Government preparing for third downgrade

21 Oct 2011 10:03a.m.

Kim wrote:

Typical nat/Key tactic..manufacture a crisis (in the media at least) and then key can ride in on his white horse and save us. Same as ACC, Cullen fund, Education etc.

20 Oct 2011 09:39p.m.

mooloo man wrote:

here's a gov't declaring a downgrade before the downgrade,
what does that say, it says they are so screwded up that they think nz'ers don't know what a joke they are.
key is actually serious and moody aren't even making a statement. is that a defeatest or what, the guy has misled parliment and now declares a downgrade that is only in fiction at present. it is laughable come on nz get rid.

20 Oct 2011 07:31p.m.

Seannachie wrote:

A further downgrade by Moody's needs to be seen as a consequence of this governmernts mismanagement of the economy. A $16 billion deficit to fund its tax cuts ,an increase in GST to 15% and its downgrading of wages to Third World levels all adds up to: An Overseas debt of $253 Billion;a 5.7% increase in the cost of living ; Wage increases of only 1.6%; 7% unemployment; a GDP growth rate of less than 0.1%;Household endebtedness of 150% of GDP, increases in ACC levies,motor vehicle registration, Emissions trading and road user charges onto the price of petrol and a 40% decline in retail revenue for businesses. What price National Bankruptcy after power prices rise due to this governments proposed fire sale of power companies if re-elected.

20 Oct 2011 06:53p.m.

Hamish wrote:

@Bee; Yes lots of kiwis have been sucked in, but dont despair at the most National will get 3 more years and then even the slowest will be able to see how selfish and self-serving they are. Their next govt wont be as strong as they think, many people have been pushed to other parties. Even some of the wealthy will figure it out that if you want the economy to grow it needs to grow it from the bottom up, if consumers have no money they cant buy jack. Key and his mates dont care, they make most of their money overseas, they're globalists. In the end NZ business will suffer with the people and Key will be gone.

20 Oct 2011 06:32p.m.

pete wrote:

The report card is not looking great,is it? oh well that's the national standards isn't it!

20 Oct 2011 05:27p.m.

Fellowes wrote:

Don't forget that these are the credit agencies who were giving sub-prime banks triple A ratings before they were bundled up and sold to unsuspecting banks, after which they were immediately downgraded by the same credit agencies. Now wait for the next step - pressure by the US and IMF for NZ to sell its state-owned assets "to help repay our increased debt, caused by the downgrade". Starting to see how it works? And who will buy our SOEs? Why, the same folk behind the banks and the Federal Reserve, etc. See the award-winning documentary Inside Job. It explains how it works.

20 Oct 2011 01:17p.m.

eddie wrote:

@ Bee
"huge weekly borrowing from international banks", labour have stated they would have borrowed more than national, indeed they say $2billion more by 2014!

20 Oct 2011 11:56a.m.

bee wrote:

Those who traditionally vote National, will have deaf ears and blind eyes anyway. It is amazing that despite all the missed targets, mishandling of the funds and deadlines and huge weekly borrowing from international banks, JK is still having the lead on polls! I personally sometimes wonder, do NZers care about the future of this country anymore? The future under National means more debt for the lower income-average income taxpayer, less tax and less living cost for the rich, National assets sold at the loss of the taxpayer, so National gvt can continue borrowing….one must be insane to turn a blind eye to all of that! In the political debates, I hear National supporters repeat a few cliche words in respond to every single question, if that is enough to buy the bunch votes, than all I have to say is ‘bugger’!

20 Oct 2011 11:13a.m.

cherie wrote:

No surprises here Throw the enconmic downturn ending with pike river ch ch earthquakes and now Rena I am actually surprised they didnt drop us futher. Just hang in there we are going to be okay. Govt spending has come back to almost managable levels and will do so more if Nat gets back in. I would like to see less spending in parliment. Lets have fewer MP's. I mean there are so many they dont even all turn up when they are supposed to. Cant have enough work to do.

20 Oct 2011 08:56a.m.

pat wrote:

A third downgrade is a recognition that national has not handled the economy well,the govt points to pike river,ch ch earthquake,there has been some expense for the tax payers here,however most of it is recoverable through insurance and world-wide donations,the build will be paid for by insurances,national has dolled out tax payers funds like their is no tommorrow on causes dear to their national hearts,while they should have been showing some restraint in throwing tax payers money around.
Overseas govt always focus on taking money off average workers,cutting jobs etc,when politicians do not loose a dime,this can be seen in nz also,if it cost the tax payer $9000 a minute to keep those in govt a few years ago,imagine the cost now,politicians who created the situation must be seen to take a cut in income and allowances et, this is fair and expected, NZ cannot afford
English still recieving $900pw accomodatio allowance,the politicians that left get a tax payer benefit for life coupled with allowances,past politicians also are suppoted by the tax payers and this just can not continue and urgent assesment by an independant investigation into parliamentry
allowances and perks,and a freeze on pay,if the average NZ workers are expected to take a hit then so too do politicians.
The arm that is going to decide politicians incomes and allowances just announced by govt are the same group that dole out increases backdated months and paid out at christmas,this practice just can not continue when the tax payers that fund these lolly scrambles are out of work and are suffering because of government greed and incompetncy.