Posts on the economy, work, business, income, and labour
Written By: - Date published: 8:18 am, July 6th, 2010 - 49 comments
Neo-Liberalism is a failure; not just in human terms, but by its own measures. Since the concepts of neo-liberalism were taken up by Roger & Ruth 26 years ago neo-liberalism has driven down wages as a share of GDP, massively increased inequality and stripped workers rights.
Written By: - Date published: 7:34 pm, July 2nd, 2010 - 7 comments
KiwiBank boss, Sam Knowles wants the Government to step up to the plate and improve NZs saving rate, through making KiwiSaver compulsory.
Written By: - Date published: 9:57 am, July 2nd, 2010 - 25 comments
Pansy Wong on the gender wage gap: “It was the case that the gap was between men and women was at 12% since 2001. After 18 months of the National Government the pay gap is now 11%.” Um. No, it’s 12.3%. When are these Nats going to learn that in the age of the internet and publicly accessible statistics you can’t just lie and expect to get away with it?
Written By: - Date published: 8:40 am, July 2nd, 2010 - 90 comments
Bill English claims that our low national savings rate is due to the ‘government paying for everything’. According to English, people don’t need to save because the government pays for early childhood education, superannuation, Working for Families, and interest-free student loans. Does he have any evidence that is the case? Of course not. The evidence points the other way.
Written By: - Date published: 10:38 am, July 1st, 2010 - 30 comments
John Key wilted yesterday as he attempted to cover for the fact that most Kiwis will be worse off thanks to his GST hike and cuts to public services like early childhood education, which don’t eliminate costs, just pushes them on to families. He went wrong pretty quickly, claiming a couple called ‘Bill and Mary Smith’ had called to thank him, then admitting he had made them up.
Written By: - Date published: 3:00 pm, June 30th, 2010 - 28 comments
In a moment of uncharacteristic political honesty, John Key has come clean on his ETS. It loads “disproportionate” costs on to householders. National’s scheme is all about keeping things sweet for their business mates – muffling the price signal that an ETS is supposed to send by (as usual) socialising the costs.
Written By: - Date published: 11:25 am, June 27th, 2010 - 10 comments
Australia is looking at quality mark for products from ethical supply chains.
We should too.
Written By: - Date published: 9:15 am, June 25th, 2010 - 44 comments
The point of an ETS isn’t to just blindly pay more, it is to change our behaviour so that we don’t have to. National don’t get it, so they have brought us the worst of all possible ETS schemes. Badly designed and devoid of vision. An ETS with all of the costs and none of the benefits.
Written By: - Date published: 11:15 pm, June 24th, 2010 - 42 comments
Unique in the world, we task our Reserve Bank with only one goal – keeping inflation in the target range – and give it one blunt tool to achieve it. Adding other objectives would bring us into line with other countries and giving the Bank better tools is long overdue. We need a smarter, more sophisticated approach to monetary policy. It is great to see the Left pushing for it.
Written By: - Date published: 6:55 am, June 24th, 2010 - 28 comments
The first budget from the new Tory-LibDem government is a shocker, with massive austerity cuts and a rise in VAT to 20%. This is the bill for the £850 billion bail out of big banks coming home to roost.
Written By: - Date published: 9:06 am, June 23rd, 2010 - 26 comments
Why should we care about five dead rich mining executives? Makes me feel pretty sick thinking about the warped coverage these stories get. Deaths of poor dark-skinned people by the hundred are so routinely ignored. And anyone ask what they were mining there? Foreign mining interests in that part of the world triggered the Great War of Africa. But who cares, eh?
Written By: - Date published: 12:22 pm, June 21st, 2010 - 9 comments
Tony Ryall, like Anne Tolley, is facing a big fight over wages. The health budget is chock-full of cuts as it is and Ryall says there simply isn’t any money to give doctors pay rises as they and other workers face nearly 6% inflation next year. The government can find billions for tax cuts for the rich but not to pay doctors and teachers. Priorities.
Written By: - Date published: 9:49 am, June 21st, 2010 - 44 comments
Many think that Capitalism has been corrupted, socialised. It hasn’t – it’s been purified. We used to have capitalists that produced things; they weren’t the worker’s friend, but they did actually serve a purpose, setting up factories, providing the machinery for workers to use. But now we have a new class of capitalist that doesn’t […]
Written By: - Date published: 1:33 am, June 19th, 2010 - 14 comments
We know that the foreshore and seabed deal does not do what the Maori Party was established to achieve but, almost paradoxically, it gives iwi the veto and mineral rights that will be seen by businesses wanting to undertake activities like aquaculture, tourism, and undersea mining as imposing an unknown and possibly very large tax from an unaccountable power.
Written By: - Date published: 11:01 am, June 18th, 2010 - 7 comments
President Obama has just come out and said the US and the world needs to get off its oil addiction. But, just as we’ve been talking about climate change for nearly two centuries, before it was even a problem, and done nothing about it, Presidents have been declaring its time to end the oil age for 40 years and nothing has changed. Why can’t we get serious about saving ourselves?
Written By: - Date published: 10:05 am, June 17th, 2010 - 15 comments
You know, if we don’t give those mining companies some more free seismic data, rent-free access to our most precious natural environments, and only demand low royalties when they dig up our minerals, we’ll lose them to the lucky country. That’s right, Afghanistan. It’s sitting, quite literally, on a gold mine and it makes ours look like small change.
Written By: - Date published: 9:58 am, June 15th, 2010 - 2 comments
Fabians Lecture tonight: Economics for Everyone in Auckland Trades Hall, 147 Great North Rd, Grey Lynn 5:30-7:30 Jim Stanford on why the Economy is too important to be left to Economists.
Written By: - Date published: 8:54 am, June 15th, 2010 - 17 comments
At the moment the UK is debating a rise in Capital Gains Tax, from 18% to 40 or 50%. The debate is largely going on within the ruling Tory party, as their coalition partners the Liberal Democrats won several tax concessions so that they could create a GBP10,000 income tax free band. The proposed tax rise is to treat earned and unearned income the same.
Written By: - Date published: 11:19 am, June 14th, 2010 - 19 comments
The Deep Horizon oil spill drags on and on and the estimates of the daily leak keep growing. The oil industry has proven itself incapable of plugging an oil well leak in deep water. Yet the government is pushing ahead with deep sea drilling a disturbingly dismissive attitude towards what is happening in the Gulf of Mexico and could happen here.
Written By: - Date published: 5:49 pm, June 11th, 2010 - 13 comments
Press release by Te Matarahurahu Hapu. A Ngapuhi tribal leader will be insisting at the Waitangi Tribunal hearings next week that a special tribal tax be imposed on all residents living within Ngapuhi boundaries. David Rankin, the Chairman of the Matarahurahu hapu…is proposing a flat tax rate of 9 % be applied to every person living within Ngapuhi’s tribal territory.
Written By: - Date published: 10:34 am, June 11th, 2010 - 15 comments
According to Treasury, Kiwi workers’ combined incomes will be $1.5 billion lower when Key leaves office than when he entered. But the Nats aren’t done. The next stage is to attack holidays. The method of calculating sick and holiday is going to be changed to shaft shift workers. While the ‘choice’ to sell one week’s annual leave to the boss will see your work hours go up more than your pay.
Written By: - Date published: 1:46 pm, June 10th, 2010 - 21 comments
National’s budget broke a number of economic promises. One that’s not been emphasised enough is their commitment to be fiscally neutral. Labour got New Zealand to $0 net government debt. Now we are headed back into the red again and National is making it worse, not to create jobs to help ordinary Kiwis through the recession, but to fund tax cuts for their rich mates.
Written By: - Date published: 6:15 am, June 10th, 2010 - 74 comments
According to Social Development Minister Paula Bennett, the welfare debate could get nasty: “we may even see an ugly side of New Zealand”. Well here’s a newsflash – the welfare debate is already ugly. The Nats have worked long and hard to make it ugly. Paula Bennett the ugly side of New Zealand is you.
Written By: - Date published: 11:50 am, June 9th, 2010 - 30 comments
The best form of welfare is a decent job. During it’s nine years in power, the fifth Labour government cut the number of beneficiaries by 150,000 by getting people into work. So assisting more sickness and invalid’s beneficiaries into work is a good idea. But you can’t help people into jobs that don’t exist. The danger is that the government will simply make it harder for people to get the help they need.
Written By: - Date published: 12:01 pm, June 8th, 2010 - 51 comments
The dearth of long weekends this year has made me feel cheated. And now with Queen’s Birthday over it’s a long wait till Labour weekend in October. That’s not fair dammit. It’s time to give Matariki its due and celebrate with a Monday off in July.
Written By: - Date published: 10:20 am, June 8th, 2010 - 24 comments
According to a new report: “New Zealand is a great place for children if their parents have a good income, live in a warm dry house and are well educated.” However if you’re not born into a privileged household, then death and disease “is worse than that of all but two [developed] countries, Mexico and Turkey.”
Written By: - Date published: 10:55 pm, June 7th, 2010 - 33 comments
One of the most popular uses of trusts is to hide income for tax avoidance or evasion. So, I was happy to read about the IRD’s success in a recent court case against two surgeons. The court found these two very rich men had used trusts to avoid tax to the tune of $168,000. The case will have big ramifications, potentially shutting down one of the biggest tax rorts in the country.
Written By: - Date published: 2:01 pm, June 6th, 2010 - 21 comments
Tall poppy syndrome. It’s one of those useful, mindless terms that comes up again and again in our political discourse. Like its cousin ‘PC’ it is used to delegitimise any criticism the behaviour of those with privilege and power towards others. It survives because it is useful to an elite, not because it makes any sense.
Written By: - Date published: 8:36 am, June 5th, 2010 - 59 comments
National really, really wants to sell assets – it’ll be worth a fortune to their rich mates who can’t seem to generate any success on their own without a government hand out. But the public is firmly against asset sales. It would be an election losing campaign issue. So, National will play a game of ambiguous promises and confusing financial moves to sell without appearing to sell.
Written By: - Date published: 8:15 am, June 5th, 2010 - 13 comments
Read this story to understand why the real economy in New Zealand struggles to get ahead of a volatile currency driven by overseas speculators that devalues our exports. They also like to talk our interest rates go up. If you’re in Christchurch, come to the Fabian seminar next Tuesday 8 June at Mancan House, 253 […]
Written By: - Date published: 11:47 pm, June 2nd, 2010 - 39 comments
I am ruling out selling Kiwibank at any point in the future/Asset sales are on the table for a second term
We won’t be raising GST/We’re raising GST
My trust is so blind I have no idea what’s in it/Owning a vineyard is great fun
Anyone else seeing a pattern?
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