WE AGREE!!! OMG!!!
Politics 🗳️ NZ Politics
- Thread starter wizard of Tauranga
- Start date
NZWarriors.com
Shit... twice in one week.... a new record!!!!WE AGREE!!! OMG!!!
I know off at least three companies that went from installing insulation (while governments were offering grants for it), to "p" inspection and decontamination companies to companies doing Healthy Homes Reports... and now that those gravy trains have run their course, they're liquidated the companies owning tens of thousands to the IRD, banks and other creditors.
NZWarriors.com
Yes they do, and the post I responded to was of your criticism of the Green Party and their view of borrowing. Is your view also of the money borrowed to provide the tax cuts that the current government did poor also?
There’s a current story of a family renting that the landlord didn’t let them know, or it at least wasn’t known to them, and they’ve garbaged all their furniture because of claimed contamination
Not only that but it was used to target low socioeconomic families and collectively punish them.WE AGREE!!! OMG!!!
NZWarriors.com
Personally, I like the idea of keeping the income tax thresholds "progressive" and altering them to suit inflation. But, I think it also should happen in conjunction with something like an inheritance tax and gift duty to help reduce the amount of money being intergenerationally transferred so it's a "tax neutral" situation.... i.e. it costs the government say $2B PA in income tax cuts but they make that up by getting $2B in IT and GD. So, no, I don't like this government's approach of borrowing to fund tax cuts (even though I think the tax cuts were good).
The current government went too far with reducing the Brightline Test from ten years down to two years.... five years would have been better in my eyes.
Even David Packer admitted he took the interest mortgage deductibility too far and that he should have still allowed landlords to deduct 50% of the interest because of the way inflation effects it.
Who were they good for though? It seems odd to criticise one party’s idea of borrowing and spending in consideration to debt levels without mentioning how this also deserves criticism for being added to our debt levels and didn’t move the dial whatsoever for those most in need in a cost of living crisis
NZWarriors.com
- Thread starter
- #16,890
Should the govt stimulate the industry and how?
They’ve done it for farming and dairy many times in the past
- Thread starter
- #16,892
Isn’t it the reserve bank lowering interest rates that will achieve it?
And doesn’t any incentives just push up prices?
There’s curently an oversupply of houses in Auckland with rent dropping.
NZWarriors.com
Lower to medium paid workers who found that as their pay increased, they moved up into the next tax bracket. Think of it this way.... the CEO of a company on a multi-million salary won't noticed $25 PF in additional income but someone on the average wage would.
Plus, there's a difference between borrowing to run the government (even because of unwise tax cuts) @ $3.5 bil PA and the Greens idea of borrowing an additional $22.8 bil. average PA (change in net core Crown debt: 7.0B + 11.7B +28.6B + 44.5B divided by four years) to laden future generations with a huge amount of debt.
From the Greens Alternative Budget....
The graph above is from page 42 of the Greens Alternative Budget linked below...
- Thread starter
- #16,894
Govt should run a surplus in good times and a deficit in bad times.
Broadly, the surplus slows the economy and the deficit pumps more in and helps. By definition we’ve been in a long deep recession so we should be in deficit.
We shouldn’t fund day to day expenses by debt long term like the Greens are proposing.
Hard to know how much of the savings in interest rates will be gobbled up by power and food or whatever else that they’ve warned will go up later in the year? There is an oversupply in many areas you’re mentioning but largely because of a stagnant real estate industry with the market massively in the favour of the buyer, and also some factors like the alteration to bright line that Mike mentioned and investors pulling out and houses going on the market
NZWarriors.com
TBH, there are someways they're looking at stimulating it... some like allowing the overseas certification of building products through approved overseas testing labs will be good. The current Acceptable Solutions was set up to help the NZ suppliers/manufacturers such as the width of roof flashings here. Fletchers basically gave MBIE it's standard sizes and they were adopted into E1.... even though other countries require smaller flashings meaning they couldn't get approval to work here. BRANZ receives a huge amount of money from NZ building supply/manufacturing companies and aren't overly helpful in testing products from overseas.
Others, like allowing builders to self-certify their work is just asking for trouble.... think of the Leaky Homes crisis but worse.
There's still too many unknowns about changes to planning rules to know if they'll be successful or not.
- Thread starter
- #16,897
Inflation is still low with things like petrol and food going down to offset rates and insurance. Families with big mortgages will be hundreds of Dallas a week better off when they next refix.
The surplus of housing is in an oversupply of units causing rent to rise (irrespective of house pricing). There was a massive amount of units built in central cities and now the population isn’t rocketing up. An oversupply indicates in some areas we don’t need much more new housing.
I wish I had a few extra Dallas's
NZWarriors.com
I’m not too interested in discussing the greens proposal as it’s never going to happen and wasting my thumb typing. Just wanted to know if the debt that was added was of value, and it obviously was to you . Appreciate you’re view and probably agree that some debt is ok provided it goes to the right places, only problem is we’ve all got our different views of where the right places are
stimulation, for the sake of stimulation should really only be for exports, in my view
I'm ok with government stimulating housing supply growth, as that satisfies a social need across the board
but trying to stimulate one industry over another, with no net export increase, isn't value for public money
