Budget 2010 Daily News Alert - Sat, May 15, 2010

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SMELLIE SNIFFS THE BREEZE: Here comes the recovery
May 14 (BusinessWire) – Remember where you heard it first. (Which I admit may not have been here). The recovery is on the way. Economic, that is. “Texas T,” if you’re old enough to get that Beverly Hillbillies reference, and to realise that Energy and Resources Minister Gerry Brownlee understands you only get rich fast once, but why not now with the minerals that New Zealand clearly possesses? Let the hard work follow.
MORE >> http://business.scoop.co.nz/2010/05/14/smellie-sniffs-the-breeze-here-comes-the-recovery

Budget caution slows house sales in April: REINZ
May 14 (BusinessWire) – Residential real estate sales fell 15% in April as the housing market remains subdued with the government’s upcoming budget expected to bring in tax changes for property investors, according to the latest Real Estate Institute of New Zealand data.
MORE >> http://business.scoop.co.nz/2010/05/14/budget-caution-slows-house-sales-in-april-reinz/

International Turmoils Gives English A Fiscal Break
The international turmoil triggered by Greece’s debt crisis has, in a sense, made Finance Minister Bill English’s task easier. The Govt has already proved its fiscal rectitude, and it won’t be under the kind of scrutiny from ratings agencies which is provoking nervousness in global markets about the sovereign debt of many European countries, even the UK.
MORE>> http://transtasman.co.nz/home/free-articles/international-turmoils-gives-english-a-fiscal-break.html

Budget Will Be A Litmus Test Of Government’s Commitment
Budget 2010 will be a real litmus test of the Govt’s commitment to use the tax system to achieve some of its transformational objectives. While it is clear GST will rise to 15% (probably from October 1) and depreciation on buildings will either be denied or significantly curtailed, again from October 1, the unknown issue is how far the Govt is willing to run with the substantive structural reforms recommended by the Tax Working Group.
MORE>> http://transtasman.co.nz/home/free-articles/budget-will-be-a-litmus-test-of-governments-commitment.html

Closing Tax Loopholes Essential Element Of Reform
Another salient issue is how Bill English will deliver on his undertaking to align taxation income more closely with economic income, and on the extent loopholes such as the inability to look through trusts in determining eligibility for Working for Families and other benefits will be addressed.
MORE>> http://transtasman.co.nz/home/free-articles/closing-tax-loopholes-essential-element-of-reform.html

Television New Zealand - On Q + A This Sunday
As Budget week begins Q+A takes a close look at Labour’s fresh economic ideas and asks whether
MORE >> http://scoop.co.nz/stories/PO1005/S00143.htm

New Zealand Government - One million dollar fund for Māra Kai
Māori communities ‘really dig’ mara kai, so the Māori Affairs Minister has alllocated another half million dollars to extend the scheme.
MORE >> http://scoop.co.nz/stories/PA1005/S00221.htm

Green Party - Idiotic subsidies must be transparent in Budget
Taxpayer subsidies to big greenhouse gas emitters must, at the very least, be made transparent in the upcoming Budget, the Green Party said today.
MORE >> http://scoop.co.nz/stories/PA1005/S00215.htm

National Maori Tertiary Students Association - Maori students' entry into universities uncertain
Māori students slam the decisions of Otago and Victoria Universities to close their doors to undergraduates for the rest of the year.
MORE >> http://scoop.co.nz/stories/ED1005/S00051.htm

New Zealand Labour Party - National’s ETS will cost taxpayers dear
It is becoming clearer by the day that National's changes to the Emissions Trading Scheme are unaffordable, ineffective and unsustainable, says Labour's Climate Change Issues spokesperson Charles Chauvel.
MORE >> http://scoop.co.nz/stories/PA1005/S00213.htm

Wellington Regional Chamber of Commerce - Wellington Chamber Welcomes Govt Tourism Budget
The Wellington Regional Chamber of Commerce has welcomed the funding boost for tourism,
which is to be provided for in next week’s budget, and urged the Wellington tourism
sector to take advantage of the increased expenditure to attract more international ...
MORE >> http://scoop.co.nz/stories/BU1005/S00438.htm

Tourism Industry Association - $30m vote of confidence in tourism industry
The Tourism Industry Association New Zealand (TIA) says the $30 million injection
of new funding for tourism marketing is a real vote of confidence in the future of
New Zealand tourism.
MORE >> http://scoop.co.nz/stories/BU1005/S00404.htm

Forest And Bird - Key’s funding contradiction highlighted
Independent conservation organisation Forest & Bird believes Prime Minister John
Key should match the funding boost to the tourism industry with better protection
of the stunning natural landscapes tourists come to see.
MORE >> http://scoop.co.nz/stories/PO1005/S00123.htm

New Zealand Labour Party - Tourism funding needs to play more to our strength
Labour’s spokesperson for Tourism, Kelvin Davis, welcomed the announcement that
the tourism industry will receive $30 million in new funding for 2010/11 in next
week's Budget, but said this funding fell short of what the industry expected.
MORE >> http://scoop.co.nz/stories/PA1005/S00198.htm

ENDS

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