The cost of the surplus
Where are our priorities?
Where are our priorities?
There are no surpluses in NZ right now, not in any real sense. There is only debt, negative externalities and deferred costs.
Bernard Hickey: “It is extraordinary for the Prime Minister to call the Treasury’s short and long term forecasts a “load of nonsense” and yet rely on the medium term ones to promise all manner of riches to voters on the eve of an election.”
In Year Eight of this National government, the idea of a budget surplus is a joke. They’ve promised it for nearly a decade. They’ve fiddled the books. The truth is, there is no surplus.
Record debt, a higher than expected deficit and a credit rating downgrade on our economic outlook. All thanks to National’s genius economic management!

The on again off again surplus is on again. Key will be kicking himself for telling us all that we’re not interested in this artificial target.
One of the biggest political deceptions in our lifetime? Or just an honest mistake by our noble Finance Minister?
Apparently this budget surplus that the Nats have been going on about for the last 6 years is an “artificial” target that is “like trying to land a 747 on a pin head”.
A National government which loves to cut taxs + workers and business being overcharged ACC levies = levy cuts, right? Wrong!
The Nats are going to miss the only target they ever cared about hitting – the mythical surplus. Seven wasted years and counting…
Steven Joyce is asking about how Labour can afford their policies. Half of the money is what National is planning to spend unwisely. The rest is from documented increases in revenue in a fiscal plan. Unlike National’s mythic surplus, these are solid values. They will produce a solid surplus to pay down National’s debt.