Cullens thievery continues unabated

Economy growing unsustainably fast – Cullen – 12 Jul 2007 – NZ Herald: New Zealand Business and Personal Finance News

According to Michael Cullen the economy is growing too fast. too fast despite his continued thievery from taxpayers at record breaking levels.

His three pronged attack at dampening down the economy is to;
Firstly, taking into account contributions to the New Zealand Superannuation Fund, the Government was removing demand from the economy. i.e. Continue the over taxation of kiwi’s today to put aside money for Kiwi’s later.

Secondly, the expansion of KiwiSaver was increasing household saving and would take pressure off monetary policy. In other words giving people a hidden pay raise that they can’t access until they are 65.

Thirdly, steps had been taken to increase the so-called speed limit of the economy — the speed at which the economy could sustainably grow without building up unsustainable pressure. WTF is that supposed to mean, If other countries can happily grow at 5% or higher why do we have to smack down growth when it struggles above 1%?

All that tosh comes on top figures that revealed that the New Zealand government’s operating surplus for the 11 months to May 31 was $7.2 billion, $599 million or 9.1 per cent above forecast due to higher investment gains.

The operating balance before revaluations and accounting changes (oberac), which strips out unrealised investment gains, was $6.805 billion, $206 million higher than forecast.

The Government’s net cash position, the difference between all income and spending — operational and capital — was a surplus of $2.27 billion compared with a forecast surplus of $2.01 billion.

So we have to dampen down the economy all the while Cullen by any measure you care to use is stealing more money from the taxpayer than is required to run even the excesses of this government. Even by Cullen’s own favorite measure he has taken $2 billy more than he needs.

Powered by ScribeFire.


Do you want:

  • Ad-free access?
  • Access to our very popular daily crossword?
  • Access to daily sudoku?
  • Access to Incite Politics magazine articles?
  • Access to podcasts?
  • Access to political polls?

Our subscribers’ financial support is the reason why we have been able to offer our latest service; Audio blogs. 

Click Here  to support us and watch the number of services grow.

As much at home writing editorials as being the subject of them, Cam has won awards, including the Canon Media Award for his work on the Len Brown/Bevan Chuang story. When he’s not creating the news, he tends to be in it, with protagonists using the courts, media and social media to deliver financial as well as death threats.

They say that news is something that someone, somewhere, wants kept quiet. Cam Slater doesn’t do quiet and, as a result, he is a polarising, controversial but highly effective journalist who takes no prisoners.

He is fearless in his pursuit of a story.

Love him or loathe him, you can’t ignore him.

To read Cam’s previous articles click on his name in blue.

41%