The Nation: Joyce v Robertson on Finance

The election campaign is getting serious – there will be a debate between the Minister of Finance Steven Joyce and Labour’s finance spokesperson Grant Robertson on The Nation this morning.

This could define National’s approach to combating the resurgence of Labour, and also give us an indication of how well Robertson grasps economic issues.

A key difference on tax.

Robertson says Labour wants to target those who need help the most and it is wrong to give tax cuts to high earners.

Joyce says that Labour’s policy will give ‘baby bonuses’ of $3,000 to high earners and won’t give anything to middle income earners.

I don’t think either argued their tax policies clearly enough, but this is likely to be a big election issue.

There’s a lot of debate about whether the Government is cutting expenditure on health and education, something Labour have pushed for a while, but Joyce claims otherwise. A lot of numbers quoted.

Tax and spending policies can’t be finalised yet.

Until that comes out the amount of money available can’t be finalised. Robertson won’t commit to not raising income tax rates.

Scoop has the transcript: http://www.scoop.co.nz/stories/PO1708/S00249/the-nation-economy-debate.htm

11 Comments

  1. sorethumb

     /  August 12, 2017

    I listened to he said he said he said and having seen the article by JB Were I wanted to see the graph. The verbage however is like kids roaring around on dirt bikes.
    We live in a media prison because the media decide the outcome.

  2. “Robertson won’t commit to not raising income tax rates.”

    Also won’t commit to doing away with a CGT. That would be a killer.

    Robertson floundered about on the water tax. People want numbers

    • Blazer

       /  August 12, 2017

      Robertson performed well imo…..Joyce seemed quite reticent ,unusual for him.A tax cut by the Natz costing 400m for those earning over K62 is unnecessary.Robertson pointed out quite rightly that Nationals bright line test is a CGT…in…drag.

      • Gezza

         /  August 12, 2017

        Yep, I think Grant got a good jab in with that one.
        Stephen may have pretended it didn’t hurt but he winced!

      • High Flying Duck

         /  August 12, 2017

        If Robertson said that he is completely wrong.
        The brightline test simply asserts if you buy and sell that quickly it was never a capital asset and your intention was resale so the transaction is taxable.
        Labour have struggled with this simple concept for quite some time and it is just another reason they are unfit to be in government.

        • Blazer

           /  August 12, 2017

          Behave…mere semantics. Labour want to extend it to 5 years.

          • High Flying Duck

             /  August 12, 2017

            Which is a policy I agree with.
            But their weasel words over putting in a CGT to stop ‘speculators ‘ who are already taxed under normal rules was embarrassing.

    • Gezza

       /  August 12, 2017

      Well, that one was definitely worth a watch, for a change – whichever side of the fence you’re on. I notice the Panel was highly dubious about Joyce’s claim of 100,000 houses having been built.

  3. Contractor

     /  August 12, 2017

    I would have thought Joyce would have learnt from the shambles of his last election performance on The Nation – obviously not, apparently 100,000 houses – these would of course be the most astonishing bestest covfefe house ever, locked and loaded, the mostest fire and fury houses ever constructed. Joyce uses the Trump play -bullshit and the sycophants nod along. As a currently undecided voter after the last few weeks, Joyce and his boorish arrogance are enough to push me further and further from National.

    • Gezza

       /  August 12, 2017

      He also flappec about a bit when he was asked how many of them were affordable …