2011 Budget

[puddytat]

What we need is a Resolution

What we need is insurrection.

And a Inquisition....

[mashman]

And a Inquisition....

I'd settle for an amnesty

[reggie1198]

Dear John Key and Bill English,

Please find below our suggestion for fixing New Zealand's economy…..

Instead of giving billions of dollars to the Banks, Iwi's and others to be squandered on unearned bonuses and extravagant oveseas trips, use the following plan.

You can call it the Patriotic Retirement Plan:

There are about 1 million people over 50 in the work force.
Pay them $1 million each severance for early retirement with the following stipulations:

1) They MUST retire. One million job openings = unemployment fixed ....
2) They MUST buy a new car. One million cars ordered = motor industry fixed.
3) They MUST either buy a house or pay off their mortgage and the banks must use the money for cheap new loans for new home buyers = housing supply and affordability fixed.
4) They MUST buy at least $100 of alcohol a week = your money back in duty/tax etc.
5) The MUST buy some shares in the strategic NZ companies you propose flogging off, and hold them for at least 10 years = US owning OUR remaining assets and more money kept in NZ instead of sent overseas. Note that of our biggest 20 companies in 1988 ALL are now owned overseas or controlled or owned by Graeme Hart, except for Fisher & Paykel; and from just Telecom and the BNZ alone (and not even including the other 17 companies) $16 billion of dividends has gone to their overseas owners.
6) They MUST pay for their grandchildren to go to University = no further need for student loans and more doctors and nurses.
7) Instead of stuffing around with the carbon emissions trading scheme that makes us pay for the major polluters, tell the greedy bastards to reduce their pollution emissions by 75% within 5 years or they'll be shut down = more jobs for inventive NZ manufacturers providing polution solutions and more tourists to a really cleaner, greener NZ.
8) If you need more money, have all MP's pay back their falsely claimed expenses and second home allowances.

And while we are at it, lets address the needs of the Elderly and Criminals

Let's put the pensioners in jail and the criminals in a nursing home.

This way the pensioners would have access to showers, hobbies and walks.
They'd receive unlimited free prescriptions, dental and medical treatment, wheel chairs etc and they'd receive money instead of paying it out.
They would have constant video monitoring, so they could be helped instantly, if they fell, or needed assistance.
Bedding would be washed twice a week, and all clothing would be ironed and returned to them.
They would be checked every 20 minutes and be provided with all meals and snacks.
They would have family visits in a suite built for that purpose.
They would have access to a library, weight room, spiritual counselling, pool and education courses.
Simple clothing, shoes, slippers, PJ's and legal aid would be free, on request.
Private, secure rooms for all, with an exercise outdoor yard, with gardens.
Each pensioner could have a computer, tv, radio and daily phone calls.
There would be a board of directors to hear complaints, and the caregivers would have a code of conduct that would be strictly adhered to.

The criminals would get cold food, be left all alone and unsupervised, with lights off at 8pm and showers once a week.

While living in a tiny room and paying $800.00 per week with no hope of ever getting out.

Sounds great on paper, but only one problem I can see, where will N.Z get the one trillion dollars needed for this scheme to begin with......

[reggie1198]

Dear John Key and Bill English,

Please find below our suggestion for fixing New Zealand's economy…..

Instead of giving billions of dollars to the Banks, Iwi's and others to be squandered on unearned bonuses and extravagant oveseas trips, use the following plan.

You can call it the Patriotic Retirement Plan:

There are about 1 million people over 50 in the work force.
Pay them $1 million each severance for early retirement with the following stipulations:

1) They MUST retire. One million job openings = unemployment fixed ....
2) They MUST buy a new car. One million cars ordered = motor industry fixed.
3) They MUST either buy a house or pay off their mortgage and the banks must use the money for cheap new loans for new home buyers = housing supply and affordability fixed.
4) They MUST buy at least $100 of alcohol a week = your money back in duty/tax etc.
5) The MUST buy some shares in the strategic NZ companies you propose flogging off, and hold them for at least 10 years = US owning OUR remaining assets and more money kept in NZ instead of sent overseas. Note that of our biggest 20 companies in 1988 ALL are now owned overseas or controlled or owned by Graeme Hart, except for Fisher & Paykel; and from just Telecom and the BNZ alone (and not even including the other 17 companies) $16 billion of dividends has gone to their overseas owners.
6) They MUST pay for their grandchildren to go to University = no further need for student loans and more doctors and nurses.
7) Instead of stuffing around with the carbon emissions trading scheme that makes us pay for the major polluters, tell the greedy bastards to reduce their pollution emissions by 75% within 5 years or they'll be shut down = more jobs for inventive NZ manufacturers providing polution solutions and more tourists to a really cleaner, greener NZ.
8) If you need more money, have all MP's pay back their falsely claimed expenses and second home allowances.

Sounds great on paper, but only one problem I can see, where will N.Z get the one trillion dollars needed for this scheme to begin with......

[jaffaonajappa]

Sounds great on paper, but only one problem I can see, where will N.Z get the one trillion dollars needed for this scheme to begin with......

Tax the hell out of Petrol.

[Mully]

And a Inquisition....

I wasn't expecting that.

[superman]

I'm glad to hear rumours of them finally sorting the student allowance.

All these students who have parents with less that $60,000 TAXABLE income per year get an allowance with their student loan. Anywhere from $60 to $200 per week that doesn't have to be paid back. But the catch is you can't earn over a certain amount per week to get it, so they get to be lazy and I get to work 20 hours a week to try and get the same amount they get from the government.

Of course anyone who owns a business doesn't earn over $60,000 taxed due to lovely write-offs so all sorts get it when it should just be there for those who come from poor backgrounds that wish to study.

Hopefully they make some good changes to that.

[sil3nt]

I was never able to get a student allowance when i first studied. I lived at home so it wasn't a big issue. Went back to study when i was 24 as i was eligible for the allowance as what your parents earn is not taken into account.

I get $230 and can earn $200 on top of that (before tax) before they start taking money off my allowance.

I end up with about the same amount as i did working fulltime minimum wage.

[shrub]

As expected Our Masters will sell stakes in Genesis Energy, Meridian, Mighty River Power and olid Energy.

Really, really, REALLY stupid and shortsighted to sell of shares in profitable and strategically important businesses that will increase in value significantly over the next few years. I never had a lot of confidence in English as a finance minister, but WTF? Does the guy have no understanding of commerce and business? How about reversing the tax cuts that it turns out we couldn't afford? Personally I would lose a bit if that happened, but I'm more interested in the future financial viability of NZ than whether I have an extra few bucks today.

[superman]

What I've seen so far seems quite sensible, I will have a more thorough look through the proposals later this evening.

[shrub]

What I've seen so far seems quite sensible, I will have a more thorough look through the proposals later this evening.

I agree with the changes to the student loan and working for families, but what is sensible about selling profitable and strategically valuable assets? My problem is I look at things from a business angle, and it just does not make good business sense to do that. As for the changes to Kiwisaver - when will they stop tinkering? Drop the contribution rates, then increase them and cut the Govt contribution. Kiwisaver was one of the best things Cullen did and it's probably the only strategy I have seen from either government that has the slightest chance of helping us catch the Aussies.

What people forget is that one of the reasons Australia is so rich compared to us is because they save money in the Australian Superannuation scheme - in fact $1.28 trillion. Australians now have more money invested in managed funds per capita than any other economy. A big chunk of that $1.28 trillion is invested in NZ which is why whenever we buy groceries, do our banking etc a chunk of our hard earned buggers off to Aussie. And another big chunk of that money is invested in Australia which means an Aussie business has access to capital to grow, develop and make more money etc.

If the idiots in Wellington do anything to Kiwisaver it should be to increase contribution rates by all three parties. They can then issue bonds that can be purchased by mum and dad investors via the Kiwisaver fund managers which means they're borrowing money from us and we keep our assets.

[Indiana_Jones]

"Budget gives $1.6b to infrastructure over four years"

Cha-ching lol

-Indy

[aprilia_RS250]

If the idiots in Wellington do anything to Kiwisaver it should be to increase contribution rates by all three parties. They can then issue bonds that can be purchased by mum and dad investors via the Kiwisaver fund managers which means they're borrowing money from us and we keep our assets.

I don't think you did your math there...

Current scheme everyone pretty much contributes 2% as that's the maximum matching rate by employers, so say you're earning 60k you get $1047 MTC, 2% * 60k =1.2k as employer contributions and also another 1.2k from your wages. Total you have put in for that year = 3447.

Under new scheme everyone will contribute 3% as the employer will match that. So for 60k you get 521 MTC, and 2*0.03*60k= 3600. Total 4121.


Therefore total contributions will be going up.

[Mully]

As expected Our Masters will sell stakes in Genesis Energy, Meridian, Mighty River Power and olid Energy.

And I hope private investors get first whack - I'm all over that.

For my own gain - I'm not a fan of selling profitable companies for short-term gain. Unless I can buy a share.... Fucking, hello!!!

I don't think you did your math there...

Therefore total contributions will be going up.

You shut up - how dare you interupt a KB rant. What's the world coming to, etc [/sarcasm]

[Ocean1]

Of course anyone who owns a business doesn't earn over $60,000 taxed due to lovely write-offs

I own a business, but I'm obviously doing it wrong. Care to explain how that write-off shit works?