Labours Fiscal Hole is shaping up to be $940 million every week

[Logen Ninefingers]

Labour have put New Zealand into one enormous fiscal hole with it's reckless spending and endless parade of freebies. As Chipkins zooms around the country promising more and more 'free' stuff at every stop, the hole continues to get bigger.

Meanwhile economists think they've found a $540 million annual (not weekly) hole in National's tax plan. RNZ journalists demand to know if this will result in 'more borrowing'. Nicola Willis says she stands by her modelling. The Left go away to find more economists so their attack can continue.

But if Labour wants to borrow more (i.e. 'more borrowing') for 'free' dental care, that's all good cos 'fully costed'.

https://www.nzherald.co.nz/business/how-much-nz-needs-to-borrow-next-year-crunching-the-numbers-for-2024/7ZE27JSOPZABRF2DSRDUFHDI44/

By Jamie Gray
13 Sep, 2023 05:00 PM

'The New Zealand’s borrowing requirement for the fiscal 2024 year will equate to $940 million a week, BNZ economists estimate.'

[nztx]

Labour have put New Zealand into one enormous fiscal hole with it's reckless spending and endless parade of freebies. As Chipkins zooms around the country promising more and more 'free' stuff at every stop, the hole continues to get bigger.

Meanwhile economists think they've found a $540 million annual (not weekly) hole in National's tax plan. RNZ journalists demand to know if this will result in 'more borrowing'. Nicola Willis says she stands by her modelling. The Left go away to find more economists so their attack can continue.

But if Labour wants to borrow more (i.e. 'more borrowing') for 'free' dental care, that's all good cos 'fully costed'.

https://www.nzherald.co.nz/business/how-much-nz-needs-to-borrow-next-year-crunching-the-numbers-for-2024/7ZE27JSOPZABRF2DSRDUFHDI44/

By Jamie Gray
13 Sep, 2023 05:00 PM

'The New Zealand’s borrowing requirement for the fiscal 2024 year will equate to $940 million a week, BNZ economists estimate.'


Good grief - $940m a week - almost a billion a week !

What a Huge ****** shambles Labour will be leaving behind ;)

Of course this will continue compounding with rising interest servicing until it can be brought under control
and reversed.

[Logen Ninefingers]

Good grief - $940m a week - almost a billion a week !

What a Huge ****** shambles Labour will be leaving behind ;)

Of course this will continue compounding with rising interest servicing until it can be brought under control
and reversed.

Yes, it’s a total cluster duck. Yet the mainstream media report ‘we’ll be in surplus in 2027!’
We were supposed to be in surplus in 2025, the it got pushed back a year in Mays budget, now it has been pushed back a further year in the PREFU. Robertson just fudges the numbers, there is no hope of getting back to surplus this decade….all Labours freebies are already baked in.

[Panda-NZ-]

What about the mess Luxon left Air NZ in.

Part of NZ's borrowing will be based on that taxpayer support.

[Logen Ninefingers]

What about the mess Luxon left Air NZ in.

Part of NZ's borrowing will be based on that taxpayer support.

Here comes the erstwhile NZ First supporter with the standard routine of attacking National and defending Labour.

How much is it costing NZ to support Air New Zealand?

[Panda-NZ-]

Here comes the erstwhile NZ First supporter with the standard routine of attacking National and defending Labour.

Makes sense eh If I want the nats dependent on NZF.

[Panda-NZ-]

How much is it costing NZ to support Air New Zealand?

Many hundreds of millions to bail them out (plus interest costs). Luxon was at the time the highest paid executive of a listed company & shareholders seem to have recieved poor outcomes for their contribution.

[Logen Ninefingers]

Many hundreds of millions to bail them out (plus interest costs). Luxon was at the time the highest paid executive of a listed company & shareholders seem to have recieved poor outcomes.

Lots of editing going on in your posts….you getting a bit frantic?

Lots of editing, and lots of deflecting. When confronted with the scale of Labours borrowings you deflect to something truly pitiful about ‘Air New Zealand and Luxon’. It is Robertson who is responsible for the huge borrowings and borrowing costs that we are facing, Robertson and Robertson alone. Certainly nothing to do with Air New Zealand.

[Panda-NZ-]

Lots of editing going on in your posts….you getting a bit frantic?

Lots of editing, and lots of deflecting. When confronted with the scale of Labours borrowings you deflect to something truly pitiful about ‘Air New Zealand and Luxon’. It is Robertson who is responsible for the huge borrowings and borrowing costs that we are facing, Robertson and Robertson alone. Certainly nothing to do with Air New Zealand.

Such as deflecting from National's tax costings with this topic.

Hmm should I create a new topic to discuss the modelling issues raised by professional economists rather than random people on sharetrader.

[Logen Ninefingers]

https://www.nzherald.co.nz/business/dr-bryce-wilkinson-the-prefu-forecasts-are-not-realistic/I3DCWBHHUVDIDGVMTWTHWZTCTU/


THE PREFU FORECASTS ARE NOT REALISTIC
Dr Bryce Wilkinson NZ Herald
14 September, 2023

'Tuesday’s Treasury’s pre-election forecasts confirmed that Government spending exceeds revenue by more than what was forecast in the May 2023 Budget.

Far too many commentators are concluding the increase is not too bad.

Do not be fooled. The forecasts are not realistic. They are too optimistic.'

[777]

What about the mess Luxon left Air NZ in.

Part of NZ's borrowing will be based on that taxpayer support.

What mess? Do you just dream up these statements? Luxon left before the covid pandemic and Foran started pretty much around the that time.

You really don't have much to offer.

[Panda-NZ-]

The one where he increased debt levels to the max before the pandemic hit.

Borrowing money at 5%+, to pay a dividend.

[Panda-NZ-]

Nonetheless National will get in despite what happens from here.

The 20 bucks stapled to the pledge card was a masterstroke.

[Logen Ninefingers]

The one where he increased debt levels to the max before the pandemic hit.

Borrowing money at 5%+, to pay a dividend.

‘Borrowing money to pay a dividend’ is literally your economic plan for New Zealand.

[Logen Ninefingers]

Nonetheless National will get in despite what happens from here.

The 20 bucks stapled to the pledge card was a masterstroke.

Never happened. Repeating lies ad nauseam does not make them true.

[Panda-NZ-]

‘Borrowing money to pay a dividend’ is literally your economic plan for New Zealand.

Nah my plan is self-funding as I stated previously.


Never happened. Repeating lies ad nauseam does not make them true.

So National didn't offer voters cash $$ in tax cuts, which saw their polls up as much as 40 from 34 only a week later.

[Logen Ninefingers]

Nah my plan is self-funding as I stated previously.



So national didn't offer voters cash $$ in tax cuts, which saw their polls up as much as 40 from 34 only a week later.

It’s not $20, and you know it. You are repeating the talking points of your Labour / CTU masters. Repetition of ‘fake news’ talking points is a common propaganda technique.

[Panda-NZ-]

I'm using the National party tax calculator for my figures (unless they got their modelling wrong there too)

Median earner gets $25 /week based on a $66k salary.

https://www.nationaltaxcalculator.com/2023?gclid=CjwKCAjw3oqoBhAjEiwA_UaLtg8f-miEQe9krR61ZbuObsj74JxbFX0b2biP4Kkc0stduvlq7SjaQxo ClW0QAvD_BwE

Superannuitants only get 7 bucks a week.

[Logen Ninefingers]

I'm using the National party tax calculator for my figures (unless they got their modelling wrong there too)

Median earner gets $25 /week based on a $66k salary.

https://www.nationaltaxcalculator.com/2023?gclid=CjwKCAjw3oqoBhAjEiwA_UaLtg8f-miEQe9krR61ZbuObsj74JxbFX0b2biP4Kkc0stduvlq7SjaQxo ClW0QAvD_BwE

Superannuitants only get 7 bucks a week.

Well I worked on out on a family with 2 earners on average incomes, with 2 kids, and got ‘Total fortnightly saving under National: $212.27’

It’s not really aimed at you or millionaire superannuitants who get ‘winter energy payments’, it’s aimed at battling working families in the so-called ‘stretched middle’. You know, people getting hammered by rising mortgage interest rates, rising food prices, rising petrol prices, rising council rates, rising insurance bills, rising childcare costs, rising power prices.

[Panda-NZ-]

Yes I concede that you have to pop out a few kids to get anything worthwhile.

[Logen Ninefingers]

Yes I concede that you have to pop out a few kids to get anything worthwhile.

It’s what human beings do though isn’t it? Renewal of the species, and all that.
Not much point being a misanthrope about what most people see as the source of great joy in their lives: a family, children.

[blackcap]

Yes I concede that you have to pop out a few kids to get anything worthwhile.

That's exactly what this country needs. We cannot rely on importing people ad nauseum. I really think they should look at tax breaks for woman who have over x amount of kids. Sort of like the policy in Hungary (or at least they were mooting it)

[Logen Ninefingers]

‘The Herald has an article that looks at what net debt has been projected to be in 2027 under each forecast since 2021 (so post Covid).

Dec 21 – $138b
May 22 – $147b
Dec 22 – $156b
May 23 – $181b
Sep 23 – $193b

So in less than two years, the debt forecast for the next four years has increased by a massive $55 billion.’

https://www.nzherald.co.nz/nz/politics/election-2023-nicola-willis-accuses-labour-of-consistently-breaking-spending-promises-and-she-has-the-receipts/HSYWWSN6HFHJPGGQDNZ6J353HM/

[nztx]

‘The Herald has an article that looks at what net debt has been projected to be in 2027 under each forecast since 2021 (so post Covid).

Dec 21 – $138b
May 22 – $147b
Dec 22 – $156b
May 23 – $181b
Sep 23 – $193b

So in less than two years, the debt forecast for the next four years has increased by a massive $55 billion.’

https://www.nzherald.co.nz/nz/politics/election-2023-nicola-willis-accuses-labour-of-consistently-breaking-spending-promises-and-she-has-the-receipts/HSYWWSN6HFHJPGGQDNZ6J353HM/


take the figues back another 2 years to 2019 and see what we have ..

Proof that once again Labour have managed to shove our economy down the dunny ;)


Ardern will have been wide awake to what Robbo had orchestrated before she jumped ..