If National wins ...

[elZorro]

Remember this guy EZ?

Pictured telling some good story - did it work out as planned?

David Caygill, still working on the job by the sound of it.

Minister of Finance[edit]

When Douglas was fired by Prime Minister Lange, Caygill was appointed Minister of Finance in his place. After Lange himself had resigned, Caygill retained his position under both Geoffrey Palmer and Mike Moore, Lange's short-lived successors as Prime Minister.
In his last budget as Minister of Finance before retiring, Caygill lifted the quarantining of rental losses on investment property, allowing an investor to offset losses on their investment property against their other taxable income.
In 1991, a year after the Labour Party had lost office, Caygill was replaced as finance spokesperson by Michael Cullen, who was more moderate in his economic policies. Caygill continued to hold a senior position in the Labour Party, however, and when Helen Clark became leader in 1993, Caygill replaced her as deputy leader. At the 1996 elections, Caygill retired from Parliament. He was replaced as deputy leader by Michael Cullen.
Life after politics[edit]

After leaving politics, Caygill returned to his original occupation, law. For some time, he was a partner at Buddle Findlay, a prominent law firm. He also worked for a number of government bodies, and was chair of the Accident Compensation Corporation. He chaired a ministerial inquiry into the New Zealand electricity market in 2000, and was appointed chairman of the Electricity Commission in 2007. He is a board member of the Energy Efficiency and Conservation Authority. He is the chair of the Education New Zealand Trust.^[4]
In 2010, Caygill was appointed by the National Government as one of the commissioners at Environment Canterbury. He holds the role of deputy chair.^[4] Caygill was appointed, in December 2010, as the Chair of the 2011 NZ ETS Review Panel.^[4]

Just a couple of the more recent Caygill actions I didn't know about. He's fairly determined to let the market take control isn't he?

Forget about income per person, the Crown has been on a spending spree since 2009, borrowing against every NZer. The rate slowed in recent years, but accelerated again in the 2015 year. Now every person in NZ has a gross crown debt of around $25,000, a figure that was stable at $10,000 and lowering under Labour. According to this chart, Crown gross debt is now well over $100billion.

https://figure.nz/chart/v8SueeHsw4czJ9zc

[elZorro]

The government making a show over consultation on the RCEP. Even Fran O'Sullivan is not impressed.

http://www.nzherald.co.nz/business/n...y+16+June+2016

[winner69]

@DawgBelly: This govt compensated a Saudi resident $11 million for his hurt feelings, Teina Pora gets $2.5million for 21 years wrongful imprisonment.

Just a tweet i thought interesting

[fungus pudding]

Comment on CGT.

Especially for you eZ. As I have often pointed out a poorly designed CGT tax can be detrimental - particularly its effect of drying up, or slowing a market.
I've never been against a well designed scheme, but we'll never get one. It would be political suicide.
Anyway there's some comments in this article are worth a bit of consideration.

http://www.nbr.co.nz/opinion/why-cap...sing-bubble-gs

[elZorro]

Comment on CGT.

Especially for you eZ. As I have often pointed out a poorly designed CGT tax can be detrimental - particularly its effect of drying up, or slowing a market.
I've never been against a well designed scheme, but we'll never get one. It would be political suicide.
Anyway there's some comments in this article are worth a bit of consideration.

http://www.nbr.co.nz/opinion/why-cap...sing-bubble-gs

Not a balanced article, as he's trying to push a CCIT idea from the Morgan Foundation. In one example there, a person has $1mill already, and is faced with putting it in the bank and using the taxed interest to pay rent, or buying a house to live in, outright. The argument is that it's tax efficient to buy the house, and it's an unfair advantage. Therefore every capital situation should be taxed.

However, very few people have the $mill to buy a house in Auckland, and will instead struggle to pay it off, including paying interest from their tax-paid income. Unlike those property investors who get to claim the interest costs against their rental/lease income. It's not a level playing field now, and applying a capital tax across the board will make it even more unfair. That's why other countries don't do it either, but they do have a CGT along the lines of what Labour proposed in 2014.

[fungus pudding]

Not a balanced article, as he's trying to push a CCIT idea from the Morgan Foundation. In one example there, a person has $1mill already, and is faced with putting it in the bank and using the taxed interest to pay rent, or buying a house to live in, outright. The argument is that it's tax efficient to buy the house, and it's an unfair advantage. Therefore every capital situation should be taxed.

However, very few people have the $mill to buy a house in Auckland, and will instead struggle to pay it off, including paying interest from their tax-paid income. Unlike those property investors who get to claim the interest costs against their rental/lease income. It's not a level playing field now, and applying a capital tax across the board will make it even more unfair. That's why other countries don't do it either, but they do have a CGT along the lines of what Labour proposed in 2014.

Of course it's opinionm but follow some of the urls in the article referring to studies. e.g. http://ec.europa.eu/economy_finance/...ction_2_en.pdf

And a few of the others.

The whole point is that CGT is not an open and shut case of just implementing a tax and seeing no negative consequences, wnich is why I hold the view that it needs to be well thought through, comprehensive and with a repatriation clause.

[winner69]

Labour officially launch their campaign in Australia today. Big speech from Shorten a well as rolling out a few of mentors in old timers like Fraser and Keating.

For me it just confirmed that neither Shorten or Little just don't have what takes to be a Prime Minister

Might give Labour some hope if a miracle happened and a Labour PM happened in Australia

[Daytr]

Good to see John Key defending Paula Bennett.
Apparently that stuff up after stuff up and some might even suggest bordering on illegal in the case of the leak from her office, its all a media beat up!
5 times Bennett has been asked to appear on the Nation since the homeless story broke and she hasn't been able to attend once apparently.
She showed her true colors in the Northland bi-election and was probably the most damaging to their campaign behind Mike Sabin.
Bennett is a liability, yet Key defends her.
The man's judgment yet again is flawed.

[elZorro]

The latest Roy Morgan Poll shows that National's support is dropping, while the Labour-Green coalition concept is gaining votes. L-G are now within 0.5% of National, meaning NZ First has the balance of power.

http://www.roymorgan.com/findings/68...6-201606201622

It'll be even more interesting when the Labour-Greens overtake National in the polls, surely can't be long now, hey FP?

[Sgt Pepper]

John Key in January 2015

"Up to 143 New Zealand personnel will be sent, although the deployment will not be a badged mission. It will be reviewed after nine months and last no more than two years"

John Key20/06/2016

New Zealand will extend its deployment in Iraq for another 18 months and expand to a second military base, Prime Minister John Key has confirmed this afternoon

The perfidiousness of John Key is astonishing. It was like this right from the start, GST, his Tranz Rail shares transactions, by way of two examples, many others and no doubt more to come.

He makes Pinocchio look like an upfront guy who always tells the truth