Budget 2010 Daily News Alert - Wed, May 19, 2010

In This Edition: (One day till budget) RBNZ cautions on financial stability, dollar falls & a bevy of budget previews, ACT's wish list and critiques

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Europe debt woes loom over NZ financial stability
May 19 (BusinessWire) – Reserve Bank Governor Alan Bollard says Europe’s debt crisis looms over New Zealand’s financial stability, which has benefited from the sharp recovery in Australia and emerging Asian economies.
MORE >> http://business.scoop.co.nz/2010/05/19/europe-debt-woes-loom-over-nz-financial-stability/

NZ dollar drops below 69 cents after RBNZ report
May 19 (BusinessWire) – The New Zealand dollar dropped below 69 U.S. cents for the first time since early March after Reserve Bank Governor Alan Bollard flagged the risks of contagion from Europe’s debt crisis and reiterated his view that a low kiwi was desirable.
MORE >> http://business.scoop.co.nz/2010/05/19/nz-dollar-drops-below-69-cents-after-rbnz-report/

NZ Rail: KiwiRail Wins Govt Commitment To $750 Million
KiwiRail has concrete acknowledgement from the Govt it is part of the nation’s transport future and needs funding support to bring its network up to scratch and lift freight volumes. The Govt has agreed in principle to fund the railway at $750m over three years starting with $250m in this year’s budget.
MORE >> http://www.nztransport-logistics.co.nz/home/free-articles/nz-rail-kiwirail-wins-govt-commitment-to-750-million.html

NZ Research Funding: Rural Services Companies Will Vie For R&D Grants
Rural researchers are upbeat about the message the Govt is sending about the place of Researcg & Development as an economic tool to create growth. This is even though the technology grants aren’t aimed specifically at agriculture.
MORE >> http://www.nzagri-business.co.nz/home/free-articles/nz-research-funding-rural-services-companies-will-vie-for-rd-grants.html

NZ Research: Business Supportive of Govt R&D Focus
Prime Minister John Key’s announcement science and innovation will be at the heart of next week’s Budget is a positive step forward, say business and manufacturing industry leaders, but the biggest challenge will be commercialising the research for the benefit of New Zealand.
MORE >> http://www.themainreport.co.nz/home/free-articles/nz-research-business-supportive-of-govt-rd-focus.html

Lyndon Hood - Scoop Satire: Sweeping Taxonomy Changes For Budget
What may have begun as a typographic error has been embraced by the Government, with the budget tipped to see a sweeping "rebalancing" of the taxonomy system.
MORE >> http://scoop.co.nz/stories/HL1005/S00152.htm

Public Service Association - ACT's vision for of future is a nightmare for NZ
ACT's 'Budget 2010: Combating Government Waste' document paints a barren vision of New Zealand. It sees no need to support a sustainable land management programme, research into bio-security or advice on climate change despite the country's reliance ...
MORE >> http://scoop.co.nz/stories/PO1005/S00193.htm

Bizzone Business Expo - Budget comments re SME sector
As New Zealand's largest event for business, the Bizzone Business Expo prepares to open, (2-4June) organiser Sarah Trotman, champion of SMEs, says she believes most of the 13,000 business owners expected at the event will be hoping for company tax ...
MORE >> http://scoop.co.nz/stories/BU1005/S00587.htm

Green Party - Borrowing for tax cuts irresponsible, unfair
Borrowing to fund tax cuts for the wealthy, new motorways, and subsidies for greenhouse polluters is fiscally irresponsible, the Green Party said today.
MORE >> http://scoop.co.nz/stories/PA1005/S00265.htm

Auckland City Council - Council well placed to fund leaky home repairs
Auckland City Council is in a financially sound position to meet its share of the financial assistance package for owners of leaky homes, announced this week by the Government.
MORE >> http://scoop.co.nz/stories/PO1005/S00187.htm

Canterbury Regional Alliance Council - Time To Take Action Against GST On Food
A spectre is haunting ordinary working people on Budget Day - the spectre of increased taxation to help pay for tax cuts for the wealthy
MORE >> http://scoop.co.nz/stories/PO1005/S00183.htm

Office of the Clerk - Questions and Answers - 18 May 2010
Prime Minister - Statements; Economy - Rebalancing Progress; ACC, Minister - Recent Statements; Te Urewera National Park - Proposal to Vest Ownership in TÅ«hoe; Leaky Homes - Financial Assistance
MORE >> http://scoop.co.nz/stories/PA1005/S00262.htm

ACT New Zealand - Budget 2010: Combating Government Waste
ACT New Zealand Finance Spokesman Sir Roger Douglas today released a discussion document - 'Budget 2010: Combating Government Waste' - which highlights the level of wasteful Government expenditure, and advocates for tax cuts to alter the incentives ...
MORE >> http://scoop.co.nz/stories/PA1005/S00261.htm

Institutes of Technology and Polytechnics NZ - ITPs prepared for budget cuts
New Zealand's polytechnics and institutes of technology are preparing to cope with substantial cuts in funding expected to be announced in this week's Budget, NZ ITP Chairman James Buwalda says.
MORE >> http://scoop.co.nz/stories/ED1005/S00075.htm

ENDS

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