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Friday, June 10, 2011

Budget 2011: Magic numbers


After much speculation by Bernard Hickey and other commentators that the figures for Budget 2011 on growth and job creation might have been taken out of thin air, it appears the Ministry of Economic Development agrees:

Ministry unsure about Budget's job promise

The Ministry of Economic Development has not done any analysis of where the 170,000 new jobs promised in the Budget will come from.

Acting Economic Development Minister David Carter told the commerce select committee today he was not aware that any analysis had been done.

"Bear in mind the Government hasn't said it will create the 170,000 new jobs - the Budget said there will be 170,000 jobs," he said.

Asked by committee chairwoman Lianne Dalziel which sectors the jobs would come from, Mr Carter said he did not know and had not done any work in that area.

That all cylinders are firing out of sync signals that this is much more of an election year budget than any real economic plan to get NZ out of debt.

3 Comments:

At 10/6/11 4:38 pm, Blogger Nitrium said...

The current government is seemingly completely bereft of ideas on how to fix the broken economy. Don't get me wrong, I don't hear much in the way of genius solutions coming from the mouths of the opposition either. The fact is, the ENTIRE western world, including Australia, is in a DEPRESSION, that has been papered over with government spending. That light at the end of the tunnel they profess is coming, is actually an oncoming train.

 
At 10/6/11 6:11 pm, Blogger jane said...

I read this as 17,000 slave labourers on effectively half the minimum wage to flesh out the Shipley/Key wet dream of their first "serfs r us" state to go up for tender- China, USA, India, anyone??

 
At 10/6/11 9:33 pm, Blogger Tim said...

Cylinders firing out of sync generally produces "backfiring" and sometimes even one munted engine if it's left to self-destruct. The last time that happened to me, I patched the cracked block up with a bit of alraldite and gave the thing away - last seen steeming though Newtown. The new owners got a few miles out of it before they were left with the problem of disposal.
Same thing with the economy!

 

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