Bill English under threat from Don Brash too...

David Cunliffe MP

Finance Minister Bill English now has a threat hanging over his future in the form of ACT leader Don Brash while he is less than a month out from delivering a budget that is crucial to New Zealand’s future, says Labour’s Finance spokesperson David Cunliffe.



“Don Brash clearly has his sights set on becoming Finance Minister after November 26 in the unhappy event for New Zealand that an extreme right coalition is elected,” David Cunliffe said.



“To become Finance Minister he would have to roll Bill English. He’s rolled him before to become National leader, and he has just rolled Rodney Hide, so Bill English will be well aware how serious the threat is.



“Don Brash’s hand-picked Epsom candidate John Banks has already gone public on the importance of Brash having an ‘ascendancy’ and ‘senior’ role, and of the need to put some ‘reinforcing steel’ into National’s economic policies,” David Cunliffe said.



“It is extraordinary to see the arrogance of former National Ministers who are not even members of the ACT party dictating terms so soon.



“This raises the obvious question of how much John Key and his office knew of Dr Brash’s intentions and his coup against Rodney Hide,” David Cunliffe said.



“Has a deal already been done with John Key, despite the Prime Minister saying it would be highly unlikely that Brash would be in line for a finance role. Given Don Brash’s shabby and secret behaviour in the past, a backroom deal is not beyond question.



“New Zealand faces some of the most challenging economic times this century, and this will be a crucial Budget,” David Cunliffe said



“Helping New Zealand’s economy perform better will require clear vision, a coherent and robust strategy, and a credible plan to implement it.



“The only thing we can agree with Don Brash on is that Bill English has clearly failed to produce any of this in his first two-and-a-half years in the job.



“Now he faces the additional pressures of Don Brash’s ego and ambition breathing down his neck,” David Cunliffe said.


Acknowledgements: NZ Labour

An effing tragedy not a loss or an accident either

Image via Wikipedia


Key  is a Joke

John key was visiting an Auckland primary school and the class was in the middle of a discussion related to words and their meanings.

The teacher asked Mr Key if he would like to lead the discussion on the word 'Tragedy'.

So our illustrious leader asked the class for an example of a 'Tragedy'. A little boy stood up and offered: 'If my best friend, who lives on a farm, is playing in the field and a tractor runs over him and kills him, that would be a tragedy.'

'Incorrect,' said Key. 'That would be an accident.'

A little girl raised her hand: 'If a school bus carrying fifty children drove over a cliff, killing everybody inside, that would be a tragedy.'

'I'm afraid not’, explained Key, 'that's what we would refer to as a great loss'.

The room went silent. No other children volunteered. Key searched the room.

'Isn't there someone here who can give me an example of a tragedy?'

Finally, at the back of the room, little Johnny raised his hand and said:

'If a plane carrying you and Mr. English was struck by a 'friendly fire' missile & blown to smithereens, that would be a tragedy.'

'Fantastic' exclaimed Key, 'and can you tell me why that would be a tragedy?'

'Well', said Johnny, 'it has to be a tragedy, because it certainly wouldn't be a great loss, and it probably wouldn't be an effing accident either!

Image via Wikipedia

David Cunliffe, Labour finance spokesman



 Ngai Tahu, Superfund  wanted to buy South Canterbury finance...







The New Zealand Superfund and Ngai Tahu were part of a consortium of investors whose bid for South Canterbury Finance was rejected last month, says opposition finance spokesman David Cunliffe.



Details of the bidders were revealed by Mr Cunliffe in Parliament today as he alleged government mismanagement of the failed finance company that he said may cost the taxpayer more than $300 million.



Mr Cunliffe told the House an offer for $1.3 billion was made on August 31 by a consortium led by Permanent Investments. That offer was rejected by the receivers. Another offer again led by Permanent but also including the New Zealand Superannuation Fund and Ngai Tahu was made on September 13 and also rejected.



Permanent Investments is a company asssociated with Sydney-based businessman Duncan Saville. Its directors include Dugald Morrison, the brother of Wellington businessman and Saville associate Lloyd Morrison, who in turn has interests in companies that manage millions of NZ Super Fund cash.



Permanent was indentified by the Herald as a bidder for South Canterbury's assets after South Canterbury chief executive Sandy Maier was seen on a plane reading a sale and purchase agreement for his company the day it went into receivership.



Mr Cunliffe said based on South Canterbury's book value of $1.8 billion, the taxpayer would have incurred a loss of about $500 million had the first offer been accepted.



He also said with the Government indicating it anticipated an eventual loss of $800 million on South Canterbury, it had effectively left $300 million on the table by rejecting the offer. Mr Cunliffe later said there was a risk the value of the company's assets may deteriorate further, deepening the taxpayers' loss.



Responding to Mr Cunliffe, Finance Minister Bill English said he didn't want to comment on commercial details of bids or transactions that may still be under negotiation and he referred to an earlier statement that at no point was there any offer on the table "that did not involve considerable risk and cost to the Crown".



South Canterbury Finance went into receivership at the end of August triggering a $1.7 Government payout to investors. including $1.6 billion under the Crown's Retail Deposit Guarantee.



Treasury is to publish documents relating to the guarantee and South Canterbury Finance this week.


Acknowledgements: Adam Bennett

Related articles

• Ngai Tahu, Superfund wanted to buy SC Finance (nzherald.co.nz)
• Opposition parties want inquiry into SCF (nzherald.co.nz)
• Tahu escapes racism row with a haka (news.theage.com.au)
• English cancels trip as Hubbard decision looms (nzherald.co.nz)
• Process cuts chance to mine minerals, says Ngai Tahu leader (nzherald.co.nz)

Ambitious John Key's tax reforms lamblasted by critics....

John Key's tax reforms lamblasted by critics. But did they really expect anything different? AS PM John Key has really done nothing. His job is to get National re-elected and then hand over the reins to Bill English, because National knows he couldn't get elected as prime minister. And John Key wants to follow Helen Clark out into the big world yonder.

Economic commentator Bernard Hickey says the Prime Minister rightly pointed out there is a big hole in New Zealand's tax system, but he has done nothing to plug it.

He says Mr Key has ruled out a capital gains or land tax, sending a grim message to those not already owning a home.

"John Key was essentially saying to those people who don't own property now, that there isn't much hope, he isn't going to change the tax system in any major - and if you want to buy a house, you may as well buy a one-way ticket to Australia or somewhere else."

Mr Hickey says Mr Key has decided to take the easy way out to make sure he is re-elected in 2011.Re-elected to hand over the reins to the unelectable Bill English.

Labour's on the warpath over suggestions GST may rise, after Mr Key signaled the idea is under consideration for this year's Budget. A 2.5 percent rise would earn the Government an extra $2 billion, money that could be used to reduce top tax rates.

Labour leader Phil Goff is damning of any move to increase GST.

"What New Zealander that he's met out in the street has told him that they want the price of their bread to go up? The price of their milk? The price of their power? The price of their kids' shoes and their back to school needs?"

Mr Goff says no-one asks for an increase in GST except those in the top income bracket, who will take it in exchange for tax relief for the high incomes they are earning.

Mr Goff says the speech delivers no real action plan for the country and it was more like "tiptoe Tuesday" than the "big Tuesday" National's spin doctors made it out to be.




Acknowledgements: © 2010 NZCity, NewsTalkZB

A fanatic National landslide or a left of centre coalition...

There will be a maniacal National landslide that would prove New Zealanders don't deserve the vote, or a left of centre coalition.

It is too difficult to predict what people will do inside their voting booth.

Lets face it Nationaal has a head, but no body; it represents nobody at present just political expediency. Who is John Key and who does he represent? Who are those shadowy figures behind him?

What does a multi-millionaire former money making financial speculator want in politics? Are the rumours correct about Key? He is in it to achieve power for powers sake! And he accuses Helen Clark and Micheal Cullen of never having a "real" job; financial speculation is a real job? Yeah right!

Is he the deceitful stooge front man who is attempting to assist National into power, because Bill English can't and Don Brash couldn't? Rumour has it if he is successful he will resign as prime minister a year or so before the next election, and as a consequence all bets will be off because any election agreement made by John Key will not bind his successor, Bill English. Remember you were told here, readers!

What are we to believe about National's policies...

What are we to believe about National's policies? Will John Key resign or be "rolled" by Bill English early in 2011, if he(Key)is elected as prime minister this year. We all know that Billy English couldn't take on Aunty Helen head to head, anymore than the ridiculous Don Brash, though Donny did do better than most expected.

So was there some nefarious deal done between Key, English and the National Party? JK can get the kudos for being elected prime minister along with all the lifetime perks of superannuation and free transport for life, step aside or be "rolled" by Billy English in 2011 after Aunty Helen has gone on to new things. JK should have reasons to resign in 2011 - either the sale of Kiwibank or fiddling with National Super. Lets face it, the amiable Phil Goff hardly poses much opposition for Billy English.

The All Blacks have shown the way to the Labour Government when the polls indicated their demise!

In this life you read a bit, hear a bit and see a bit in your travels. Why does John Key have a pair of smelly jandals on the roof of his electoral office in Helensville, for instance.

Another in the X-curious realm is a story allegedly involving two television journalists and prime ministerial hopeful John Key during some light revelling one evening. JK made a strange comment in the course of emptying his pint, that he expected to be "rolled" by Billy English late in his first term as prime minister. He didn't appear to be too perturbed by the prospect - after all Kiwi taxpayers will look after him for the rest of his life. Just a taste of the good life and his photo in the hallway at Parliament House along with 'Mr Think Big' himself, the late Sir Rob Muldoon.

These are certainly interesting times, friends.