Thursday, May 30, 2019

Budget 2019 - It just gets worse


That is such a cute photo of a single mum and her daughter. Perfect for the 21st century Labour Party to put on the cover of their first ever "Wellbeing" budget.

There's just one problem:
Freeman, who features on the Wellbeing Budget with her 9-year-old daughter Ruby-Jean, said she moved to Auckland at the start of 2018 to pursue her dream. 
While they both got good work – featuring on Shortland Street, Jono and Ben and advertisements including Harvey Norman – she couldn’t afford the financial sacrifice, a brutal realisation after discovering she was paying her 15-year-old babysitter more than she was earning.
Sounds familiar. Beloved Wife has made similar comments about her shit wages looking after special needs kids. Fortunately it's basically milk money for us, but as she says, it's the principle of it that burns her.
She admitted she had given up on New Zealand. . . 
Watching Fonterra's share price drop through the crucial $4.00 barrier, I know how she feels.
As for the photo on the cover of today’s Budget, she said she initially felt it was out of context but then she saw that the Budget was all about happiness and wellbeing which both she and her daughter had now found in Queensland.

But, but, but..... But every Lefty I know and read told me it was simply an awful place, darlings, awful! Especially after they kicked the Australian Labor party in the nads just a few weeks ago.

But maybe the pineapple munchers are on to something.

H/T - Ele at Homepaddock.


Oh FFS....
. . . 10:30am – In a major blunder, Treasury staff mistakenly handed out copies of the budget to journalists and political commentators. 
Newshub’s Political Editor Tova O’Brien tweeted that she was given one of the top secret documents. When the recipients questioned whether they were supposed to see them before going into the lock-up, she says an official asked “Are you not Treasury?” before hurriedly taking the copies back. . .


Adolf Fiinkensein said...

Ye Gods! That must be the balls up of the decade. Even worse than the 'hack.

Can't these dopey buggers do ANYTHING properly.

The Veteran said...

Gueez Tom ... clearly we were thinking in parallel. You got there first so I've deleted my post.

This screw-up defines the budget better than anything else can.

Tom Hunter said...

Hey Vet

Yeah. As I said I normally leave NZ to you guys - but this entire omnishambles was too good to ignore. I mean the screaming about "hacking" raised my eyebrows in the first place given my background. The calling the cops. Now all this.

Dear god, but they're a useless shower. The next things you know people will be comparing them to May's Tory cabinet in jolly old England. said...

Not so much wellbeing as woebeing.

Tom Hunter said...

To paraphrase P J O'Rourke, I couldn't be having more fun than if I was watching the entire Iranian Air Force crash into an LPG facility.

Actually, that last would be way more cool than this. But I'll settle for this.

Tom Hunter said...

And when I finally start looking at the detail I find this...

“The annual growth in core Crown expenses in the current year is expected to be 8.3% and then 6.8% in 2019/20.

This compares to an annual average growth of 2.9% over the previous five years.

Are we in a recession already? Time for the next great Keynesian spurt?

Nah. That's the beauty of this.

When the economy is growing that means there's more tax revenue - and state spending can increase faster.

When the economy is in recession the government must step in - and state spending can increase faster.

The Veteran said...

Or this ... Business investment growth is expected to fall off a cliff down from 6.8% to a projected 0.7%. Explains why new jobs have flat-lined while beneficiary numbers increase ... and why the face of the Budget decamped to Oz.

Tom Hunter said...

Business investment growth is expected to fall off a cliff down from 6.8% to a projected 0.7%.

Yep! That's me. Over a $200 stacks capex last year. This year....... BZZZZZZZ.

I've been battening the hatches down for the last 18 months, at least as much as I'm able. Last year's was already locked in through 2017, but since then I have a choice so R&M is about it.

The scary thing is that this just may be the final straw. I honestly don't think it will make that much difference to me if National forms a government in late 2020.

Lord Egbut Nobacon said...

".......a brutal realisation after discovering she was paying her 15-year-old babysitter more than she was earning."

How long did it take for the brutal realisation to sink in? A financial genius like this is wasted in the private sector.

Please stop treating us as morons and and empty unthinking heads to be filled by spin. It just shows a contempt for the is taking a hit everywhere including OZ....

Why? where did it start? I would begin by looking at the present US administration where populism and desperate wish not to be chucked out after one term (Obama served two) has reduced business confidence to Zero and the knock on effect has yet to be felt.