Cutting taxes borrowing for tax cuts then no surplus for at least 5 yrs is not good economic management. Austerity has taken the lifeblood out of the economy. That doesn't bode well with the. World security in a precarious situation.
So why did they cut taxes for the well-off and give nearly three billion dollars to landlords? What is it with this myth that National is the party of economic genius?
How did they give 3b to landlords......if you are talking about the reinstatement of interest costs beeing a tax deduction, this has been the case for ever until very recently. When this duction was removed from beeing an expense (which it is) rents skyrocketed as land lords need to cover costs.
Do you understand bracket creep with peoples income increases on lower incomes? The tax brackets needed to move as people on minimum and the living wage were creeping into higher tax brackets hence the movement of tax brackets it’s really simple when you think about it. Yes people on higher incomes got tax relief as well however that is the result of moving the tax brackets. I’m certainly happy with my extra $20 a week. As for landlords this was not a give away , this was just the reintroduction of a legitimate business expense claim. When Labor introduced this tax on landlords it had the opposite effect that they told everyone would happen and which treasury advised them against.
@barneyboy2008 because interest costs are real costs like when a business buys a truck to deliver or food, it is a cost and, as such, a deduction. It's not a cost to tax payers at all. The removal of interest as a deduction only happened 3 years ago and what happened, every land lord increased rents to renters. If they did not do this, they would have sold the house, and that renter would be out on the street. By your logic, why should the government provide any state housing at all as tax payers are footing the bill for that also. if the private sector does not provide housing, the government will have to all at the expense of tax payers.
All these people blaming labour yet this govt still borrowed another 10billion to add to the debt for measly tax cuts that every economist said they could not afford. Even worse at managing the finances
Credentials for Nationals finance minister - dad's an oil man and you've got a degree in English Lit. I say this with no animosity or ill will - Nicola is out of her depth and should be sacked.
This is because labour was on a massive spending spree. You aree correct 10b is crazy. They should remove 10b from benefits instead and they did not reduce taxes by 10b so...
@@yeahnah252credentials for last finance minister- I have a BA in art! And his running of the finances is why we are in this mess that National has inherited.
yup - and it's too late for cap gains tax anyway - decades worth of future wealth has already been transferred to people who already had wealth. The structural damage is already done on that front.
They gave $2 billion in tax breaks back to landlords. They spent $14 billion on changing tax brackets and other tax adjustments that served those on high incomes but provided little for the rest of us, they picked winners in social spending - like Mike King but unilaterally cancelled contracts of other vital social service providers, they're putting money into roading but short-changing the interisland connection, they're funding charter schools instead of supporting state schools and Seymour's new Ministry of Deregulation is investigating how to allow hair salons to serve beverages and allow dogs inside. They didn't have a plan. The coaltion has lost its mojo.
And your answers to our economic woes is what? This government inherited an economy that was in a very bleak place and you cannot turn something like that around in 12 months. Important to remember that the last government increased government workers and cost by 84% during their term. What got better? Nothing so now National and their coalition partners are having to do the hard work to get us back on track.
@theothomas4287 you know mate, you are spot on. My bad. Everyone's still trying to fix Ruth Richardson 'mother of budgets' decades on. Just never thought they'd try to go down the same playbook again....
THEY CERTAINLY ARE NOT TALKING ABOUT THEIR PERKS, FREE MEALS, GOLDEN TICKTS WHEN THEY LEAVE, THE LIMOUSINES, 5 STAR + HOTELS, FIRST CLASS TRAVEL, ACCOM SUP, ETC ETC ETC....bunch of grifting a holes
So you think the govt has spent too much, but at the same time compain about cuts? would you advocate for spending your money on more tax? What is your solution?
Things were always going to be bad after the pandemic and high inflation doesn’t matter which way around the governments were. Most countries around the world witnessed similar things over the pandemic, there central bank actions , high inflation after. Drop OCRs now, businesses and unemployment worries, GDP tracking down, bad gdp per capita numbers, house rental prices skyrocketing, rental prices flattening out, housing prices dropping. There’s many comparisons in many countries about many things from 2020 to now with some countries ether a little ahead or behind. Governments didn’t make much difference. If people want to blame anyone blame the pandemic or central banks that didn’t have much choice AT THE TIME with the knowledge of the moment
Tax revenues have dropped...because a lot businesses have gone bust. Stop obsessing about the surplus ! You need to run a deficit budget to get the economy going....
Austerity is the worst possible thing to do when a country's in a recession. The govt needs to invest more in the people not less to keep the economy going. Skilled workers are leaving the country in record numbers thanks to the deodorant salesman and his English literature finance minister.
That’s what happens when you give tax cuts, when the country can’t afford it. The cuts in public services hurts poor people more, and they got the least of tax cuts. Austerity always hurts the poorest people more than anyone else. We are worse off than we were before the government was voted in.
@joyandrews3804 No , it was bad then too . That's why labour got kicked out You just think because they shaved a few excess-to-requirement public servants that we're worse off . I work with in a government funded industry . It's a bludge fest . Keep cutting . Make the ones who are left actually work for their pay .
@nancydrew1102 was talking about it being underfunded. Lack of nurses and doctors but no hiring because not enough money. There's plenty of overseas nurses doctors here already that are waiting but they've shut down the hiring due to lack of funds
@@kiwikiwi223this government has spent more money on health and hired more nurses than the last government did. Rectifying a train wreck of a health system that this government inherited does not happen overnight.
@@barbarathomas2561 and all the pay for labour and te pati Māori MPs until they come up with solutions instead of complaints . Achieving nothing in the time they were in power but more debt burden.
GDP is a insane way to measure countries. Doesn’t take into account people‘s well-being or the environment. complex systems shut down at one some point as we can see right now, can we just let capitalism die before we do. D growth please
Reorder and buy the ferries needed. Re instate the building programs already in progress. Get rid v this disastrous accountant playing at being finance minister. National is ruining NZ. The MPs should take paycuts and cut perks.
Labour left NZ broke and unable to pay bills, And you think we should have kept borrowing money and digging the hole deeper ?? We aint got BILLIONS to spend on vanity projects. Fantastic that adults are in charge again to start getting us out of the Labour nightmare
@@Stoneynz Labour were pretty bad, especially with Covid largesse to undeserving corporates - but even so they were infinitely better that the debt champions, Key and English. Is it too much to ask for basic competence in government? Tax breaks for real estate speculators is not growing the economy - on the contrary, it blows out a deadweight cost - cost of living, and necessitates wage inflation. Even someone as thick as Nicola Willis should know better.
Landlords receive $2billion each year in taxpayer handouts and pay no capital gains tax. So any tax landlords do pay is giving taxpayers their money back.
Investment is what makes money not withdrawing funds all the time. If a business was run that way it goes bust which is what most business are doing which increases cost to government and reduces productivity
@stevehughes1510 labour have stated on many occasions they will not introduce capital gains tax. Also if you buy and sell a rental you can be charged tax under the bright line rule. If your sole source of income is buying and selling property they you are charged corporate profit tax now.
@@RoniCarbine You're mistaken roni, chippy(the bloke who doesn't know what a woman is) stated it again at their conference the other week re a CGT, and that's just one other reason why they're dead in the water.
Its funny if you are 'remotely incompetent' or even 'remotely try to alter the books' (or blame the economy lol) as a hands on working employee you would be kicked out in a blink of an eye but when it comes to top upper management/goverment, incompetency and openly lying is encouraged......
They will "potentially" be saving money by offloading AT/Auckland Transport away from the Govt books back to the AKL Council.. kinda like blame shifting IMHO.
Its world wide. The rich expect half the planet to be destroyed soon. They are stealing all they can an building bunkers away from the ocean and rivers.....
Is Ms Willis the person for the job? She’s doing a lot ah’s & umms with a little back peddling & not at all confident. It seems she’s not on the right track because adding more huge debt to our current huge debt is what she said she couldn’t do. You’ve had a year, its not going well, hand it over & move on!
She learned nothing during the first year. Let's cut more jobs it reads. Sure, apparently the first attempt went extremely successful, and raised tax revenue and business confidence big time.
Fontera made a billion post tax profit last year. We are paying more for everything, so where is the money going. It isn't to nurses or teachers (increases in these wages mainly go straight back to the government in taxes).
$10B+ has left the country in power company dividends since Key sold 49% of our power companies. Has electricity got any cheaper... hell no, privatisation costs the public.
It's a juggling act for these guys and girls after the last lot of Labour numpties and their covid, ferry debacle and other blowouts, who'd want to be doing this right now, it's a hard road.
@@marcusmelville4111 Not by much. And then they are rehired through external emplyment agencies to do the job they were doing before at a higher cost to the tax payer. I know this for a fact from first hand experience over the last 12 months.
@raywheeler3135 Still preferable as when they're no longer needed for whatever overflow they can just not have contracts renewed, rather than having a bunch of people being paid to sit around on taxpayer cash.
You need a build economy. A growth economy. There's very little incentive to start business here, besides to price gouge 5 million people (a small pond)
It's all completely unnecessary. A big storm is coming and they're choosing to not maintain the country. They should separate north and south islands into two countries so that we don't have to fix the ferries. I will not take the ferries because I'm too scared to go on them. Bring the arahua back from India.
Nobody is interested in buying resources from a nation that's too far away that has virtually no manufacturing capacity. Maybe farming. But oil isn't going to do anything for NZ
@kentaylor2416 They are dealing with it, the debt labour incurred. Every country that decided not to do major lock downs like Sweden is doing much better than everyone else.
Thankyou Nationals Nicola! Ka pai ...We can all heal now and move on...Yeah right! 🤣 NZ $100 billion debt for 5 million population // OZ $25 billion debt for 25 million population that is why we kicked Labour, Greens to the gutter! Wadda ya reckon? Australia you can do better get rid of Labour 💯 Haere ra and Merry Xmas 💯
I don't recall Labour borrowing for tax cuts but I do remember them borrowing to keep business' open and actually delivering growth during Covid unlike most other OECD countries. Look at NZ's debt to GDP when cLuxon took over compared to this stagnant swamp we've been delivered by this coalition of self interested crocodiles.
Labour put us into this situation that's why they we voted out don't think people that voted for this government to turn things around for years. Labour was like a reckless student with a credit card.
Reckles was the 14.7 billion in tax cuts and the 2.9 billion for landlords . Both unnecessary and that is all on them .NOT LABOUR . Nicky no boats the ferries have turned into a total farce due to these idiots. .
17.6 billion in tax cuts including the landlord tax cut. That were not necessary and created this huge hole of no money in tbe coffers now borrowing more than Labour who had to deal with COVID . Not going to get tax revenue when you are laying people off . They are a disaster .
The national party had "rock solid" numbers during the election campaign. They were told by a number of economist that they were wrong............ now the only excuse is blame Labour............ Yeah right
Nicola Willis is a liar… she puffed her ego before getting into power - saying it will be a surplus and that the ferries needed to be cancelled, and now she makes these subsequent announcements… what a joke! And after cancelling so many infrastructure projects (rail, ferries), government jobs, and social safety nets. She needs to accept responsibility not blame the other government. The people aren’t buying this…
How come Grant & Jacinda are allowed to just walk away from this mess with cushy jobs - something we don't hear enough of is how politicians can be held to account. Voting people out simply doesn't cut the mustard when you consider the long term damage a handful of inept/lying politicians can do to a country; this is going to take at least 5-10 years to fix & where are they now? Enjoying 6/7 figure salaries with ZERO accountability. They should be in jail!
They didn't ruin the economy? NZ was a top performer during the pandemic. Lauded by Nobel prize winning economists and followed by large economies like the US. That's why I have most of my investments there, because the Biden administration deficit spent their way to massive profits. Now NZ is a bottom performer, desperate for low wage workers from overseas. Losing skilled workers, because the government refuses to spend any money on projects that actually help businesses.
@@deanlesliehawea506sad state of affairs, Māori getting a raw deal $1 lease per annum rail lands and 6% rateable land value on crown held central and local govt Māori lands. Māori land both public and privately held 100yr pepper corn lease with right to renew or on-sell is pathetic. Being promised infrastructure and services to be built on Māori land given to the Anglican church for specific purposes for the land to be sold off for profit with none services ever materialising and no financial benefit to Māori. As tangata tiriti what can I say, toitū te tiriti. Learn our countries history starting from 1806 Te Awaroa Native reserve Bank ask questions and seek truth🖤♥️
@@Stoneynz Landlording is the only "business" that receives $2 billion each year in tax payer handouts and pays no tax on the only true source of profit (i.e. capital gain). So no they aren't a BUSINESS.
Define "above our means". Because that term has been used for decades and now we are in the middle of a infrastructure deficit, housing crisis and declining wages and productivity. All of which has been caused by underinvestment in infrastructure, overseen by mostly National led governments and their obsession with tax cuts. Labour's spending was an attempt at catching up with that deficit, so what do you mean by your statement given the lacking state of NZ.
Not really. NZ's debt is below most OECD nations. UK and US would love our level of debt. And they'd immediately double it day one if they had our debt. Still is. Difference now is, were losing money and spending it on nothing.
Robinson in election year: "Now is the time to spend BIG." Labour: tax tax tax, borrow billions, then pour the money down the toilet with no improvement anywhere except to increase the numbers of beneficiaries and gang members.
@@kentaylor2416 Rental rents rarely cover the rates, insurance, damage, mortgage or risk. Petty landlords pay for rental houses out of their pockets, hoping that in time the value of the rental will increase with inflation. Mortgage interest has always been a reasonable expence against tax.
Might as well swallow some kiwi pride and ask to become another state of Australia before youse completely 'sunk' just like your $100mil navy 'shup' did just recently 😂
Cutting taxes borrowing for tax cuts then no surplus for at least 5 yrs is not good economic management.
Austerity has taken the lifeblood out of the economy.
That doesn't bode well with the. World security in a precarious situation.
So why did they cut taxes for the well-off and give nearly three billion dollars to landlords? What is it with this myth that National is the party of economic genius?
How did they give 3b to landlords......if you are talking about the reinstatement of interest costs beeing a tax deduction, this has been the case for ever until very recently. When this duction was removed from beeing an expense (which it is) rents skyrocketed as land lords need to cover costs.
Do you understand bracket creep with peoples income increases on lower incomes? The tax brackets needed to move as people on minimum and the living wage were creeping into higher tax brackets hence the movement of tax brackets it’s really simple when you think about it. Yes people on higher incomes got tax relief as well however that is the result of moving the tax brackets. I’m certainly happy with my extra $20 a week. As for landlords this was not a give away , this was just the reintroduction of a legitimate business expense claim. When Labor introduced this tax on landlords it had the opposite effect that they told everyone would happen and which treasury advised them against.
@@RoniCarbine why should taxpayers subsidise you to take on massive debt. No real business would survive with 80% of its costs being interest.
@barneyboy2008 because interest costs are real costs like when a business buys a truck to deliver or food, it is a cost and, as such, a deduction. It's not a cost to tax payers at all. The removal of interest as a deduction only happened 3 years ago and what happened, every land lord increased rents to renters. If they did not do this, they would have sold the house, and that renter would be out on the street. By your logic, why should the government provide any state housing at all as tax payers are footing the bill for that also. if the private sector does not provide housing, the government will have to all at the expense of tax payers.
All these people blaming labour yet this govt still borrowed another 10billion to add to the debt for measly tax cuts that every economist said they could not afford. Even worse at managing the finances
Exactly..At least Labour had a legit reason.
Credentials for Nationals finance minister - dad's an oil man and you've got a degree in English Lit. I say this with no animosity or ill will - Nicola is out of her depth and should be sacked.
This is because labour was on a massive spending spree. You aree correct 10b is crazy. They should remove 10b from benefits instead and they did not reduce taxes by 10b so...
@@yeahnah252credentials for last finance minister- I have a BA in art! And his running of the finances is why we are in this mess that National has inherited.
They'll be taxing the lower/middle income earners before they ever add capital gains or a wealth tax.
yup - and it's too late for cap gains tax anyway - decades worth of future wealth has already been transferred to people who already had wealth. The structural damage is already done on that front.
@@Randymountaine most of nz are low middle income earners.
They gave $2 billion in tax breaks back to landlords. They spent $14 billion on changing tax brackets and other tax adjustments that served those on high incomes but provided little for the rest of us, they picked winners in social spending - like Mike King but unilaterally cancelled contracts of other vital social service providers, they're putting money into roading but short-changing the interisland connection, they're funding charter schools instead of supporting state schools and Seymour's new Ministry of Deregulation is investigating how to allow hair salons to serve beverages and allow dogs inside. They didn't have a plan. The coaltion has lost its mojo.
Is that it?
Unpaid student loans account for over 16 billion.
What's gone wrong is that she is utterly and totally incompetent and clearly just a puppet or dummy.
And your answers to our economic woes is what? This government inherited an economy that was in a very bleak place and you cannot turn something like that around in 12 months. Important to remember that the last government increased government workers and cost by 84% during their term. What got better? Nothing so now National and their coalition partners are having to do the hard work to get us back on track.
@theothomas4287 you know mate, you are spot on. My bad. Everyone's still trying to fix Ruth Richardson 'mother of budgets' decades on. Just never thought they'd try to go down the same playbook again....
The equivalent of credit card borrowing to pay yourself a wage.
No tax cuts the govt would have a surplus.
Does this mean Polititians will not get any more pay rises over the next few years maybe then we might our economy back to a Healthy state.
Yeah they were certainly first in best dressed when they took office for that one
2.4%, back dated to last year
THEY CERTAINLY ARE NOT TALKING ABOUT THEIR PERKS, FREE MEALS, GOLDEN TICKTS WHEN THEY LEAVE, THE LIMOUSINES, 5 STAR + HOTELS, FIRST CLASS TRAVEL, ACCOM SUP, ETC ETC ETC....bunch of grifting a holes
National cooking the books for at least the third time this month to cover up for Nicola Willis' complete and utter incompetence.
Absolutely 100 percent right there. Totally agree no idea cut jobs in the public sector to try and get money.
So you think the govt has spent too much, but at the same time compain about cuts? would you advocate for spending your money on more tax? What is your solution?
Charities Tax 🤔
Is that like shaking a can in front of us or ads like "Save the Country" donate N.O.W 😂
Yeah labour left the economy in a real good shape!!
Things were always going to be bad after the pandemic and high inflation doesn’t matter which way around the governments were. Most countries around the world witnessed similar things over the pandemic, there central bank actions , high inflation after. Drop OCRs now, businesses and unemployment worries, GDP tracking down, bad gdp per capita numbers, house rental prices skyrocketing, rental prices flattening out, housing prices dropping. There’s many comparisons in many countries about many things from 2020 to now with some countries ether a little ahead or behind. Governments didn’t make much difference. If people want to blame anyone blame the pandemic or central banks that didn’t have much choice AT THE TIME with the knowledge of the moment
When people were struggling during Covid, Jacinda took a pay cut. When people are struggling now, Luxon sold houses and made a profit.
And changed the law to pay no taxes.
Tax revenues have dropped...because a lot businesses have gone bust. Stop obsessing about the surplus ! You need to run a deficit budget to get the economy going....
Thats what has caused the problem.
@@neilmarshall5087That's not what the experts say but this government isn't great at taking advice.
Austerity is the worst possible thing to do when a country's in a recession. The govt needs to invest more in the people not less to keep the economy going. Skilled workers are leaving the country in record numbers thanks to the deodorant salesman and his English literature finance minister.
@@suehowie152 Please provide evidence that running at a deficit is lauded as the way to make a profit.
@@neilmarshall5087 Go and ask economists...or do you know more than them?
Of course they cooked the books the government is so full of it who voted for these fools
That’s what happens when you give tax cuts, when the country can’t afford it. The cuts in public services hurts poor people more, and they got the least of tax cuts. Austerity always hurts the poorest people more than anyone else. We are worse off than we were before the government was voted in.
@joyandrews3804 No , it was bad then too . That's why labour got kicked out
You just think because they shaved a few excess-to-requirement public servants that we're worse off .
I work with in a government funded industry . It's a bludge fest .
Keep cutting . Make the ones who are left actually work for their pay .
@chateaupig826 not enough doctors and nurses. Too many cuts to health nz
@@kiwikiwi223that a global problem , when you fire for no jab . This is the cost .
@nancydrew1102 was talking about it being underfunded. Lack of nurses and doctors but no hiring because not enough money. There's plenty of overseas nurses doctors here already that are waiting but they've shut down the hiring due to lack of funds
@@kiwikiwi223this government has spent more money on health and hired more nurses than the last government did. Rectifying a train wreck of a health system that this government inherited does not happen overnight.
It's always the same old story - austerity has never worked, and won't work now.
Good, give them the boot next election. This finance minister is full of shet.
We have been walked up the path of dishonesty by egghead.
I smell an increase coming in GST. 15% > 20%?
The consumer will pay like it always does, Business will simply pass the cost on like we always do
Why give the tax cuts to the rich and wealthy people 😂😂😂
Not to rick you muppet.
They didn't lol.
What a brain dead boomer statement.
Clueless about the impact of their tax cuts before the election, even more clueless over a year later 🙎♂️
Unless Luxon takes control and puts National in a new direction, he will suffer the biggest loss in political history which will be awesome.
How does someone with not even a finance degree get to be the finance minister?
That’s a genuine question
True, Robertson had a degree in Political science and look at the decades of damage he has done to our once thriving country.
National opens books to show legacy of past National policy - Luxon's head appears to be an irony and intelligence free zone.
3:29. Cut Seymour's pay. And the rest of the useless ne'er do wells ....
Don't forget the greens maori party and especially tpm. Who actually do the least
@@barbarathomas2561 and all the pay for labour and te pati Māori MPs until they come up with solutions instead of complaints . Achieving nothing in the time they were in power but more debt burden.
And make him pay back the 4 mill thats gone into the bill that is wasting everyone's time
National led coalition of chaos cooking the books once again. One term govt!
1/2 term govt. PULL THE PLUG WINNIE!!!!
GDP is a insane way to measure countries. Doesn’t take into account people‘s well-being or the environment. complex systems shut down at one some point as we can see right now, can we just let capitalism die before we do. D growth please
More New Zealanders coming to Australia in 2025 ?.
Bloody oath mate, moving next year I can’t wait 👍 NZ is stuffed
@@johnnyvanderhelm4414Australia is heading down the same path too
Reorder and buy the ferries needed. Re instate the building programs already in progress. Get rid v this disastrous accountant playing at being finance minister. National is ruining NZ. The MPs should take paycuts and cut perks.
And reduce the numbers - 80 MPs would be plenty.
Labour left NZ broke and unable to pay bills, And you think we should have kept borrowing money and digging the hole deeper ?? We aint got BILLIONS to spend on vanity projects.
Fantastic that adults are in charge again to start getting us out of the Labour nightmare
@@Stoneynz Labour were pretty bad, especially with Covid largesse to undeserving corporates - but even so they were infinitely better that the debt champions, Key and English.
Is it too much to ask for basic competence in government? Tax breaks for real estate speculators is not growing the economy - on the contrary, it blows out a deadweight cost - cost of living, and necessitates wage inflation. Even someone as thick as Nicola Willis should know better.
@@stuartmunro2474 Being a Landlord is a business !!!!!!
National INVESTS for a return whereas Labour GIVES money away for votes
@@Stoneynza business subsidised by government in the form of accommodation supplements paid to the tenants who can't afford high rents
The government of cuts !
Labour spent it
National has to replace it
Unless you are a landlord.
@latitudesupplychain2188 cringe lol. 16 billion in unpaid student loans alone.
I’ll take back labour so long as they increase the unemployment benefit and the sickness benefit to a more liveable wage as it once was.
help from the government isn't meant to be a wage.
@@Baratheon. Unless you're a landlord in which case it is a luxury lifestyle funded by the taxpayer.
@@raywheeler3135 Landlords pay taxes on rental income to the government.
Landlords receive $2billion each year in taxpayer handouts and pay no capital gains tax. So any tax landlords do pay is giving taxpayers their money back.
@@raywheeler3135 most landlords have sold up . The Rich are leaving a sinking ship .Bigger countries offer more .
Winston needs to get on his horse and ride on out
Clearly their priorities are the donors coffers!!🤬
lmao this government is so bad
Because they refuse to TAX THE WEALTHY !!
So was the last one.
@@LordOden1 no
Ofc u say no. Special privileged poly @PolytronikDigital
Last government kept nz locked down for too long , was too late opening up, impacting many businesses so not surprised by lower tax take.
What about ACC’s overseas investment. Nicola has no Economic Qualifications whatsoever! Austerity economics doesn’t work!
Investment is what makes money not withdrawing funds all the time. If a business was run that way it goes bust which is what most business are doing which increases cost to government and reduces productivity
This!
We need a capital gains tax and we need a a change in government that will introduce it.
Like he'll. Those that invest for retirement should not pay for those that do not.
Labour would do that, they would introduce CGT and multiple other taxes, do you want that. Do you currently pay income tax yourself, rates etc ?
@stevehughes1510 labour have stated on many occasions they will not introduce capital gains tax. Also if you buy and sell a rental you can be charged tax under the bright line rule. If your sole source of income is buying and selling property they you are charged corporate profit tax now.
@@RoniCarbine You're mistaken roni, chippy(the bloke who doesn't know what a woman is) stated it again at their conference the other week re a CGT, and that's just one other reason why they're dead in the water.
She’s not digging a hole for herself she’s digging it for the taxpayers!🐍
Its funny if you are 'remotely incompetent' or even 'remotely try to alter the books' (or blame the economy lol) as a hands on working employee you would be kicked out in a blink of an eye but when it comes to top upper management/goverment, incompetency and openly lying is encouraged......
Someone need to stand up to this incompetant govt.
700million left...to run a country?! 😱
It's hilariously tragic how New Zealanders vote for the same types of peoples and policies expecting a different result.
1993 EMPLOYMENT CONTRACT ACT HAS DRIVEN WAGES DOWN DOWN DOWN THANKS NATIONAL= CURCIS TRUE as
They will "potentially" be saving money by offloading AT/Auckland Transport away from the Govt books back to the AKL Council.. kinda like blame shifting IMHO.
Nz gonna be the worst countries in a few years 😂 this gov sucks ass.
Its world wide. The rich expect half the planet to be destroyed soon. They are stealing all they can an building bunkers away from the ocean and rivers.....
Is Ms Willis the person for the job? She’s doing a lot ah’s & umms with a little back peddling & not at all confident. It seems she’s not on the right track because adding more huge debt to our current huge debt is what she said she couldn’t do. You’ve had a year, its not going well, hand it over & move on!
She learned nothing during the first year. Let's cut more jobs it reads. Sure, apparently the first attempt went extremely successful, and raised tax revenue and business confidence big time.
Fontera made a billion post tax profit last year. We are paying more for everything, so where is the money going. It isn't to nurses or teachers (increases in these wages mainly go straight back to the government in taxes).
$10B+ has left the country in power company dividends since Key sold 49% of our power companies. Has electricity got any cheaper... hell no, privatisation costs the public.
@diyguru9677 you are spot on about the true effect of privatisation. The US and UK have numerous examples that show the same result.
Robbing Peter to pay Paul...
So easy for National to just blame labour for everything, only to now say ‘we got a tough job’ and do worse.
How about not giving 100M to ukraine for war
Because they’re not the kind of books English lit graduates read why tf would make one finance minister. 😂
It will take at least two terms to repair the damage from Labour's spending. Good to have a government that focuses on reality.
So is the State’s conscience. Not the Govt, the people that apparently “run” the country.
Just unbelievable. We need an elect button.
It's a juggling act for these guys and girls after the last lot of Labour numpties and their covid, ferry debacle and other blowouts, who'd want to be doing this right now, it's a hard road.
Let’s join the BRICS nations! Do you think our masters will let us? Lmao 😂 we’re so screwed!
Increase productivity, export more, capital gains tax, departure tax, reduce spending.
So why is the New Zealand dollar going down relative to the American. Can we fix this?
The world is a mess the governments of each country are in shambles this will not end
Who created unemployment government did national government 1961 IMF loan
Unemployed bureaucrats cost less than employed ones.
@@marcusmelville4111 Not by much. And then they are rehired through external emplyment agencies to do the job they were doing before at a higher cost to the tax payer. I know this for a fact from first hand experience over the last 12 months.
@raywheeler3135 Every single one?
I know of two so far Marcus. It wouldn't surprise me if this is more widespread than the public actually realize.
@raywheeler3135 Still preferable as when they're no longer needed for whatever overflow they can just not have contracts renewed, rather than having a bunch of people being paid to sit around on taxpayer cash.
IT WAS YOUR PARTY THAT PUT US INTO THIS POSITION CHRIS HIPKINS!!!
16 billion in unpaid student loans alone.
I don’t think you are capable of doing the job,.
You need a build economy. A growth economy. There's very little incentive to start business here, besides to price gouge 5 million people (a small pond)
Maby new zealand needs anther “mother of all budgets”
Is it agreed that we need to get the books into the black?
It must be agreed we were in the Red to start with!!
what a shame we sent money to Ukraine. We could've done with it ourselves for so many reasons! Shortfalls all over the place.
Wheres all the money going from our industry
Theres your answer
Don't gas light us with stories that dont ring true
So full of it Winston 😅😅
Defund the PRESS !
It's all completely unnecessary. A big storm is coming and they're choosing to not maintain the country.
They should separate north and south islands into two countries so that we don't have to fix the ferries.
I will not take the ferries because I'm too scared to go on them.
Bring the arahua back from India.
Nz is about 5 million working people short of being more successful financially.
We need to drill baby drill and get some mining going...
Cut red tape and promote farming...cut all the work crap
Won't be worth it in the long run. Most of that money will end up overseas.
Nobody is interested in buying resources from a nation that's too far away that has virtually no manufacturing capacity. Maybe farming. But oil isn't going to do anything for NZ
Digging a big hole? It was labour that put us in debt in the first place. Funny how Chris Hipkins forget that before making stupid remarks.
Both parties are terrible!
Lucky National doesn't have to deal with a pandemic.
@kentaylor2416 They are dealing with it, the debt labour incurred. Every country that decided not to do major lock downs like Sweden is doing much better than everyone else.
Well what did everyone expect? After that huge splurge on drug dealers, criminals and other low-life.
Is that where the fourteen billion in tax cuts went?
U shouldnt beleive anything they say, they will say whatever it takes to carry out thier own agenda,
Lmfao didnt see that coming, yeah right
Nobody knows how to budget in this country. Always depending on the government.
Try blackrock
Thankyou Nationals Nicola! Ka pai ...We can all heal now and move on...Yeah right! 🤣 NZ $100 billion debt for 5 million population // OZ $25 billion debt for 25 million population that is why we kicked Labour, Greens to the gutter! Wadda ya reckon? Australia you can do better get rid of Labour 💯 Haere ra and Merry Xmas 💯
So Cindy and labour spending billions during covid doesn’t make up for any of the deficit, ok.. 🙄
Quickly forgotten by everyone , still I don't know why they refuse to bring in a Capital Gains Tax .
But that makes sense
Oh course it does..At least they had a substantial reason for spending.
I don't recall Labour borrowing for tax cuts but I do remember them borrowing to keep business' open and actually delivering growth during Covid unlike most other OECD countries. Look at NZ's debt to GDP when cLuxon took over compared to this stagnant swamp we've been delivered by this coalition of self interested crocodiles.
Billions is nothing. US government spent trillions and lifted their economy out of the pandemic. We're cutting our way down.
Spent into our economy.
The money is only lost if it's spent overseas.
JUST OPEN KIWI SAVER ACCESS LOL LET US GET WHAT BELONGS TO US.
Try 2112
Labour put us into this situation that's why they we voted out don't think people that voted for this government to turn things around for years. Labour was like a reckless student with a credit card.
With mum and dad paying for it
Reckles was the 14.7 billion in tax cuts and the 2.9 billion for landlords .
Both unnecessary and that is all on them .NOT LABOUR .
Nicky no boats the ferries have turned into a total farce due to these idiots. .
So what should they have done?
If we were in such a bad situation, why did this government think it was in a strong enough position for tax cuts?
@suehowie152 kept people working during Covid instead of turning the place into Zombieland
Oh dont, you just love smarmy Chippie throwing shade when it was him and his lot that spiralled us down here in the first place 😒
17.6 billion in tax cuts including the landlord tax cut.
That were not necessary and created this huge hole of no money in tbe coffers now borrowing more than Labour who had to deal with COVID .
Not going to get tax revenue when you are laying people off .
They are a disaster .
BS.
You sure about that, the numbers seem to dispute that.
It's this government that's taken us into recession.
Thanks Labour
National's in power and has been for over a year now, I don't think it's Labour genius.
@@justinpagelawrie Its labours wasteful spending for 9 yrs . Always the same . the Lefties blows out , the right balances the books .
Takes more than a few months to f it up . Labours spending broke not only records but businesses.
No...This is on this incompetent government.
It's all National. If we were short on cash like National campaigned on, why did Nicola empty the coffers? It just doesn't add up.
Print an assload of money and give everyone a million dollars - that will stimulate the economy :)
A fairer way would be a Capital Gains Tax or even a Foreign Investers Tax .
It's lose , lose for a small country that has to kiss arse
They don't appear interested in stimulating the economy.
This is all Labour's doing, let's not be fooled by poor journalism.
😂😂😂😂
Stop coping
The national party had "rock solid" numbers during the election campaign. They were told by a number of economist that they were wrong............ now the only excuse is blame Labour............ Yeah right
NATZOS borrowed more than Labour and Cindy was facing a pandemic
Nicola Willis is a liar… she puffed her ego before getting into power - saying it will be a surplus and that the ferries needed to be cancelled, and now she makes these subsequent announcements… what a joke! And after cancelling so many infrastructure projects (rail, ferries), government jobs, and social safety nets.
She needs to accept responsibility not blame the other government. The people aren’t buying this…
How come Grant & Jacinda are allowed to just walk away from this mess with cushy jobs - something we don't hear enough of is how politicians can be held to account. Voting people out simply doesn't cut the mustard when you consider the long term damage a handful of inept/lying politicians can do to a country; this is going to take at least 5-10 years to fix & where are they now? Enjoying 6/7 figure salaries with ZERO accountability. They should be in jail!
They didn't ruin the economy? NZ was a top performer during the pandemic. Lauded by Nobel prize winning economists and followed by large economies like the US. That's why I have most of my investments there, because the Biden administration deficit spent their way to massive profits. Now NZ is a bottom performer, desperate for low wage workers from overseas. Losing skilled workers, because the government refuses to spend any money on projects that actually help businesses.
Cut handouts to Māori
And those profiting from the biggest handouts in NZ, perpetual leases
Cut handouts to Pakeha landlords like Luxon.
@@raywheeler3135 Landlords are running a BUSINESS
@@deanlesliehawea506sad state of affairs, Māori getting a raw deal $1 lease per annum rail lands and 6% rateable land value on crown held central and local govt Māori lands. Māori land both public and privately held 100yr pepper corn lease with right to renew or on-sell is pathetic. Being promised infrastructure and services to be built on Māori land given to the Anglican church for specific purposes for the land to be sold off for profit with none services ever materialising and no financial benefit to Māori. As tangata tiriti what can I say, toitū te tiriti. Learn our countries history starting from 1806 Te Awaroa Native reserve Bank ask questions and seek truth🖤♥️
@@Stoneynz Landlording is the only "business" that receives $2 billion each year in tax payer handouts and pays no tax on the only true source of profit (i.e. capital gain). So no they aren't a BUSINESS.
We have been living above our means during covid with Labour, now we are paying the price! Good luck!!
It's important to read my other comment on why that has occurred. It's through the lack of spending during the key/English tenure.
Define "above our means". Because that term has been used for decades and now we are in the middle of a infrastructure deficit, housing crisis and declining wages and productivity. All of which has been caused by underinvestment in infrastructure, overseen by mostly National led governments and their obsession with tax cuts.
Labour's spending was an attempt at catching up with that deficit, so what do you mean by your statement given the lacking state of NZ.
Not really. NZ's debt is below most OECD nations. UK and US would love our level of debt. And they'd immediately double it day one if they had our debt. Still is. Difference now is, were losing money and spending it on nothing.
That’s Labour, spend and hope, nothing changes.
Tax cuts and wondering where the government revenue went.
Thought Māori economy booming how much they had handed out since and during Covid
Robinson in election year: "Now is the time to spend BIG." Labour: tax tax tax, borrow billions, then pour the money down the toilet with no improvement anywhere except to increase the numbers of beneficiaries and gang members.
And then National gives away fourteen billion to people who've already got plenty of money.
@@kentaylor2416 Rental rents rarely cover the rates, insurance, damage, mortgage or risk. Petty landlords pay for rental houses out of their pockets, hoping that in time the value of the rental will increase with inflation. Mortgage interest has always been a reasonable expence against tax.
This is similar to hangover. Gross incompetence and excessive spending over the Labour years have consequences.
Yes that fourteen billion dollars Labour dished out in tax cuts wasn't such a bright idea
No thanks to Labour / Maori actions!
Labour stuffed this country and little man comes on 2 bag Nats. 😢
Labour didn't give away fourteen billion dollars to the wealthy and then cry because there's no money left.
we need elon musk to clean up our government too,
Might as well swallow some kiwi pride and ask to become another state of Australia before youse completely 'sunk' just like your $100mil navy 'shup' did just recently 😂
do people still watch this garbage ?,get better news talking to my cat
Nz own Naiz party. Yeah i said it
it will take years to recover from labors spending.