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Inside The Budget 2014 Lockup -Audio + Video + Images

Pattrick Smellie: The Worm Turns In Budget 2014

Six years ago, just before the global financial crisis but as a local recession was taking hold, then Finance Minister Michael Cullen delivered substantial tax cuts in the last Budget of the Labour-led government's nine year reign.

With a general election looming, it looked like the kind of Budget the Finance Minister in a National-led government might have liked to deliver.

In 2014, Finance Minister Bill English has delivered a Budget that looks like a restrained version of the kind of Budget a Labour Finance Minister would like to deliver. More>>

ALSO:

• Business.Scoop - Government surplus meets rating agency expectations - Imported building products get leg-up with duty cuts - NZ govt sees economic growth at 10-year high - Improved write-offs for R&D spending to proceed - NZDMO to lift bond issuance $3B on slow cash surplus - 'Sweet spot' Budget marks NZ as stand-out economy - Power company proceeds reach Kiwirail, irrigation

Alastair Thompson: A Budget Worth Dancing Over

Looking through this year's Budget Economic and Fiscal update it is hard to find anything to be concerned about. Whichever way you look at it NZ's economic outlook is starting to look remarkedly benign. More>>

ALSO:

• Out-Link - Budget 2014: Yeah okay. • OnPoint • Public Address
• Out-Link - Economics New Zealand: The Budget - a big picture view
• TV3 Video - Budget 2014: Surplus at $372M, families benefit - Australians reeling from 'budget of pain'

BUDGET DEBATE SPEECHES - AS PREPARED

Parliamentary Reaction:

Government/National

• Scott Simpson Welcomes 2014 Budget

Labour

• National delivers a fudge-it budget - National's fudge-it budget doesn't fix it

Greens

• National cuts health and education to pay for faux surplus - Budget abandons poor kids and workers - Christchurch flood victims cut out of Budget 2014

NZ First

The Maori Party

• Keep it real: Maori Party Proud of Budget gains for families

ACT

United Future

• UnitedFuture Welcomes Family Focus in Budget

Mana

Non Parliamentary Political Reaction:

Health Sector Reaction:

• NZ Plunket Society - Pre-election budget takes baby steps in the right direction
• Health Funds Association of NZ - Budget misses 'big picture' on health - HFANZ
• Association of Salaried Medical Specialists - A lost opportunity – govt failure to invest in health
• PSA - Health budget leaves doctors focussing on paperwork

Education Sector Reaction:

• Tertiary Education Union - Nothing for regional polytechnics in budget
• NZ Kindergartens - ECE funding lacks focus on quality

Union Reaction:

• NZ Council of Trade Unions - National's budget won't grow wages

Global Markets/Futures

Banking and Finance

• NZ Bankers' Association - Budget 2014: Sound economic management pays dividends
• Payments NZ - Good decision to remove duty on cheques

Accountants & Analysis

• Deloitte - Budget addresses Auckland housing and transport issues - Supporting growth of Māori economy is vital for Aotearoa - Surplus a marker along New Zealand's economic journey - Budget 2014 provides tax options for the future
• PwC - Budget 2014: Ready to Rise - Budget 2014: Where's the magic? - Budget 2014: Good news for business

Business

• Wellington Employers' Chamber of Commerce - Hidden Gems in Budget for Wellington
• BusinessNZ - Solid progress in 2014 Budget
• Property Council Of NZ - Budget Predominantly Positive
• Federated Farmers - Federated Farmers welcome return to surplus

Other Reaction

• Greenpeace NZ - Budget Response from Greenpeace
• UNICEF - Budget Investments for Children Warmly Welcomed
• Save The Children - Save the Children Applauds Budget 2014 for Family Focus
• 26 for Babies - Increase to paid parental leave a start

SUMMARY SHEETS

• Key: Supporting families and returning to surplus
• Budget 2014: At a Glance

Economy

• English: Budget's focus on managing a growing economy
• Support for three Maori economic initiatives
• Responsible spending will restrict rate rises
• Share offer proceeds boost capital investment
• Government to boost parental leave provisions
• Budget boosts parental tax credit for families
• Irrigation funding to help economy, environment
• Cheque duty to be abolished in July

Education

• $857.8 million more to raise student achievement
• $2.5m Budget boost for computers in homes
• Literacy programme to benefit more communities
• $85.3m increase in schools' operational funding
• Budget invests an extra $155.7m in ECE
• $284m extra allocated for schools, classrooms
• $199m boost for tertiary education and research

Welfare

• $500m children, families package at heart of Budget
• Investing more in reducing welfare dependency
• Providing more support for families in need
• Extra Budget support for Whanau Ora navigators
• $8.6m for Youth One-Stop Shops social support

Health

• Health budget increases to a record $15.6b
• Budget supports range of disability services
• Free doctors' visits, prescriptions for under 13s
• More New Zealanders to get elective surgery
• $33m invested in better cancer services

Housing

• $30m Budget boost for Social Housing Fund
• Housing initiatives to support growing economy
• Duties and tariffs on building products removed

Law, Order & Security

• Investing to protect our most vulnerable children
• Better crime prevention, offender rehabilitation

Research, Growth And Innovation

• Two new tax measures to support business R&D
• $56.8m more for contestable science funding
• $20m for freshwater and environment initiatives
• Three more Centres of Research Excellence
• Funding for Maori Centre of Research Excellence

Art, Culture And Sport

• $12m boost over four years for iwi radio stations

Trade and Foreign Affairs

Christchurch Earthquake Recovery

• $50m of extra funding for earthquake recovery

Other Stuff - Maori, State Sector, Local Govt

• Further $198m for KiwiRail's Turnaround Plan
• Budget indicates room for further ACC levy cuts
• Funding boost for Privacy Commissioner
• $375m to accelerate Auckland transport projects
• $26.5m over four years to protect kauri

Last Minute Wish-Lists: Cunliffe Wants Budget To "Stand And Deliver"

After six years of marking time and favouring its friends, it is time for the Government to stand up and deliver real progress for all New Zealanders, says Labour Leader David Cunliffe. More>>

ALSO:

• Gordon Campbell - Gordon Campbell on this week's Budget rhetoric, and Jim Jarmusch
• Scoop Business - NZ budget to show faster drop in unemployment rate, Key says - Budget surplus on track as corporate tax starts catching up
• The Scoop Team - PM Post-Cabinet Press Conference - May 12, 2014
• NZ Treasury - Financial Statements of NZ Govt for 9 Months to 31/3/14
• The Nation - On Minor parties debate the economy
• NZ Govt - Key Notes: Budget 2014 - Managing a growing economy - Budget 2014: Extra $132m for tax compliance
• Labour - Health in need of refreshment - Budget must focus on kids
• Greens - The Budget must spread any gains around
• ACT - ACT's Alternative Budget 2014 - The Letter: 24 cent TOP tax rate
• CTU - Health budget needs $500 million in new money to avoid cuts
• Tertiary Education Union - Joyce's budget assault on regional polytechnics
• Democrats for Social Credit - 2014 Budget Statement - West Coast hospitals saga sounds another warning
• Aotearoa Legalise Cannabis Party - ALCP Release Shadow Budget Report
• NZ Taxpayers' Union - Budget Surplus Should Pay Back Debt - English Ignoring the Big Picture
• Association of Salaried Medical Specialists - Budget opportunity for govt to fund health properly
• PricewaterhouseCoopers - Budget 2014 - PwC New Zealand report card
• Auckland Action Against Poverty - Protest Planned for Prime Minister's Post-Budget Speech
• Reclaim UOA - Students Protest the Budget & Changes to Tertiary Education
• UNICEF - Budget Needs to Focus on Children and Families
• NZEI - Call for Budget to meet children's needs
• Coalition for Better Broadcasting - CBB expectant that Radio NZ will be included in 2014 Budget
• Blockade The budget - Students angry about lack of progress on IPCA investigation
• TV3 Video - Budget to target housing market - economist - Caution needed after suplus - Tax Union - Australia reacts to Abbott Govt's Budget - Key hints at tax cuts - Mixed reactions to Aussie budget - Little for first-home buyers in Budget - English - Key hints at paid parental leave changes

Australia:

• Out-Link - Australian Budget 2014: HotTree Visualisation - Keith Ng
• Australian Govt - Hockey: Australian Federal Budget 2014/15 Speech
• Australian Private Equity and Venture Capital Ass - Short-term pain, now we need to see long-term gain

Crown Accounts: Budget Surplus On Track As Corporate Tax Starts Catching Up

The government's lagging tax-take got a boost in March as later than expected filing of 2013 company tax returns bolstered the contribution from corporate taxpayers, allowing Finance Minister Bill English to confirm next week's Budget will project a return to surplus. More>>

ALSO:

• NZ Treasury - Financial Statements of NZ Govt for 9 Months to 31/3/14
• NZ Govt - Govt accounts closer to forecast in nine months
• Labour - Lower tax take leaves Govt revenue $829m down - Low tax take, high spending leaves books in the red
• Greens - Govt will need smoke and mirrors to achieve Budget surplus

Greens' Plan: Greens Will Establish A Green Investment Bank

The Green Party will establish a Green Investment Bank as a first step in accelerating New Zealand's transition to a smarter greener economy, Green Party Co-leader Dr Russel Norman announced today. More>>

ALSO:

• Scoop Business - Greens to whack oil companies to fund clean-tech investments
• WWF - Green bank: a positive step towards low-carbon economy
• NZ Taxpayers' Union - Green Bank – What Could Possibly Go Wrong?
• Generation Zero - Generation Zero welcomes Green Investment Bank proposal
• TV3 Video - Green bank to follow European models - Norman - Russel Norman explains the Green Investment Bank - Green Party looks to open own bank

Gordon Campbell: On This Week's Budget Rhetoric

After weeks of political scandal, National is understandably keen to seize on Budget week as its big chance to refocus election year entirely, around issues of economic management. Yesterday's post-Cabinet press conference was a case in point. More>>

ALSO:

• The Scoop Team - PM Post-Cabinet Press Conference - May 12, 2014
• Scoop Business - NZ budget to show faster drop in unemployment rate, Key says
• TV3 Video - Key hints at paid parental leave changes

Labour Plan: Labour Will Set 4% Unemployment Target

The next Labour Government will set a target of reaching four per cent unemployment by the end of its first term and run Government surpluses to pay down National's record debt, says Labour Leader David Cunliffe. More>>

ALSO:

• Scoop Business - Cunliffe pledges surpluses, unemployment down to 4% - NZ budget to show faster drop in unemployment rate, Key says
• CTU - Workers support Labours plan to bring unemployment down
• EPMU - Labour Party unemployment target a breath of fresh air
• TV3 Video - Labour sets 4pct unemployment goal
• Image: Employment rate Statistics NZ - Employment continues to rise - Statistics New Zealand

Budget: Key Announces $20M For Apprentices, $3k Jobless Grant

Prime Minister John Key says an extra $20 million will be provided in this year's budget to expand the government's apprentice subsidy scheme and $3.5 million for grants to lure unemployed people to jobs in Canterbury. More>>

ALSO:

• NZ Govt - Pre-Budget Speech: Shed 6, Queens Wharf, Wellington - Budget 2014: $20m for 6,000 more apprentices - Budget 2014: '$3k to Christchurch' to help job seekers
• TV3 Video - People will 'adapt' to Christchurch - Bennett
• Leighs Construction Ltd - Skilled professionals sought for construction careers

Housing, Immigration & More: The Nation's Minor Parties Budget Debate
United Future backs increased refugee take and increased population - ACT would make raising super age and linking it to inflation rather than income "a priority" in coalition negotiations - NZ First insists no crisis in Super funding; Greens say "smart, green economy and productivity gains can pay for super age to stay at 65" ... More>>

ALSO:

• ACT - ACT's Alternative Budget 2014
• Out-Link - TVHE | ACT's alternative budget - TVHE | Monetary policy 2.0?
• NZEI - Call for Budget to meet children's needs
• Taxpayers' Union - English Ignoring the Big Picture
• UNICEF - Budget Needs to Focus on Children and Families
• TV3 Video - Budget priorities for the 'minnow' parties - ACT leader steals thunder in minor party debate

Notoriously Reliable Predictions: Budget To Show Rise In Full-Time Income To 2018: English
This year's Budget will forecast wage increases through to 2018 amounting to a $10,500 a year increase in average full time earnings over six years to $62,200 a year, says Finance Minister Bill English in a speech urging voters not to "put all of this at risk" by changing the government. More>>

ALSO:

• NZ Govt - English: Pre-Budget Speech, Wellington
• Labour - English confirms he has no plan to raise wages - Promise of jam tomorrow takes the cake
• TV3 Video - English aims to keep interest rates down

John Key: Pre-Budget Speech To North Harbour Club
Today I want to talk about the Budget, which will come out on 15 May. This will be the National-led Government's sixth budget.
Some of those budgets have felt at times like an exercise in crisis management. So I take my hat off to Bill English... More>>

ALSO:

• NZ Govt - Key Notes: Our priorities for Budget 2014 - Boosting trade presence in China, S. America & Middle East
• Labour - Labour fact check: Key's twists and turns in speech - National fiddles while mortgages rise
• Export NZ - ExportNZ welcomes increased help for exporters
• BusinessNZ - Investment in exports well-placed

Government Pre-Budget Announcements:

• Finance Minister to deliver Budget on 15 May
• Two funded cochlear implants for children
• Investing $100.9m in defence
• Sexual violence services get funding boost
• Additional $20m to help fight rheumatic fever
• New funding for rural and Maori housing
• $22m boost for budgeting services
• $20m for 6,000 more apprentices
• Pre-Budget Speech: Shed 6, Queens Wharf, Wellington
• '$3k to Christchurch' to help job seekers
• Boost in Canterbury support services
• Duty-free tobacco limits to fall
• Extra $132m for tax compliance

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