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Andrew Dickens: Is this what we can expect for the next three years?

Andrew Dickens,
Publish Date
Mon, 27 Nov 2023, 1:22PM
Photo / Mark Mitchell
Photo / Mark Mitchell

Andrew Dickens: Is this what we can expect for the next three years?

Andrew Dickens,
Publish Date
Mon, 27 Nov 2023, 1:22PM

Congratulations to the new coalition Government, which was sworn in today by Governor General Dame Cindy Kiro.

And as our new Prime Minister says- they're ready to get stuck in.

But things are already getting better. Some say it's just because of the vibe. But don't discount plain good luck and timing.

The so-called hermit kingdom is over. As we heard a week ago, nearly a quarter of a million people chose to emigrate to New Zealand in the past year.

Today we learn tourism is up- and spending in the year to September hit $30 billion dollars.

That's up $6.6 billion on the previous year - and pretty much back to pre-Covid levels.

This while the international spend is still recovering.

As Nicola Willis finally gets her warrant to fool with the economy, the economy appears to be turning a corner.

In today's paper is a report that economists believe the Reserve Bank will not be raising interest rates anytime soon. It also reports that markets are predicting a rate cut as early as May and as many as 3 cuts through 2024. Which is great news for first-home buyers.

With all this good news, there's still one thing that bugs me about this Government and that's the disconnect that you feel when a tax cut has to be funded by a tax rise.

You'll remember that was the problem I had during the election where the tax cut for the squeezed middle was funded by a wealth tax on rich foreigners buying houses. For a Government averse to taxes, it seemed off brand.

The new version came up after the Government's surprise axing of the smokefree programme, and I say surprise because no one can find mention of it in any pre-election manifesto but axed it has been on New Zealand First and ACT's insistence.

Yesterday on Newshub Nation, Nicola Willis said extra revenue from more widespread cigarette sales would help fund tax cuts in lieu of the now-scrapped foreign buyers tax.

This was a loose thing to say prompting accusations that long-term public health had been sacrificed for a short-term cash-grab.

Which is a bad way to start a term.

It's not rocket science. If you cut a tax you cut expenditure. You don't tax a fall guy to make it work. That's inequitable.

Jack Tame asked Nicola Willis if she accepted more people would die because of cancelling the #Smokefree policy.

Willis says- "I have not seen advice or analysis of that so I am not prepared to answer that question".

FFS, this is what we can expect in the next three years.


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