Ok, so here we have what I said would come in the last election. National cannot promise tax cuts like they are proposing.
Bill English said today something like “the downturn is worse than even the worst prognosis and therefore the tax cuts cannot be upheld”. Basically either he is lying and National has pulled the election coup of the century by buying the election and then not paying up with full intent or he is admitting that the oh so financially competent National Party has no clue what’s happening on the world markets. Please Mr. Key take a pick! I do feel sorry for the 45% (minus the few super-rich) that have voted for National. You’ve just proven that you’re politically gullible. Hope this will teach you a lesson in believing in what politicians say.
As for cutting investments into superannuation, the second idiotic thing in the budget, it’s just typical behaviour. Pray on the future which someone else will have to deal with. They made it look as if there were only two options: no investment or an unsound investment. I really can’t believe that a “financially highly capable” National Party cannot find an investment that cannot return a good return. I’d even say that money could have been invested into NZ and have directly created jobs! How shortsighted.
There seem to be only two good things that came out of the budget.
- Insulation for homes. Thanks Greens and Maori Party!
- Luckily not even more headless damage. Thanks National Party for being a bit lazy or afraid of the backlash.
Point to note is the absence of Labour in this post. I think they have to step up to the game a bit if they want to have a chance in the near future.
Sorry for the political rant but it’s hard not commenting when given such an invitation. I do hope the feeling is mutual.