4th, 2012 - 81 comments

Talley’s has sunk to a new low in the AFFCO lockout. Not content with trying to starve out 1,000 workers and force them to accept 20% pay cuts, Talley’s-owned AFFCO meatworks are planning to lockout hundreds more workers on the Easter statutory holidays – just to save on paying its workers holiday leave. It’s a despicable, and hopefully illegal, move.

ImperatorFish: Labour To Blame For Legal Costs

Written By: - Date published: 2:54 pm, April 3rd, 2012 - 8 comments

Scott at Imperator Fish has kindly given us permission to syndicate posts from his blog – the original of this post is here.

A predicted massive hike in legal costs to the Crown has forced Treasury to take another look at the Government’s accounts.

Woka Woka Wharfie Fundraiser – Akl tonight

Written By: - Date published: 12:15 pm, April 3rd, 2012 - 10 comments

Something to do in Auckland tonight: What:  Special screening of The Muppets Where:  Hoyts Sylvia Park, Mt Wellington When:  Tonight, April 3rd, 6.10pm to 8.30pm Don’t let those muppets at the Ports of Auckland get you down, come laugh at the real Muppets instead! Some door sales will be available, or you can email julie.fairey@gmail.com […]

Joyce’s dirty deals: Skycity

Written By: - Date published: 7:19 am, April 3rd, 2012 - 40 comments

While Collins is busy backing herself into a corner over the ACC affair and has found herself footing the bill for vexatious lawsuits, Joyce, her main rival for the post-Key leadership, is cutting a sleazy deal with SkyCity: more pokies and relaxed licencing in return for an international convention centre we don’t need. Now we learn SkyCity is fostering problem gambling.

Bernard Hickey – Ouch!

Written By: - Date published: 6:34 am, April 2nd, 2012 - 273 comments

Bernard Hickey has a great piece in the Herald on Sunday that you shouldn’t miss.

0900 LOCKOUT

Written By: - Date published: 3:22 pm, April 1st, 2012 - 33 comments

While the PoAL dispute has been raging a thousand meatworkers are entering their fifth week of lockout at Talleys-owned AFFCO.

There’s a war on workers on across the country at the moment but you can help fight back.

On incompetent management

Written By: - Date published: 9:03 am, April 1st, 2012 - 28 comments

Once upon a time, decades ago now, ports were run by a person called the Harbourmaster. He used to be a highly qualified and experienced Master Mariner, who had extensive knowledge of shipping and decades of experience, at sea and within the port. All this competence and experience came at a wage,  at most, five times the average wage.

Earth Hour

Written By: - Date published: 8:24 pm, March 31st, 2012 - 31 comments

OK – so we’re a bit late with this – but it’s Earth Hour, 8:30 – 9:30pm NZ time.

Confused? A guide to the letters & leaks in the Nats’ Civil War

Written By: - Date published: 4:03 pm, March 31st, 2012 - 77 comments

The ever-growing list of letters, emails, and leaks in the National Party Civil War, that started off as an apparently apolitical privacy breach by ACC, is getting hard to follow. Here’s a summary of the various documents and their ramifications – so far.

It’s safe to get off the fence now, Len

Written By: - Date published: 9:54 am, March 31st, 2012 - 50 comments

The PoAL management looks as incompetent and divided as the Nats after their ‘bullet-proof’ contracting out plans were shot down by the Employment Court and a director resigned publicly admonishment management’s strategy. Time to use that bully pulpit, Len. Say you have no confidence in Pearson and Gibson, demand they drop their plans, and get the port back to work.

POAL falling apart

Written By: - Date published: 2:29 pm, March 30th, 2012 - 47 comments

Things are not going so well for Ports of Auckland. “Ports of Auckland lifts lock-out amid board rift” sums it up…

Participate: Stop Asset Sales and Welfare Reform

Written By: - Date published: 11:02 am, March 30th, 2012 - 54 comments

Friday 13th (April) – a scary day as submissions close on 2 major government bills. Make sure you get your submissions in on the Mixed Ownership Model Bill and the Social Security (Youth Support and Work Focus) Amendment Bill.

Key linked to Pullar claim

Written By: - Date published: 7:22 pm, March 29th, 2012 - 153 comments

Close Up tonight led with the allegation, based on a leaked document, that John Key (and other prominent Nats) were listed as supporting a $14 million dollar insurance claim by Bronwyn Pullar.

Blinglish’s Treasury not so hot

Written By: - Date published: 4:16 pm, March 29th, 2012 - 12 comments

Bill English and Treasury adopted a “see no evil, hear no evil” approach to the Retail Deposit Guarantee Scheme. And it’s cost us $2 billion. The Deputy Auditor General has delivered a damning report on a ministry used to judging others, not suffering any oversight itself…

Cost of the Ports of Auckland fiasco

Written By: - Date published: 11:03 am, March 29th, 2012 - 9 comments

Apparently the Auckland Council doesn’t know how much the POAL fiasco is costing. Rough estimates suggest that the cost is at least $400,000 a day, probably significantly more.  No wonder the Council doesn’t want to know.

You know you’re in trouble when: The bookies open a contract on you

Written By: - Date published: 10:28 am, March 29th, 2012 - 163 comments

You know that bookies sense when there is blood in the water and they’ll create contracts. I don’t gamble but the interesting contracts today in my mind are “Judith Collins to cease being a Minister before 1 June 2012”, “An ACC official ….to be found to have leaked Boag email”, “Beehive staffer to be found to have leaked Boag email”, etc. And a politician is definitely in trouble in NZ when they start talking about defamation 🙂

Unanswered questions

Written By: - Date published: 8:45 am, March 29th, 2012 - 96 comments

Why did Collins print a copy of the Boag email? Who else saw it or was informed of its contents? If she didn’t give the information to Lusk or Slater, how did it get to the Herald? If they weren’t involved, why did they run hard on the Pullar issue with an anti-Boag angle from Day 1? Does Collins want us to believe ACC leaked to the Herald? How long does Collins thinks she can hold out?

They eat their own

Written By: - Date published: 2:18 pm, March 28th, 2012 - 96 comments

ACC denies leaking Bronwyn Pullar’s name. It’s not credible that they would act so high risk and so politically. Boag and Pullar clearly didn’t leak it. So, that leaves Collins and her office. Collins denied leaking the email to the media … but leaves a fair bit of wiggle room, doesn’t it? The tipline is, as they say, running hot – and the name on everyone’s lips is Lusk. More soon.

Come back, we were just measuring GDP wrong!

Written By: - Date published: 12:34 pm, March 28th, 2012 - 10 comments

100 jobs a day were lost in January and 1000 people a week left New Zealand for Australia last year but it turns out it was all a mistake! David Farrar has discovered that we measure GDP slightly differently from Australia and if we use their measure then the purchasing power parity-adjusted difference in GDP per capita is close to zero. Hooray!

Workers’ victory over incompetent PoAL management

Written By: - Date published: 8:32 am, March 28th, 2012 - 43 comments

Ports of Auckland must pay the permanent workers among the union members it had illegally locked out. It’s only a partial victory for workers who want to work and have long-term job security, not just get paid for two weeks. But it’s yet another costly defeat for management. How long will they keep burning ratepayers’ money like this before the council acts?

Blood sport

Written By: - Date published: 8:23 am, March 28th, 2012 - 48 comments

Judith Collins has twice told the Prime Minister that she didn’t leak Bronwyn Pullar’s information. But who else could have? The internecine fighting within National is heating up with Michelle Boag saying “When you can’t send a communication to a Government minister without fearing that the privacy of that communication is going to be breached, that’s very, very dangerous.” This is going to end badly for someone.

Who’s building our broadband network?

Written By: - Date published: 12:24 pm, March 27th, 2012 - 48 comments

The Nats selected Chinese company Huawei to build theparts of the UFB network after Joyce and English visited them in China. Now, the company’s been banned from Australia’s UFB project because of links to Chinese espionage. Key’s shrugged it off. Maybe there’s a risk, maybe not. But our government should give a damn and investigate. Its indifference makes it look compromised.

Workers take PoAL management back to court

Written By: - Date published: 10:14 am, March 27th, 2012 - 6 comments

Mediation broke down in the Port dispute again yesterday with the PoAL management still refusing to make any concessions. So it’s back to court for a ruling on PoAL’s lockout without notice. Hopefully, the Court will side with reason, force the Port to allow the workers back and impose  compensation for lost wages along with hefty fines.

Time for workers in the boardroom

Written By: - Date published: 8:20 am, March 27th, 2012 - 20 comments

German corporations’ boards are half employee representatives. This has stopped outsourcing, short-term executive thinking, outrageous executive/director pay and can only have improved worker relations. Their economy is sustainable and powering ahead out of the financial crisis through innovation and productivity. Could such an idea catch on here?

Tough on crime

Written By: - Date published: 9:22 am, March 26th, 2012 - 85 comments

New Zealand has one of the highest rates of imprisonment in the world, and an international study has just highlighted the fact.

Collins’ attack on Pullar continues

Written By: - Date published: 8:53 am, March 26th, 2012 - 58 comments

It’s strange watching National’s factions fight it out in the media- the Herald on Sunday running the Collins/Slater faction stuff and the Dompost running material from Boag/Pullar. Both sides are scum. Pullar received (somehow) the largest leak in ACC and passed to the media. Collins has imitated her fellow ministers by leaking Pullar’s private details in revenge.

This brighter future

Written By: - Date published: 9:19 am, March 24th, 2012 - 33 comments

Growth in the December quarter was 0.3%, a third of the government’s PREFU forecast.

Quarterly GDP per capita, $95/96
Peak, Q4 2007 8,104
When Nats took power, Q3 2008 7,935
Now, Q4 2011 7,777
Brighter Future any day now

Anyone else find it odd that GDP per capita has fallen as much during the ‘aggressive recovery’ as it did during the recession?

Local Board members call for council action on PoAL

Written By: - Date published: 8:40 am, March 24th, 2012 - 38 comments

We’ve received the following press release from Auckland Council Local Board members calling on Len Brown and the councilors to stand up to PoAL’s out of control management. The workers want to work and be more productive. The bosses want to screw them out of their pay to increase profits and are acting irrationally in pursuit of that goal.