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Budget 2012 - Scoop Full Coverage - Comment Reports Reaction
Budget 2012 - Scoop Full Coverage
Parliament
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Video Of Budget 2011
Keith Ng Interactive
Graphic: How the Budget Breaks Down
Finance Minister Bill English
answers questions at today's budget - his fourth in this
Government.
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ANNOUNCEMENTS
PARLIAMENT
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RELATED LINKS:
For the full text (when released) of the budget see...
TREASURY BUDGET 2012 WEBSITE
See also the BEEHIVE BUDGET PAGE
For previous budgets see...
BUDGET 2012 - BUDGET 2010 - BUDGET 2009 - BUDGET 2008 - BUDGET 2007 - BUDGET 2007 - BUDGET 2006 - BUDGET 2005 - BUDGET 2004 - BUDGET 2003 - BUDGET 2002 - BUDGET 2001 & BUDGET 2000
BUDGET 2012 - SCOOP COMMENTARY / REPORTS
Parliament Today - Bill English Delivers Budget 2012 and House Moves Into Urgency
Business.Desk
BUDGET 2012: DMO flags inflation-indexed bond issues
BUDGET 2012: Govt hits bach rent tax rort, disappoints kids
BUDGET 2012: KiwiSaver auto-enrolment delayed
BUDGET 2012: Profitable power company sale to prop up loss-making railway
BUDGET 2012 COMMENT: Doddling along the best we can hope for
BUDGET 2012: NZ economic outlook deteriorates
BUDGET 2012: Smokers, KiwiSavers, IRD lead way to surplusBUSINESSDESK REACTION
- MARKET CLOSE: NZ shares fall on weak China, Budget yawn
- BUDGET 2012: NZ dollar holds above 75 cts after zero budget, EU meeting
- BUDGET 2012: Higher tax on smokes opens door to black market: Imperial
- BUDGET 2012: PwC, EY query reliance on chasing tax dodgers
- BUDGET 2012: S&P affirms NZ's credit rating after budget
COMMENTARY
English: Competitive economy, surplus at heart of Budget
Budget 2012 invests in building an innovative and productive economy that sells more to the world, supports more jobs, and delivers better public services while getting back to fiscal surplus, Finance Minister Bill English says. More >>Sludge Report: Short The Dollar!The NZ Debt Management Office has been so surprised at the unprecedentedly low interest rates that it can borrow at that it has already entirely pre-funded the 2013 fiscal deficit - all $8 billion of it!More >>
Pattrick Smellie Comment: Doddling along the best we can hope forCriticising Budgets for lacking vision or imagination is like shooting fish in a barrel, but even so, this year's Budget again feels like a missed opportunity. Perhaps it's the intrusion of real world needs that means the government couldn't make better political use of the $558.8 million it expects to gather in its first partial asset sale. More >>
BUDGET 2012 - THE REACTION - FULL COVERAGE BUDGET DEBATE SPEECHES - AS PREPARED
- Bill English - Budget Speech
- Winston Peters - Back to the Future
Parliamentary Reaction:
National
Labour
- National delivers a departure lounge Budget
24 May 2012 2:49pm | New Zealand Labour Party- Growth Disappoints As Govt Picks The Paper Boy’s Pocket
- Maori Party - Budget 2012
Greens
NZ First
The Maori Party
- Maori Party Co-Leaders: Budget 2012
ACT
United Future
Non Parliamentary Political Reaction:
- Conservative Party - National Should Change the Colour of Their Shirts
Health Sector Reaction:
- Aged Care Association - Change in Asset Threshold Necessary
- Shane Bradbrook - Tobacco Tax Increase
- Rural General Practice Network - No surprises, no benefits for rural health in Budget 2012
- NZMA Investment in health services supported by NZMA
- Southern Cross - Southern Cross Response to Vote Health
- Association of Salaried Medical Specialists - Budget Does Not Give Enough to Health
- Medicines New Zealand - Medicines NZ welcomes the additional investment in health
- Aged Care Association - NZACA Welcomes $7 million Increase for Dementia
- Cancer Society - Thumbs up!
- ASH NZ - Tobacco tax increase shows commitment to smokefree 2025
Education Sector Reaction:
- Tesolanz -Second language students disadvantaged by cuts to class size
- Universities New Zealand - Budget Confirms Central Role Of Universities For Growth
- PPTA - Budget “King Hit” On State Secondary Schools
- Early Childhood Council - Early Childhood Council reacts to Budget
- Kindergartens Inc - New Zealand Kindergarten Response to the 2012 Budget
- NZEI -Budget confirms lack of investment in children
- AUSA - Students' fears confirmed in 2012 Budget
- Tertiary Education Union - Further cuts for tertiary education
- NZAIMS - Technology under threat from govt changes to school staffing
- Principals' Federation - Budget Bombs for Kiwi Kids’ Education
Union Reaction:
- Council of Trade Unions - Austerity-lite budget risks recession
- Early Childhood Council - Record numbers for Early Childhood Council Annual Conference
- Rail And Maritime Transport Union -Privatising assets should not be a reason for rail plan
- PSA - Zero Budget delivers more pain for no gain
Global Markets/Futures
- NZDMO - Borrowing Programme $3 billion Lower over Forecast Period
- CMC Markets - Euro Crisis Stains Confidence Of Investors
- IG Markets - IG Markets - Afternoon Thoughts
Banking and Finance
- Rabobank - RaboDirect says Budget has important message for savers
- ASB - ASB cuts fixed home loan interest rates
- Mercer - Mercer on Budget: retirement shortfall must be addressed
- Mercer - Roadmap To Surplus Welcome, But Retirement Shortfall
- KPMG - On the Level – Budget 2012- KPMG Analysis
- Bankers' Association - Good public purse management keeps cost of credit down
Smoking
- Imperial Tobacco - Illegal tobacco market set to rise
Accountants & Analysis
- Deloitte - Budget Barely Causes A Ripple On Tax Landscape
- Institute of Chartered Accountants - Budget 2012 tax changes “steady as she goes”
- Deloitte - Budget 2012: Getting the formula right
- Deloitte - Sustainable public sector needs more than cuts
- Deloitte - Mixed ownership funds could transform economy
Business
- Federated Farmers - New livestock tax rules in Budget 2012
- Business New Zealand - Responsible investment approach in Budget 2012
- Employers And Manufacturers Association - Zero Budget gives business head room to grow economy
- NZMEA - Still waiting on real changes - 24 May
- Horticulture NZ -Horticulture disappointed Budget ignores biosecurity
Other Reaction
- Association of Scientists - Budget 2012: Young Scientists Will Be Booking Their Tickets
- Greenpeace - Budget fails New Zealand and the climate
- AUSA - Students protest 2012 "Black Budget"
- Science New Zealand - Science now seen as vital to growing our national wealth
- Auckland Action Against Poverty - Budget Entrenches War On The Poor – Protests Friday
- COMVOICES - Does Budget 2012 deliver?
- Te Kahui Mana Ririki - Budget has right direction for Maori and Pasifika kids
BUDGET 2012 - THE PRESS KIT
(Note see also pre-budget announcements below)The Budget Speech
Budget Speech
Coalition Leaders' StatementsSUMMARY SHEETS
Economy
- More money for successful tax compliance
- Budget changes raise revenue, increase fairness
- Competitive economy, surplus at heart of Budget
- Future Investment Fund for modern infrastructure
- Changes build on success of KiwiSaver
- Budget 2012 – Investing In Our Future
- Budget focuses on better public service results
- Remaining on track to Budget surplus in 2014/15
- Budget 2012: Investing in New Zealand’s future
- Budget frees up $4.4 billion for higher priorities
Education
- $511.9m more to deliver better results for students
- Government support for Māori education
- $33.8 million into upgrading schools
- Hundreds of schools to benefit from broadband
- $110.9m to increase early childhood participation
- $159m to strengthen higher-level tertiary education
- Tertiary savings fund new investment
- $29.5m to stimulate innovation in tertiary sector
Welfare
- $287.5m up-front investment in welfare reforms
- Extra support for vulnerable youth
- 3,000 more Youth Guarantee places funded
Health
- Health receives largest increase in spending
- $33m more for improved cancer services
- Tobacco excise rise part of wider programme
- $68m for more operations, scans and tests
- Fund to improve health of Pasifika communities
Housing
Law, Order & Security
- Modern and accessible courts services a priority
- Setting targets for safer communities, less crime
- Justice sector funding pool for better results
Research, Growth And Innovation Framework
Art, Culture And Sport
Trade and Foreign Affairs
Christchurch Earthquake Recovery
Other Stuff - Maori, State Sector, Local Govt
PARLIAMENT:
Parliament Today
- Questions for Oral Answer - May 22
22 May 2012 11:50am | ParliamentToday.co.nz
National
- Govt uni investment up 13.5% in four years
23 May 2012 1:37pm | New Zealand Government- Budget 2012 goes high tech with new app
22 May 2012 12:05pm | New Zealand Government- Feedback sought on Exclusive Economic Zone regulations
22 May 2012 11:40am | New Zealand Government- Budget 2012: Reducing Reoffending, Victims of Crime
21 May 2012 1:24pm | New Zealand GovernmentMaori Party
ACT Party
- Less Government = Higher Wages
23 May 2012 2:44pm | ACT New ZealandLabour
- Fonterra still holding back Trading Among Farmers details
23 May 2012 3:02pm | New Zealand Labour Party- Community Voice Needed On Living Wage
23 May 2012 2:29pm | New Zealand Labour Party- Living wage campaign; time for political discussion
23 May 2012 10:09am | New Zealand Labour Party- National's motorways driving local roads into disrepair
23 May 2012 9:30am | New Zealand Labour Party- Labour Leader to Deliver Scene-Setting Budget Week Speech
20 May 2012 1:16pm | New Zealand Labour Party- Tough decisions needed to get the economy growing
22 May 2012 9:03am | New Zealand Labour Party- Kiwis Deserve Better Economic Leadership
21 May 2012 2:21pm | New Zealand Labour Party- Prime Minister Wrong on Zero Budget
21 May 2012 1:39pm | New Zealand Labour Party- Corrections Announcements Score Zero for Ambition
21 May 2012 5:16pm | New Zealand Labour PartyGreens
- Ratepayers will pick up Nat's roading tab
23 May 2012 11:31am | Green Party- Green Party supports living wage campaign
23 May 2012 10:56am | Green Party- UN advises Govt it's not too late to cancel welfare reforms
22 May 2012 11:36am | Green Party- Green Party Celebrates Mokihinui Decision
22 May 2012 11:24am | Green Party- Asset sales will leave Govt and economy worse off
21 May 2012 12:06pm | Green PartyMana Party
- Just Another Neo-Liberal Failure]23 May 2012 9:39am | Mana Party
- Why the poor are becoming poorer 23 May 2012 9:15am | Mana Party
New Zealand First
Clueless Nats Are Sinking Fast - Peters 23 May 2012 4:22pm | New Zealand First Party- Government Creates 'Lack of Grunt' in NZ Economy - Peters 21 May 2012 12:50pm | New Zealand First Party
PRE-BUDGET REACTION
Education:
- Students Protest happening at 1pm today. 24 May 2012 12:34pm | AUSA
- Students protest 2012 "Black Budget"24 May 2012 12:28pm | Blockade The budget
- 2012 Budget Release – More Doors Closing for NZ Students?24 May 2012 11:44am | NZUSA
- Teacher Freeze on Books Since 2009 – PPTA23 May 2012 2:39pm | PPTA
Unions
- TEU Tertiary Update Vol 15 No 1724 May 2012 10:10am | Association of University Staff
- CTU backs campaign for a Living Wage 23 May 2012 11:11am | NZCTU
- EPMU: A Need To Take Notice of the Living Wage Campaign23 May 2012 2:56pm | EPMU
- Living wage campaign will capture public mind 23 May 2012 11:02am | First Union
- Launch of Living Wage Aotearoa New Zealand campaign today23 May 2012 10:02am | Service And Food Workers Union
- Poll delivers strong message on public sector cuts22 May 2012 11:48am | PSA
- Health Budget on track for a $150m shortfall 22 May 2012 10:56am | New Zealand Council of Trade Unions
Business:
- Business Desk:
- Midday Update: NZ$ falls, F&P beats guidance 24 May 2012 12:36pm | BusinessDesk
- NZ April trade surplus shrinks on dairy exports 24 May 2012 12:12pm | BusinessDesk
- NPT lifts earnings on Christchurch insurance payout 24 May 2012 10:48am | BusinessDesk
- Argosy annual earnings flat, no change in 2013 dividend 24 May 2012 9:51am | BusinessDesk
- F&P Appliances beats FY guidance as earnings fall24 May 2012 9:50am | BusinessDesk
- NZ dollar hits 6-mth low, revives, as EU meets; budget looms 24 May 2012 8:39am | BusinessDesk
- While you were sleeping: Euro contingency plans 24 May 2012 7:37am | BusinessDesk
Banking and Finance:
- Deloitte on Budget 2012: Is Govt getting the formula right?23 May 2012 12:33pm | Deloitte
- Primary products drive fall in export values 24 May 2012 11:14am | Statistics New Zealand
- IG Markets: Morning Thoughts24 May 2012 11:09am | IG Markets
- NPT Limited Announces Trading Profit of $9.94 million24 May 2012 10:46am | NPT Limited
Police and Corrections:
- Corrections Goals Ambitious but Attainable22 May 2012 10:05am | Rethinking Crime and Punishment
Community:
- Crown Entities Reform Bill is Sabotaging Govt’s Own Policies23 May 2012 2:34pm | Comvoices
- Living wage critical in fight against poverty23 May 2012 12:44pm | Auckland Action Against Poverty
- Budget Must Invest in New Zealand’s Children22 May 2012 10:30am | UNICEF NZ
Local Government:
- Auckland Mayor pledges fair and balanced 10-year budget 23 May 2012 12:06pm | Auckland Council
- Auckland Council Urged to Modify Rate Rise Proposals22 May 2012 12:48pm | Auckland Chamber of Commerce
- Strategic Assets Not for Sale 21 May 2012 1:45pm | Auckland - Office of the Mayor
Environment:
- Budget Set to Ignore Global Clean Energy Revolution 22 May 2012 1:03pm | Greenpeace New Zealand
Culture:
- Councillors Attempt to Sabotage Waterfront Theatre Project23 May 2012 11:20am | Auckland Theatre Company
Health:
- Health Staff Shouldn’t Be Victims Of Funding Shortfalls 22 May 2012 9:10am | Association of Salaried Medical Specialists
- Government’s Disability Budget gives Validation 16 May 2012 10:33am | Lifetime Design
- CCS Disability Action Pleased with the Extra Funding16 May 2012 10:12am | CCS Disability Action
- More Kiwis get flu vaccination 14 May 2012 10:17am | Trio Communications
Comment:
- iPredict:
- NZ Govt to forecast 2014/15 surplus but fail to deliver23 May 2012 6:56pm | iPredict
- Stop moaning, and Start Measuring22 May 2012 10:07am | 24-7
Parliament Today: Urgency To Follow Budget
The House will go into Urgency on Thursday following the delivery of Budget 2012 at 2pm. The Government informed the Business Committee of the decision at a meeting yesterday.More...Also:
- MPs Pecuniary Interests Register Released - Questions for Oral Answer: May 23 - Comparisons Between Prostitution And The Covered Bond Market - Questions and Answers: May 22 -Spooks Present Annual Reports - Questions for Oral Answer: May 22- Dealing with bills ahead of the budge - Privacy, Consumers and Defence/ - Consumer Law Reform Bill Hearings In Auckland - Questions for Oral Answer: May 10 - Environment Commissioner Appointment - Conscience Vote Issue Ties MPs Up In Knots
Budget 2012: Squeezing Every Drop Out Of A Zero Budget
The Government is trying to squeeze every drop of publicity out of its ``Zero Budget'' ahead of its delivery next Thursday.More >>Gordon Campbell On the Politics of Austerity: Later this month, New Zealand will be subjected to its second austerity Budget in a row. Zero budgeting is being presented as the only path of virtue. This is despite the fact that - elsewhere in the real world - it has been a very bad week indeed for the politics of austerity.More >>
AlsoBusiness.Desk - Smokes, booze and property tax breaks prime targets for Budget Labour - User Pays Plan Confirms Failure Labour - Cuts to classes result of government failure ACT - Performance Based Pay for Teachers Long Overdue Budget 2012: Recovery of Canterbury on Track Budget 2012 - Prescription Charges Help Fund Health Budget 2012: Education - Larger Classes For More Money Budget 2012: $144m more for disability support
BusinessDesk: Dollar Tumbles After OECD Cites Global Growth Risks
The New Zealand dollar tumbled after the Organization for Economic Cooperation and Development warned of the risks that the euro zone's debt crisis poses to the rest of the world. More >>Also:
- Business.Scoop - While you were sleeping: Relief rebound
- Overnight - World Week Ahead: EU rattles the globe
- Business.Scoop - While you were sleeping: Flight to quality intensifies
- BNZ - Weekly Overview
- Business Desk - While you were sleeping: Worries on euro risk
- Business Desk - More >>
- HSBC - RBNZ Observer Update
- Business Desk - NZ dollar holds near 4-month low after EU pledges bailout
- Business.Scoop - While you were sleeping: Greece, US jobs looking up
- Binoy Kampmark - The European Elections: The Assault on Austerity
- Keith Rankin - Greece, Germany and Euro: who are the bad guys?
- OECD - Economy: Bigger Euro Bailout Funds Needed - OECD
Budget 2012: Crime And Punishment
Budget 2012 will contribute to a 25 per cent reduction in reoffending by 2017, and 18,500 fewer victims of crime every year from 2017, Corrections Minister Anne Tolley and Associate Corrections Minister Dr Pita Sharples say. More >>Also:
- Labour Party - Corrections Announcements Score Zero for Ambition
- Rethinking Crime and Punishment - Corrections Goals Ambitious but Attainable
Housing: Social Housing Money Handed Out
People in need will get the most benefit from Government funding for new housing projects, to be developed by non-government providers. Housing Minister Phil Heatley has announced the successful applicants to the $25.3 million Social Housing Unit ... More >>ALSO:
- Greens - Social Housing need - A ticking time bomb
- Labour - Housing a non-event on National's policy calendar
Budget 2012: Prescription Charges Help Fund Health
Health Minister Tony Ryall has announced the Government will increase the $3 prescription charge to $5 per item up to a maximum of 20 items from 1 January 2013. The savings will be reinvested in the health sector. More >>
Also:
- Announcement - PM's Post Cabinet Press Conference Held In Hospital
- Gordon Campbell - On the Rise in Prescription Charges
- Labour - User Pays Plan Confirms Failure
- Otago University - Public Health Expert Questions Prescription Charge Move
- Labour - Minister of Illness Misses the Mark
- NZ First - Don't Increase Prescription Charges
- Govt - Budget 2012: $101m for Surgery, Cancer Services
- Govt -Budget 2012: Prescription Charges Help Fund Health
- Medicines New Zealand - Additional Investment in Health Welcomed
- Cancer Society - Good News for Cancer Patients!
- Pharmacy Guild - Payment Increase Expected
- NZMA - Extra funding for Surgery, Cancer Services Welcomed
Police: 120 Positions Axed In Fine Tuning
The New Zealand Police budget will not be cut this coming financial year but the organisation is planning some modest reductions in non-sworn support staff to live within its means, the Commissioner of Police, Peter Marshall, said. More >>Also:
- Police Association - Cutting Staff Doesn't Make Work Go Away
- Labour - Be Honest About Police Budget
- Labour - No front line cuts - pull the other one
- Green Party - Green Party comment on police staff cuts
- NZ First - Frontline Policing To Suffer Under Latest Cuts
Budget 2012: Education - Larger Classes For More Money
I'm here today to talk about our education plan. Education is a subject that's dear to my heart and head - and indeed yours, as future employers and business associates of the generation of young New Zealanders who are coming through our education system ... More >>ALSO:
- Govt - Budget 2012: Extra $511.9 million for education
- QPEC- Cream for Private Schools - Skim Milk for Public Schools
- Principals Federation - Bigger Classes Blow for Battlers
- Labour - Cuts to Classes Result of Government Failure
- Principals' Federation - Education Wrong Place for Performance Pay
MFaT: Cuts Scaled Back, Embassies Closed
Foreign Affairs Minister Murray McCully announced the closure of the Stockholm embassy in Sweden as part of $10 million of savings in the Ministry's European posts.
The Stockholm post was opened by the Clark government in 2008 and downsized by the current government in 2009.More >>Also
- MFat - Final Decision on Change Programme
- Unions - Scaled back MFAT restructure no cause for celebration
- Labour - Botched MFAT cuts hurt NZ's reputation
- NZ First - MFAT Cuts Stupid In The Extreme
Industrial Relations: New Laws Proposed
Labour Minister Kate Wilkinson has announced a package of measures that will extend workers' rights to request flexible working hours and ensure a fair and flexible collective bargaining environment. More >>ALSO:
- Govt - Improvements to Employment Law Announced
- Labour - Employment Relations Don't Have to be Lose-Lose
- Labour - Call for Community to Lead Employment Debate
- First Union - Employment Proposals Signal End to Catching up with Aust
- Employers And Manufacturers Federation Employment Law Changes Positive
- EPMU -No Surprises Over Government's Law Change Agenda
- CTU - Government Undermines Bargaining to Reduce Pay, Conditions
Warm Up: Insulation programme reaches 150,000 houses
The Government's programme to help insulate New Zealand homes has now reached the milestone of 150,000 insulated homes, Energy and Resources Minister Phil Heatley announced today. More >>Also:
- Greens - Sensible Policy
- Maori Party - Proud to celebrate success of the Warm Up NZ
Reserve Bank Minutes: High Exchange Rate 'Stopping Rebalancing'
The high kiwi dollar is preventing the long overdue rebalancing of our economy onto a more productive and less debt-ridden footing, the Green Party said today. More>>ALSO:
The New Zealand dollar drifted lower on Monday as Prime Minister John Key dismissed calls for intervention to weaken it the stuff of "la la land". More>>ALSO:
Labour - PM's la la land comments misinformed Greens - Reserve Bank not able to address high exchange rate - Key In La-La Land If He Thinks Deficit Sustainable Scoop Business - Bank profits rebound as bad debts fall; no one's borrowing - NZ central bank should keep OCR unchanged, shadow board says
Science Conference: Shearer On Investment In Science And Innovation
Investing in science and research is the way to create innovative industries that lead to higher productivity and higher earnings for New Zealanders and the country as a whole, says Labour Leader David Shearer. More>>ALSO:
- Martin Doyle - Martin Doyle Cartoon: Cruel Experiment In A New Zealand Lab
- NZ Association of Scientists - Do Emerging Scientists Have a Future in New Zealand?
- Ministry of Science and Innovation - Wanted: New Zealand's Most Innovative Businesses To Team Up
- Science Media Centre - SMC Heads-Up: GM Pine attack, issues for new scientists
- Labour - Speech: Shearer - NZ Association of Scientists Conference - National let business down on R&D
- EverEdgeIP - Super ministry won't help R&D problems
- University of Canterbury - Major funding boost for quake research
- Cawthron Institute - Cawthron breaks into potential multi-million dollar market
- University of Canterbury - Major funding boost for quake research
- UN News - Space Science Plays Key Role In Sustainable Development
Inflation: CPI Rises 0.5 Percent In March Quarter
The consumers price index (CPI) rose 0.5 percent for the March 2012 quarter, Statistics New Zealand said today. "The main reason for the rise was higher cigarette and tobacco prices," Statistics NZ prices manager Chris Pike said. More>>ALSO:
- Manufacturers and Exporters Association - Exporters pay the price for monetary policy failure
- Scoop Business - NZ consumer prices rise 0.5% in 1Q, tradable inflation slows - NZ dollar falls before first-quarter inflation figures
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