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Budget 2016 - Scoop Full Coverage

Thursday, 26 May 2016, 11:32 am
Article: The Scoop Team

Budget 2016 - Scoop Full Coverage

Parliament Live - LIVE Video Of Budget 2016 from 2pm

The 2016 New Zealand Budget will be delivered on Thursday 25 May.

Scoop will be updating this page with Budget announcements, reaction and analysis once the Budget is released at 2pm. Hit reload to see the latest version.

CLICK TO JUMP TO SCOOP BUDGET COMMENTARY AND REPORTS
CLICK TO JUMP TO THE BUDGET PRESS RELEASES & LOCKUP VIDEO
CLICK TO JUMP TO BUDGET REACTION
CLICK TO JUMP TO BUDGET PREVIEWS

For the latest headlines and reaction see..
PARLIAMENT WIRE..., POLITICS WIRE..., BUSINESS WIRE..., EDUCATION WIRE..., HEALTH WIRE...

RELATED LINKS:
For the full text (when released) of the budget see...
TREASURY BUDGET 2016 WEBSITE
See also the BEEHIVE BUDGET PAGE

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For previous budgets see...
BUDGET 2015 - BUDGET 2014 - BUDGET 2013 - BUDGET 2012 - BUDGET 2011 - BUDGET 2010 - BUDGET 2009 - BUDGET 2008 - BUDGET 2007 - BUDGET 2007 - BUDGET 2006 - BUDGET 2005 - BUDGET 2004 - BUDGET 2003 - BUDGET 2002 - BUDGET 2001 & BUDGET 2000

BUDGET 2016 - SCOOP COMMENTARY / REPORTS

For The Birds: Gordon Campbell On Yesterday’s Budget

Budgies, so their Wikipedia page says, are popular pets around the world due to their small size, low cost, and ability to mimic human speech. Which is a reasonably good description of Finance Minister Bill English eighth Budget. Especially when it comes to the mimicry bit about providing an adequate response to this country’s social and developmental needs.

In reality, the $1.6 billion of new investment will be spread desperately thinly, and targeted to virtual extinction. This modest amount will be dwarfed by the $2-3 billion programme of tax cuts that the Prime Minister is mooting for election year 2017. On past performance, those tax cuts will be frittered away on consumer spending…. and will only heighten the income inequality exacerbating the social problems that this Budget deliberately fails to address. More>>

Max Rashbrooke On The 2016 Budget

The best label for this year’s announcement by Bill English might be the ‘Bare Minimum Budget’. It does the bare minimum to defuse potential political damage in a range of areas – homelessness and health are prime among them – but almost nothing to address the country’s most deep-rooted, systemic social problems. Indeed the Budget hints that these problems may get worse. More>>

Max Rashbrooke: A Failure Of Measurement: Inside The Budget Lock-Up

Shortly after the embargo lifted at 2pm news organisations started filing reports claiming that health, and to a lesser extent housing and education, were the ‘big winners’ out of the Budget. It failed to take into account the fact that in most cases the apparent increases were in fact cuts. Because of the twin effects of inflation and population. More>>

Professor Ian Shirley: The Budget That Failed Auckland

The 2016 budget offered Auckland nothing in the way of vision or hope and it continued the National Government’s threats against the Auckland Council. Threatening the Council with over-riding its democratic processes if it fails to release land for housing is a bullying tactic aimed at diverting attention away from the fundamental problems with housing in the region. More>>

ALSO:

BusinessDesk Coverage

Population-Driven GDP Growth

Jonathan Underhill: Finance Minister Bill English has unveiled a rosier set of fiscal projections as the fastest population growth in 40 years drives economic growth and tax revenue, giving him room to spend more on health, law and order, and education while forecasting fatter surpluses. More>>

More From BusinessDesk:

Parliament Today Coverage

BUDGET 2016 - POST BUDGET DAY DEVELOPMENTS

Budget Building Battle: Bill English Blames Council On Housing

The Nation: Finance Minister blames Auckland Council for housing shortage, saying it is responsible for land, housing and infrastructure supply in the city, while government provides rental subsidies.

“It is the council's responsibility. That's the deal…”

Also blames Auckland Council for growing homelessness. More>>

ALSO:

DOCtored Figures: Minister Clarifies DOC Budget

“Commentators have overlooked the fact $20.7m of that perceived shortfall is new funding for Battle for our Birds 2016, provided for in last week’s Budget...” DOC also has approval in principle to carry over a further $20m to 16/17 due to unexpected delays in a number of projects. More>>

ALSO:

PM's Post Cab Presser 30/5/16: Budgets, Trusts And Pacific Diplomacy

Today Prime Minister John Key summarised last week’s budget and provided further detail about his upcoming trip to Fiji. He said that there has been “plenty going on” in the last couple of weeks and emphasised the need for Auckland council to facilitate more housing supply. More>>

BUDGET 2016 - THE REACTION - FULL COVERAGE

From Parliament:

Government/National

Labour

Greens

NZ First

The Maori Party

ACT

United Future

Non-Parliamentary Political Reaction:

Health Sector Reaction:

Education Sector Reaction:

Science and Tech Sector Reaction:

Union Reaction:

Welfare/Poverty Sector Reaction

Finance, Tax & Analysis:

Business Reaction

Environment

Other Reaction

BUDGET 2016 - THE PRESS KIT
(Note see also pre-budget announcements below)


Scoop Video: Inside The Budget 2014 Lockup

The Budget Speech

Summaries

UPDATE 14/7/16: Budget 2016 Information Release

English On The Budget: Investing In A Growing Economy

Budget 2016 invests in a growing economy with significant new funding for innovation, infrastructure, the health sector and the most vulnerable New Zealanders while still managing the finances tightly and repaying debt, Finance Minister Bill English says. More>>

ALSO:

Fact Sheets

Infrastructure & Economy

Maori

Education

Welfare

Health

Housing

Law, Order, Defence & Security

Art, Culture And Sport

Trade and Foreign Affairs

Canterbury Rebuild

Environment

Other Stuff

BUDGET 2016 PREVIEWS & REACTION

Budget Day: Two “incidents” Outside Parliament; Man Arrested, Area Cordoned Off

A man was taken into custody after an incident on Parliament grounds this morning. And this afternoon police were called to a second incident near the rear of Parliament. More>>

Government Pre-Budget Announcements:

Other Parties' Wish Lists:

Elsewhere:

Economic Omens: Fonterra's 2017 Opening Forecast Below Expectations

Fonterra Cooperative Group raised its forecast farmgate milk payout for next season by less than expected as the world's largest dairy exporter predicts lower prices will crimp production and supply will pick up. The New Zealand dollar fell. More>>

ALSO:

Budget: Health Funding Must Keep Up With Need

NZNO: “The nursing team has been doing more with less for years. It’s getting to the point that we’re really worried about our colleagues, our patients, our jobs and the level of health care available for people in our country." More>>

ALSO:

Pre-Budget: Debt Focus Risks Losing Opportunity To Stoke Economy

The Treasury is likely to upgrade its forecasts for economic growth in Budget 2016 next week but Finance Minister Bill English has already signalled that more of his focus is on debt repayment than on fiscal stimulus or tax cuts... More>>

ALSO:

Budget 2016: More Partnership Schools To Open

Seven new schools will join the eight Partnership Schools already open, along with further new schools opening in 2017. “The growth of this policy is a reflection of the high level of interest from educators and community leaders,” Mr Seymour says. More>>

ALSO:

Houses And Taxes: Post-Cabinet, Pre-Budget Press Conference

The Prime Minister said that the pre-budget announcements showed that his Government is “investing in a growing economy”. He re-affirmed the National Government’s commitment to lowering personal tax rates but that any such change must fit with the fiscal reality of the time. More>>

ALSO:

Budget: English Takes Election Year Tax Cuts Off The Table
In his traditional pre-Budget speech to the Wellington Chamber of Commerce, English said the government would prioritise repaying government debt over new spending and tax cuts in the next five years.In his traditional pre-Budget speech to the Wellington Chamber of Commerce, English said the government would prioritise repaying government debt over new spending and tax cuts in the next five years. More>>

ALSO:

BUT:

Budget 2016: 3000 Emergency Housing Places Funded
For the first time, the Government will pay for about 3000 emergency housing places across the country per year so people have access to a roof over their head when they need it most. More>>

ALSO:

Crown Accounts: NZ Govt Posts Surprise Budget Surplus In First 9 Months
The New Zealand government posted a budget surplus in the first nine months of the financial year, against a Treasury forecast for a deficit, reflecting tax revenue that rose faster than Crown expenses. More>>

ALSO:

Budget 2016: Battle For Our Birds Catches $20.7Mil
The largest pest control operation in New Zealand’s history will be launched this winter in response to a pest plague which threatens vulnerable native wildlife, Conservation Minister Maggie Barry says. More>>

ALSO:

Gordon Campbell: On Pharmac’s Grudging Concession To Reality
Is this any way to run a health system… whereby terminally ill patients are forced into public demonstrations before the government (and its funding agency Pharmac) will grudgingly provide the money for life-saving treatments freely available and publically funded in Australia for the best part of a year? More>>

ALSO:

Pre-Budget: Computer Emergency Response Team, Assemble!
John Key told the country's first ever Cyber Security Summit in Auckland that the government had earmarked funding set up a national Computer Emergency Response Team to help prevent and act on cyber incidents in partnership with the private sector and other organisations. More>>

ALSO:

Pay As You Go: Budget Plans For Business Tax
• Provisional tax is being reformed, with a new pay-as-you-go option giving up to 110,000 small businesses a way to pay tax as they earn income from 1 April 2018.
• Use-of-money interest will be eliminated or reduced for the vast majority of taxpayers... More>>

ALSO:

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