Dear NZCPR Reader,In this week’s NZCPR newsletter we examine Budget 2021 and raise concerns about the underlying incentives to increase dependency – as well as providing a brief insight into the Government’s $55 million taxpayer-funded public interest journalism fund, our NZCPR Guest Commentator Professor Robert MacCulloch explains why the Budget’s failure to address the extraordinary rise of the regulatory state is so significant, and our poll asks whether you would give Budget 2021 the thumbs up or thumbs down.
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Michael Reddell is a fair economist and will question the economic policies of all sides from an objective perspective. This week in his economic blog he has been scathing of this budget.
If Michael looks at the budget and makes a comment like the one below, I find it hard to reconcile with what I am reading in the media. We of course know we are seeing a corruption of our democracy happening before our eyes.
"There is no rationale – grounded in the Act – no analysis, and no short or medium goals. Simply structural deficits for years to come (see first chart above) – discretionary deficits actively chosen by today’s government larger than any such cyclically-adjusted deficits run in New Zealand at any time since at least the end of World War Two. It hasn’t been the New Zealand way. But it appears to be so now."
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