RELATED LINKS:
For the full text of the budget see... http://www.treasury.govt.nz/budget/2010
TREASURY BUDGET 2010 WEBSITE [1]
See also the http://www.beehive.govt.nz/feature/budget2010
BEEHIVE BUDGET PAGE [2] and http://www.taxguide.govt.nz/
TAXGUIDE.GOVT.NZ - Will include tax calculator [3]

[1] - http://www.treasury.govt.nz/budget/2010
[2] - http://www.beehive.govt.nz/feature/budget2010
[3] - http://www.taxguide.govt.nz/

BUDGET 2010 - REPORTAGE & COMMENTARY

Scoop Business: Finely Balanced Tax Package Depends On Growth

Personal and company tax cuts announced in the Budget today will cost more than the GST increase and clampdowns on tax dodges until 2013/14, and will only ever be fiscally neutral as long as the economy grows as strongly as the Treasury forecasts. More>> http://business.scoop.co.nz/2010/05/20/finely-balanced-tax-package-depends-on-growth/ [1]

[1] - http://business.scoop.co.nz/2010/05/20/finely-balanced-tax-package-depends-on-growth/

MORE BUDGET COVERAGE FROM BUSINESSWIRE:

• Scoop Business - Recovery gives NZ tailwind to rebalance economy [1]
• Scoop Business - Biggest tax package in a generation [2]
• Scoop Business - Depreciation write-offs: here today, gone tomorrow [3]
• Scoop Business - Govt closes loophole and aligns LAQC tax rates [4]
• Scoop Business - Tax on savings vehicles cut to 28% [5]
• Scoop Business - NZ budget won’t undermine credit rating: S&P [6]
• Scoop Business - NZ trims debt sales plan as fiscal outlook lifts [7]
• Scoop Business - Indexation loss tightens screws on WFF [8]

[1] - http://business.scoop.co.nz/2010/05/20/recovery-gives-nz-tailwind-to-rebalance-economy/
[2] - http://business.scoop.co.nz/2010/05/20/biggest-tax-package-in-a-generation/
[3] - http://business.scoop.co.nz/2010/05/20/depreciation-write-offs-here-today-gone-tomorrow/
[4] - http://business.scoop.co.nz/2010/05/20/govt-closes-loophole-and-aligns-laqc-tax-rates/
[5] - http://business.scoop.co.nz/2010/05/20/tax-on-savings-vehicles-cut-to-28/
[6] - http://business.scoop.co.nz/2010/05/20/nz-budget-wont-undermine-credit-rating-sp/
[7] - http://business.scoop.co.nz/2010/05/20/nz-trims-debt-sales-plan-as-fiscal-outlook-lifts/
[8] - http://business.scoop.co.nz/2010/05/20/indexation-loss-tightens-screws-on-wff/

Sludge Report #192: The Naked Budget

Finance Minister Bill English's second budget is an exercise in minimalism in everything but tax. And in that respect the changes announced today have been so well flagged that there is little news today besides the sweeping income tax cuts which will take effect from 1 October. Tax cuts for all! More>> [1]

[1] - http://www.scoop.co.nz/stories/HL1005/S00161.htm

Trans Tasman: Budget Special 2010

In the biggest reform of the NZ tax system in 25 years, Bill English has cut income tax rates, raised GST to 15%, and cut company tax to 28%. Kiwis on the average wage will be about $15 a week better off , and an average family about $25 a week better off. More>> [1]

[1] - http://transtasman.co.nz/home/free-articles/budget-special-2010.html

The Weekly Coitus Link: Rich Get Vital "Hand Up" In Budget

Many financially well-off New Zealanders struggling to pay for expensive new shit will soon have crucial assistance from the National government's drastic tax cuts. More>> [1]

[1] - http://weeklycoitus.co.nz/?p=1259

BLOG LINKS

• Public Address Out-Link - OnPoint: Budget 2010: What'd you expect? [1]
• No Right Turn Out-Link - Who benefits from National's tax cuts? [2]

[1] - http://publicaddress.net/6629#post6629
[2] - http://norightturn.blogspot.com/2010/05/who-benefits-from-nationals-tax-cuts.html

BUDGET 2010 - THE REACTION - FULL COVERAGE

BUDGET DEBATE SPEECHES - AS PREPARED

• Greens - Dr Russel Norman: Budget Speech [1]
• Maori Party - Budget 2010 - Maori Party [2]
• Progressive Party - Let Them Eat Cake! [3]
• ACT - Hon Rodney Hide, ACT Leader,Budget Speech 2010 [4]

[1] - http://www.scoop.co.nz/stories/PA1005/S00325.htm
[2] - http://www.scoop.co.nz/stories/PA1005/S00330.htm
[3] - http://www.scoop.co.nz/stories/PA1005/S00333.htm
[4] - http://www.scoop.co.nz/stories/PA1005/S00335.htm

PARLIAMENTARY REACTION

Labour

• Labour - John Key's tax swindle [1]
• Labour - Tax swindle Budget a backwards step [2]

[1] - http://www.scoop.co.nz/stories/PA1005/S00337.htm
[2] - http://www.scoop.co.nz/stories/PA1005/S00340.htm

Progressive Party

• Progressive Party - Let Them Eat Cake! [1]

[1] - http://www.scoop.co.nz/stories/PA1005/S00329.htm

Greens

• Greens - Key's triple deficit Budget [1]
• Greens - Essentially a cut for tertiary education [2]

[1] - http://www.scoop.co.nz/stories/PA1005/S00323.htm
[2] - http://www.scoop.co.nz/stories/PA1005/S00339.htm

The Maori Party

• Maori Party - Just the beginning - here for the long term [1]
• Maori Party - $100 million: Support to live their own lives [2]
• Maori Party - $9 million: Support for Maori business [3]
• Maori Party - $19.8 million: Restorative approach to offending [4]
• NZ Govt - Tariana Turia - Human Rights Commission [5]

[1] - http://www.scoop.co.nz/stories/PA1005/S00318.htm
[2] - http://www.scoop.co.nz/stories/PA1005/S00319.htm
[3] - http://www.scoop.co.nz/stories/PA1005/S00322.htm
[4] - http://www.scoop.co.nz/stories/PA1005/S00321.htm
[5] - http://www.scoop.co.nz/stories/PA1005/S00338.htm

ACT

• ACT - GST Increase Unnecessary [1]
• ACT - Tax Rates: Must Try Harder [2]
• ACT - Debt Problems on Horizon [3]

[1] - http://www.scoop.co.nz/stories/PA1005/S00324.htm
[2] - http://www.scoop.co.nz/stories/PA1005/S00328.htm
[3] - http://www.scoop.co.nz/stories/PA1005/S00331.htm

United Future

[1] - http://www.scoop.co.nz/stories/PA1005/S00336.htm

************

Non Parliamentary Political Reaction:

• NZ Alliance Party - National's budget "blueprint for social breakdown" [1]
• Socialist Worker - Tax justice campaign launched nationwide [2]
• Family First - ETS Will Cancel Benefit of Budget to Families [3]
• The Kiwi Party - GST Increase Disastrous for First Home Buyers [4]

[1] - http://www.scoop.co.nz/stories/PO1005/S00209.htm
[2] - http://www.scoop.co.nz/stories/PO1005/S00213.htm
[3] - http://www.scoop.co.nz/stories/PO1005/S00216.htm
[4] - http://www.scoop.co.nz/stories/PO1005/S00218.htm

Health Sector Reaction:

• NZ Medical Association - Budget a Mixed Bag - NZMA [1]
• Medical Technology Association of NZ - Squeezing the health dollar need not hurt patients [2]

[1] - http://www.scoop.co.nz/stories/GE1005/S00105.htm
[2] - http://www.scoop.co.nz/stories/GE1005/S00106.htm

Education Sector Reaction:

• Tertiary Education Union - Austere Budget Limits Student Learning Potential [1]
• Auckland University Students Association - Fee changes see Auckland students worse off [2]
• NZEI - Budget Launches Attack on Quality Teaching [3]
• NZ Union of Students' Associations - Lost opportunity for a real ‘stepchange’ [4]
• NZ Childcare Association - ECE budget brutal blow to children and families [5]
• Industry Training Federation of NZ - Budget shows commitment to training [6]

[1] - http://www.scoop.co.nz/stories/ED1005/S00082.htm
[2] - http://www.scoop.co.nz/stories/ED1005/S00083.htm
[3] - http://www.scoop.co.nz/stories/ED1005/S00084.htm
[4] - http://www.scoop.co.nz/stories/ED1005/S00085.htm
[5] - http://www.scoop.co.nz/stories/ED1005/S00086.htm
[6] - http://www.scoop.co.nz/stories/ED1005/S00087.htm

Union Reaction:

• CTU - Tax cuts won't lessen lure of Australia [1]
• Maritime Union of NZ - National budget an attack on working class [2]
• Finsec - Budget Takes From The Poor - Gives To The Rich [3]
• CTU - Budget fundamentally unfair [4]

[1] - http://www.scoop.co.nz/stories/PO1005/S00206.htm
[2] - http://www.scoop.co.nz/stories/PO1005/S00207.htm
[3] - http://www.scoop.co.nz/stories/PO1005/S00214.htm
[4] - http://www.scoop.co.nz/stories/PO1005/S00219.htm

Business Sector Reaction:

• Food and Grocery Council - Food and grocery sector welcomes Budget [1]
• Auckland Chamber of Commerce - Tax Changes Increase Choice [2]
• Milestone Homes - Budget comment [3]
• Newmarket Business Association - Timing of GST increase “bad” says poll of retailer [4]
• Community Gaming Association - Increase in GST means less available for community [5]
• Employers And Manufacturers Association - Fairest Budget for many years [6]
• Deloitte - Four months not long to prepare for GST rate rise [7]
• Wellington Regional Chamber of Commerce - Budget Delivers a Framework for Growth [8]
• KPMG - Less Dollars and More Sense Good for New Zealand [9]
• Jennian Homes - Budget comment: Richard Carver [10]
• Business NZ - Budget move towards higher-earning economy [11]
• Auckland Chamber of Commerce - Property Tax Change Behaviour [12]
• Chapman Tripp - Casey Plunket: Government delivers a bold budget [13]
• Institute of Chartered Accountants - The “Back to the Past” Budget [14]
• KPMG - GST hike rushed [15]
• Deloitte - Focusing on growth only way to deal with dead rats [16]
• Industry Training Federation of NZ - Budget shows commitment to training [17]
• Meat And Wool NZ - R&D investment driving sector gains [18]
• NZ Business Roundtable - Sound Steps But No Step Change in Budget [19]
• Tourism Industry Association - GST creates challenges for tourism operators [20]
• Real Estate Institute Of NZ - Tax Changes will have limited impact on property [21]
• KPMG - R&D grants for business – a new direction [22]

[1] - http://www.scoop.co.nz/stories/PO1005/S00205.htm
[2] - http://www.scoop.co.nz/stories/BU1005/S00626.htm
[3] - http://www.scoop.co.nz/stories/BU1005/S00628.htm
[4] - http://www.scoop.co.nz/stories/BU1005/S00629.htm
[5] - http://www.scoop.co.nz/stories/BU1005/S00630.htm
[6] - http://www.scoop.co.nz/stories/BU1005/S00631.htm
[7] - http://www.scoop.co.nz/stories/BU1005/S00632.htm
[8] - http://www.scoop.co.nz/stories/BU1005/S00633.htm
[9] - http://www.scoop.co.nz/stories/BU1005/S00634.htm
[10] - http://www.scoop.co.nz/stories/PO1005/S00208.htm
[11] - http://www.scoop.co.nz/stories/PO1005/S00210.htm
[12] - http://www.scoop.co.nz/stories/PO1005/S00212.htm
[13] - http://www.scoop.co.nz/stories/BU1005/S00635.htm
[14] - http://www.scoop.co.nz/stories/BU1005/S00637.htm
[15] - http://www.scoop.co.nz/stories/BU1005/S00638.htm
[16] - http://www.scoop.co.nz/stories/PO1005/S00215.htm
[17] - http://www.scoop.co.nz/stories/ED1005/S00087.htm
[18] - http://www.scoop.co.nz/stories/BU1005/S00639.htm
[19] - http://www.scoop.co.nz/stories/BU1005/S00640.htm
[20] - http://www.scoop.co.nz/stories/BU1005/S00641.htm
[21] - http://www.scoop.co.nz/stories/BU1005/S00642.htm
[22] - http://www.scoop.co.nz/stories/BU1005/S00643.htm

Other Reaction

• Greenpeace NZ - Greenpeace Budget Response [1]
• Retirement Commissioner - Making the most out of Budget 2010 [2]

[1] - http://www.scoop.co.nz/stories/PO1005/S00211.htm
[2] - http://www.scoop.co.nz/stories/PO1005/S00217.htm

BUDGET 2010 - THE PRESS KIT

Budget 2010: Govt's Budget Summary

- Delivers the biggest reform of the New Zealand tax system for nearly 25 years, typically leaving someone on the average wage about $15 a week better off and an average family about $25 a week better off.
- Strongly supports research, science and technology - a key engine for a faster growing economy - with $321 million over four years.
- Provides an extra $2.1 billion for frontline health priorities over the next four years - including an extra $512 million in 2010/11.
- Invests an extra $1.4 billion into better schooling and early childhood education over four years - including an extra $417 million in 2010/11.
- Takes more steps to control rising debt and returns the Government to surplus by 2016 - three years sooner than in Budget 2009. More>> [1]

ALSO:

• NZ Govt - 2010 Budget Fact Sheets [2]

[1] - http://www.scoop.co.nz/stories/PA1005/S00286.htm
[2] - http://www.scoop.co.nz/stories/PA1005/S00320.htm

Economy

• NZ Govt - Key: Budget 2010 about opportunity for Kiwis [1]
• NZ Govt - Tax cuts strengthen economy and help families [2]
• NZ Govt - Property tax changes increase fairness [3]
• NZ Govt - Budget builds on recovery, helps families [4]
• NZ Govt - Budget frees up $1.8 billion for higher priorities [5]
• NZ Govt - Budget prioritises primary sector investment [6]
• NZ Govt - Multi-billion dollar investment in infrastructure [7]
• NZ Govt - Funding confirmed for Productivity Commission [8]

[1] - http://www.scoop.co.nz/stories/PA1005/S00291.htm
[2] - http://www.scoop.co.nz/stories/PA1005/S00289.htm
[3] - http://www.scoop.co.nz/stories/PA1005/S00290.htm
[4] - http://www.scoop.co.nz/stories/PA1005/S00288.htm
[5] - http://www.scoop.co.nz/stories/PA1005/S00296.htm
[6] - http://www.scoop.co.nz/stories/PA1005/S00297.htm
[7] - http://www.scoop.co.nz/stories/PA1005/S00298.htm
[8] - http://www.scoop.co.nz/stories/PA1005/S00287.htm

Education

• NZ Govt - Schools get extra $156m over next four years [1]
• NZ Govt - Extra ECE spending, targeting families in need [2]
• NZ Govt - Extra ECE spending, targeting families in need [3]
• NZ Govt - More tertiary student places, focus on success [4]
• NZ Govt - Student support reforms will boost performance [5]

[1] - http://www.scoop.co.nz/stories/PA1005/S00303.htm
[2] - http://www.scoop.co.nz/stories/PA1005/S00292.htm
[3] - http://www.scoop.co.nz/stories/PA1005/S00292.htm
[4] - http://www.scoop.co.nz/stories/PA1005/S00310.htm
[5] - http://www.scoop.co.nz/stories/PA1005/S00311.htm

Welfare

• NZ Govt - Extra ECE spending, targeting families in need [1]
• NZ Govt - Job Ops and Employment Assistance extended [2]
• NZ Govt - New $90.5m fund for social sector transformation [3]
• NZ Govt - Student support reforms will boost performance [4]

[1] - http://www.scoop.co.nz/stories/PA1005/S00292.htm
[2] - http://www.scoop.co.nz/stories/PA1005/S00295.htm
[3] - http://www.scoop.co.nz/stories/PA1005/S00314.htm
[4] - http://www.scoop.co.nz/stories/PA1005/S00311.htm

Health

• NZ Govt - Budget delivers over $2 billion extra for health [1]
• NZ Govt - $93 million more for disability support services [2]
• NZ Govt - $24 million for Capital and Coast DHB in Budget [3]
• NZ Govt - $11 million for Hutt Valley DHB in Budget 2010 [4]

[1] - http://www.scoop.co.nz/stories/PA1005/S00302.htm
[2] - http://www.scoop.co.nz/stories/PA1005/S00304.htm
[3] - http://www.scoop.co.nz/stories/PA1005/S00327.htm
[4] - http://www.scoop.co.nz/stories/PA1005/S00326.htm

Housing

• NZ Govt - Property tax changes increase fairness [1]
• NZ Govt - Hot demand for Government insulation scheme [2]
• NZ Govt - Government extends community housing fund [3]

[1] - http://www.scoop.co.nz/stories/PA1005/S00290.htm
[2] - http://www.scoop.co.nz/stories/PA1005/S00300.htm
[3] - http://www.scoop.co.nz/stories/PA1005/S00315.htm

Law, Order & Security

• NZ Govt - Govt honours commitment to fund extra Police [1]
• NZ Govt - More Budget funding for community law centres [2]
• NZ Govt - An extra $35 million a year for new Defence costs [3]
• NZ Govt - Whare Oranga Ake will help cut reoffending [4]
• NZ Govt - New border management system, better security [5]

[1] - http://www.scoop.co.nz/stories/PA1005/S00293.htm
[2] - http://www.scoop.co.nz/stories/PA1005/S00301.htm
[3] - http://www.scoop.co.nz/stories/PA1005/S00309.htm
[4] - http://www.scoop.co.nz/stories/PA1005/S00307.htm
[5] - http://www.scoop.co.nz/stories/PA1005/S00317.htm

Research, Growth And Innovation Framework

• NZ Govt - Budget supports Mâori business and innovation [1]
• NZ Govt - Boost for science to help faster economic growth [2]
• NZ Govt - Budget funds fast broadband for faster growth [3]

[1] - http://www.scoop.co.nz/stories/PA1005/S00305.htm
[2] - http://www.scoop.co.nz/stories/PA1005/S00308.htm
[3] - http://www.scoop.co.nz/stories/PA1005/S00312.htm

Art, Culture And Sport

• NZ Govt - DoC to develop cycleways and camp grounds [1]

[1] - http://www.scoop.co.nz/stories/PA1005/S00316.htm

Other Stuff - Maori, State Sector, Local Govt

• NZ Govt - Budget supports Mâori business and innovation [1]
• NZ Govt - More Budget funding for community law centres [2]
• NZ Govt - Whare Oranga Ake will help cut reoffending [3]
• NZ Govt - Extra funding to reach Treaty settlement goal [4]
• NZ Govt - Economic development boost for Pacific people [5]

[1] - http://www.scoop.co.nz/stories/PA1005/S00305.htm
[2] - http://www.scoop.co.nz/stories/PA1005/S00301.htm
[3] - http://www.scoop.co.nz/stories/PA1005/S00307.htm
[4] - http://www.scoop.co.nz/stories/PA1005/S00306.htm
[5] - http://www.scoop.co.nz/stories/PA1005/S00313.htm

ENDS

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