Posts on the economy, work, business, income, and labour
276,000 jobless, of which 168,000 officially unemployed. 115,000 more underemployed.
Big numbers, but remember that the unemployed aren’t a static group being added to every day as the Key Government sits on its hands. In fact there’s a continual churn of people into unemployment and into work much larger than the net increase.
The total pay packet fell for Kiwi workers last year and it will get worse in coming years. Aussie wages continue to rise, their unemployment is falling. If Key is serious about catching Australia he needs a full employment policy. Instead, he will keep doing nothing.
John Key has promised to make tax changes that are revenue neutral, give huge payouts to the wealthy elite, and somehow mean the “vast bulk of taxpayers will be substantially better off”. But it’s a money-go-round. How you can make everyone better off with the same amount of money you’ve taken off them?
With true tory arrogance at the ACT conference this weekend, Don Brash has described New Zealand voters as venal and stupid.
Apparently New Zealand’s reluctance to destroy what is left of their society by implementing Brash’s discredited crazy old man economic voodoo is a sign of their stupidity.
Apparently nobody in ACT disagreed with him. Go figure.
You have to double-check every ‘fact’ the Nats tell you. Bill English, for example, has been caught out lying on Labour’s growth record.
For the last couple of weeks, John Key has been claiming that when Labour increased GST from 10% to 12.5% in 1989 there was no compensation for taxpayers. That too is a lie.
It’s time for the National Party to issue an abject apology to the nation… for the 1992 Building Regulations that directly led to […]
We received this guest post about half an hour after John Key announced his cycleway. At the time, the very sensible criticisms it raises were ignored by an enamoured media.
How prescient it looks now, on the anniversary of the Prime Minister’s Jobs Summit.
The heart of the telecom XT network?
Seriously though, when the 111 call system fails, lives are at risk…
If National is going to legislate democratic procedures for unions taking industrial action, aren’t they bound by consistency to do the same for employers?
Requiring a secret ballot of shareholders before lockouts are allowed would be a good start.
Nothing like a good IT stoush, particularly of the David and Goliath variety. Greenpeace has blown the whistle on Facebook’s use of coal […]
Today in the House David Cunliffe took Bill English on over his lies regarding Labour’s record on economic growth. Rather than admit that he had been using the wrong figures in an effort to make Labour’s record look worse, English compounded his sins by lying to the House.
Another day, another anti-beneficiary story beaten up by Paula Bennett to justify her bennie-bashing policies. Punitive measures against people who genuinely want to find work will not help them. All it does is waste WINZ’s resources re-approving genuinely unemployed workers leaving fewer resources for helping people into work.
The faulty logic behind Roger Douglas’ bill to cut the wages of young workers could just as easily be applied to any number of groups hit hard by the recession – Maori, students, men, dropouts, singles, people in Northland. What if we were to change a couple of key words in his bill?
Success for Opposition frontbenchers largely consists of embarrassing their opposite number by forcing them to answer questions they would rather not. Labour showed both how to do that and how not to do it in the House yesterday.
This man is Paul Reynolds, CEO of Telecom. He has overseen the largest corporate disaster in recent New Zealand history. The Nats are planning to give him over $6,600 a week in tax cuts. Apparently this screw up on a $7 million salary is the kind of guy New Zealand needs.
A Price Waterhouse Coopers report has highlighted the huge returns from each dollar spent on Adult and Community Education (ACE). Farrar and other bloggers have attacked the conclusions of the report and the credibility of PWC, but the attack is bizarre…
Turns out McCully’s shares in Widespread Portfolios are worth 20 cents a pop. $31 total. He paid a grand for them at $5-odd each. Ouch. Are these guys really so good at business? Is mining really such a good bet for the country? And what is hidden away in the trusts?
Two industrial relations bills from the Right were pulled from the ballot today.
The first, Roger Douglas’ bill to restore youth rates, is just the usual ACT Party kick the poor stuff.
But Tau Henare’s bill on strike ballots is just plain stupid.
Duncan Garner: “Key must get the compensation [for GST] right or there will be a backlash from voters” Problem is, you can’t get everyone to put some money in a bucket, give a large chunk of it to the rich and then compensate everyone else for what they put in with what is left. It can’t add up.
Bill English’s argument that cutting taxes for the few at the top can cause an economic step change has always been nonsense.
His appearance on Q&A yesterday simply confirmed it.
No chance some gang f#ckwits would be deterred by longer sentences.
What happened to that plan of Key’s to end whaling?
How do we get a high wage economy when National opposes each and every wage rise?
An excellent piece by Rod Oram in the SST. More sophisticated governments are focusing on smart and sustainable growth but National thinks wealth comes from more milk and selling off our irreplaceable natural resources as quickly as possible.
The new Aussie Liberal leader, Tony Abbott, has been widely derided for saying Australia should ape National’s economic policies. “Abbott’s remark came the day that Australia’s unemployment rate fell from 5.5 to 5.3 per cent. The NZ rate? It’s 7.3 per cent.” We should copy their stimulus policy, not the other way round.
At TED2010, Bill Gates unveils his vision for the world’s energy future, describing the need for “miracles†to avoid planetary catastrophe and explaining why he’s backing a dramatically different type of nuclear reactor. The necessary goal? Zero carbon emissions globally by 2050.
It is not often that I compliment the authors that write for No Minister. However I have to compliment SageNZ for his prescient […]
When you’ve got a Finance Minister who can’t get stats right, a Social Welfare Minister who can’t define her flagship policy, and an Education Minister who can’t explain her flagship policy, it’s easy for an incompetent Women’s Affairs Minister to slip through.
John Key’s recent stint at the Big Gay Out wasn’t all target marketing and niche political branding. He also had a run in with living-wage campaigners who took him to task for his government’s poor response to minimum wage earners and asked if he could live on the minimum wage.
While measures to fix problems in investments are good, the best approach is increase financial literacy. However Anne Tolly has already shown she does not understand education. Her idiotic decisions to destroy adult community education has removed the best channel for promoting knowledge amongst current investors. This suggests that the government isn’t serious and we are seeing more PR than substantive measures.
An interesting piece from One News. Bill English gave another underwhelming speech on National’s economic plan, which basically boiled down to ‘tax cuts!’. A young businesswoman in the audience told English she wanted a real plan. His response: ‘tax cuts’. But he could give no proof his tax cuts would improve the economy.
BLiP gives the best definition of the Key Government’s billion dollar Whanau Ora plan to date: “Whanau Ora = privatisation of social services.â€
Yeah, it does. But I’m still struggling to understand what social services. Will Whanau Ora providers be running hospitals and clinics? Will they be running schools? Will they be making dole and super payments?
Is it just me or does this ‘financial hub’ idea of John Key’s sound a bit too much like a get rich quick scheme? Apparently all we have to do is exempt foreign owners of foreign assets stored in NZ-based trusts from tax and the money will roll in.
It’s hard to decide which is worst: Do Nothing John Key flouncing around the country while thousands of Kiwis lose their jobs, the Joyce cabal pushing their hard-right economic agenda, or the rest of them who don’t have two brain cells to rub together.
The Dompost has repeated English’s false claims on GDP growth. They trusted the Minister of Finance to get his maths right. But English’s numbers are completely wrong. He can’t do simple maths, no wonder there’s no government leadership on the economy.
The business elite wants to drag us back to the days of unfair elections and weak democracy, when business interests held even more sway than now. We don’t want to return to those days. We want to keep the best electoral system in the world – MMP.
Key doesn’t have the money to keep his promise to make everyone better off or at least no worse off from tax reform. He doesn’t have pixies in the garden to make more money. But he can cut the bottom tax rates, and a new poll shows strong support for that move.
