Our new coalition government.

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#2332517 8-Oct-2019 13:22

3.9 Billion surplus, thats a fair result.

Allows wiggle room for the rumoured GFC and transport infrastructure spending

Debt figures, which were $2.6 billion below forecast, landing at 19.2 per cent of GDP, well below the Government's goal of getting net debt to 20 per cent of GDP by 2021/22.

If net debt is still that low next year, it will give Robertson headroom of roughly $2.5 billion to spend on essential infrastructure like roads, rail, schools and hospitals in the next budget and still meet his 20 per cent target.

Aside from the re-evaluation of KiwiRail and IRD's taxes, the surplus is largley thanks to a higher than expected tax take.

It's a result of a growing economy that's seen more people in employment, booking pay rises, and businesses making more money.

MikeB4

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#2332529 8-Oct-2019 13:42

A government that has a surplus has ripped off its tax payers

Rikkitic

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#2332560 8-Oct-2019 13:50

Sorry, but that is just silly.

Plesse igmore amd axxept applogies in adbance fir anu typos

tdgeek

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#2332564 8-Oct-2019 13:53

MikeB4:

A government that has a surplus has ripped off its tax payers

Seriously? They all try to achieve that. A surplus isnt extra cash to burn, its there to spend. Much like saving for a rainy day. If they spend every cent every budget, what happens in the GFC thats due? A disaster? A surplus can exist to provide a buffer, National did that most years, its wise. better to have too much than go in the red. Plus, the budget is a future document, if they did better than planned they get a bigger surplus, and vice versa. Is that bad?

Do you prefer they give it back as tax cuts?

MikeB4

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#2332565 8-Oct-2019 13:57

If they have a surplus into the billions they have either over taxed or under spent. If they have spent what they have budgeted for then they should retire debt so that future tax payers are not burdened with it or give the surplus back to the tax payers. The surplus show that the previous governments planned tax cut were affordable.

GV27

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#2332574 8-Oct-2019 14:04

"Sorry Auckland, not enough money for the transit system you need at the moment....or in the next decade. By the way, here's some migration reform to allow more elderly people into the country. Guess where they'll be heading!

Love, Grant"

tdgeek

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#2332575 8-Oct-2019 14:10

MikeB4:

If they have a surplus into the billions they have either over taxed or under spent. If they have spent what they have budgeted for then they should retire debt so that future tax payers are not burdened with it or give the surplus back to the tax payers. The surplus show that the previous governments planned tax cut were affordable.

Debt has been retired. Thats alo performed better than budgeted. How can they guess ahead and look into a crystal ball to see that there was a 3.9 B surplus when they did the budget? If the economy performed better than expected they recieved more tax. If the pessimistic global economy was present here, the surplus may be nil.

Tax cuts are never affordable. Not unless our needs have been met and therefore we are over taxing. many sectors are in need, thats always the case, lets do a bit with them a bit sooner. When the GFC hits we will need to throw money at the economy, thats a given. We are now in a better position for that. that will be tax grants as AUS did, and infrastructure spending. Im surprised you see a surplus as a bonus to give back, while many sectors need spending

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MikeB4

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#2332576 8-Oct-2019 14:10

GV27:

"Sorry Auckland, not enough money for the transit system you need at the moment....or in the next decade. By the way, here's some migration reform to allow more elderly people into the country. Guess where they'll be heading!

Love, Grant"

Can to keep the ageism out of the conversations

tdgeek

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#2332579 8-Oct-2019 14:11

GV27:

"Sorry Auckland, not enough money for the transit system you need at the moment....or in the next decade. By the way, here's some migration reform to allow more elderly people into the country. Guess where they'll be heading!

Love, Grant"

Did he say that in today's speech?

GV27

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#2332623 8-Oct-2019 14:16

tdgeek:

GV27:

"Sorry Auckland, not enough money for the transit system you need at the moment....or in the next decade. By the way, here's some migration reform to allow more elderly people into the country. Guess where they'll be heading!

Love, Grant"

Did he say that in today's speech?

No I've just inferred it from what the Government has actually done, which is very little other than backpedal.

Mahon

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#2332671 8-Oct-2019 14:35

MikeB4:

A government that has a surplus has ripped off its tax payers

Proves to me that this government is largely incompetent. Add this surplus to the billion Shane Jones is running around the country with in his back pocket and its even worse. We have a seriously flawed health system that is screaming out for more something...but no.

Watch what happens as we approach election year. Massive spending will occur yet for the last two years we could have had infrastructure spending as well as health. So much for the war on poverty as well.

In fact most of their election promises have been shelved so they can have a massive spend up in 2020.

ajobbins

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#2332674 8-Oct-2019 14:36

Mahon: Proves to me that this government is largely incompetent.

Did you say the same thing when National has run in surplus?

Twitter: ajobbins

Mahon

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#2332677 8-Oct-2019 14:41

ajobbins:

Mahon: Proves to me that this government is largely incompetent.

Did you say the same thing when National has run in surplus?

Did they run surpluses of this magnitude?

tdgeek

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#2332678 8-Oct-2019 14:42

Mahon:

MikeB4:

A government that has a surplus has ripped off its tax payers

Proves to me that this government is largely incompetent. Add this surplus to the billion Shane Jones is running around the country with in his back pocket and its even worse. We have a seriously flawed health system that is screaming out for more something...but no.

Watch what happens as we approach election year. Massive spending will occur yet for the last two years we could have had infrastructure spending as well as health. So much for the war on poverty as well.

In fact most of their election promises have been shelved so they can have a massive spend up in 2020.

Oh dear. Yes health is seriously flawed., It was overflowing woth cash in 2017 right? Now its seriosuly flawed.

Short memories

tdgeek

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#2332679 8-Oct-2019 14:48

Mahon:

ajobbins:

Mahon: Proves to me that this government is largely incompetent.

Did you say the same thing when National has run in surplus?

Did they run surpluses of this magnitude?

Incorrect. They didnt run for a 3.9B surplus. The economy over performed expectations so the GST and IRD revenues were up. You should be happy the economy is going well. I suggest to read the article.

I get the theme though. If it was a 500M deficit, or a 500M surplus or a 2.2B surplus, it would still be a problem, right? The bottom line is the result is purely that the economy has been above expectations, not the doom and gloom we see globally, lucky us. I thought thats quite obvious to everyone. But its all doom and gloom still.

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