Thursday, 20 May 2010

Budget Day: Open Debate [update 4]

I know there are plenty of intelligent readers out there with plenty to say about all the new theft announced this afternoon, so let’s use the power of the internet to get your thoughts recorded here.

Which is to say, this is an Open Debate on the Budget.

Go to it!


Anonymous said...

The real scary part of the budget is in the projections:


Also crucial to achieving a fiscally balanced tax package over the next four years will be the success of the Inland Revenue Department in cracking down on tax avoidance and evasion, including in the "black" economy where no tax is paid.

Additional funding for IRD is forecast to produce an additional $210 million a year in taxes, based on its success rate of a five-to-one payback from spending on tax investigations.

Mark Hubbard

Pro-Capitalist said...

I just turned on the TV and I caught part of the comment by daft Labour MP, David Parker who has just quoted something that Bernard Hickey said recently in which he said Hickey was correct.

If our MPs don't invest time to learn about economics but get their information from idiot economic oracle like Bernard Hickey, then I think that we have no hope because our politicians are definitely incompetent & illiterate.

Anonymous said...

So the loss of depreciation of buildings which have an expected life of greater than 50 years will be non depreciable.... the interesting point of this is that the building materials industry has only had an expected life of 50years, Does that Mean that structural components will now be able to be depreciated, because the company who made the product, states it's life is that long? With the loss of depreciation ability, are we now able to write off the building component in total when the property is redeveloped? If not why not?
Overall a no balls budget, They may have started to address some of the tax issues, but govt is a 2 way street, where is the abandoment of the ridiculous ministries, the forfeiture of politician gimme's, the quango culling, the limitation in increases in govt expenditure in line with inflation and population?
Bill you fail

Contemplationist said...

John Key really is NZ's Bush.
Next up: Your Obama. Dark days ahead.

twr said...

"John Key really is NZ's Bush."

I'd vote for a Brazilian then.

Greg said...

twr: hahah! Nice one!