No Minister

Posts Tagged ‘Bill English

PETERS IS A TIRED EMBITTERED OLD MAN

Nothing sums up Winston Peters more than his less than dignified response to the the news that Bill English is to resign as leader of the National Party.    Compare that to the Prime Minister’s generous comments in the House where she acknowledged the huge contribution BE has made to the country during his 27 years in Parliament.

Peters presents as a tired embittered old man totally incapable of rising to the occasion and that’s how he will be remembered when he exits public life either by accident or design … that and the stain he’ll leave behind on his seat because he really does talk a lot of s**t.

This is Bill English’s day and nothing Peters sez or does will detract from that.

Written by The Veteran

February 13, 2018 at 4:14 am

HAS TO BE A SLOW NEWS DAY

So TV 1 goes full on with the shock horror expose that the Prime Minister at half-time at a netball match in Porirua spent much of his time talking to his host rather than watching and applauding the half-time entertainment.

Silly me and I thought half-time was when you got out of your seat to stretch the legs; take a leak; buy a drink or possibly all three (although best practice would suggest not all at once).  As for talking to ones host and everyone knows this is more properly done during the game … don’t they!!!!!!

Such crass behavior.   The PM should be horsewhipped.   Meanwhile in the real world ……….. 

Written by The Veteran

May 31, 2017 at 8:51 am

Posted in New Zealand

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He learns Quickly

Donald Trump showed himself to be an expert at milking the media for tens of millions of dollars worth of free publicity.

Bill English has not been slow to follow.  This priceless picture tells a hundred thousand dollars worth of words.   The immediate subliminal message is ‘This guy can actually so something useful.’

Image result for bill english sheep

I wonder what Andrew Little can do?

I know what he can’t do – and that’s win an electorate.

Anybody have any idea?

Written by adolffinkensen

February 13, 2017 at 1:30 am

Posted in New Zealand

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IS THIS WHAT ANDREW LITTLE LOOKS LIKE … SHORN OF ALL DIGNITY

Written by The Veteran

February 11, 2017 at 9:32 pm

BILL ENGLISH IS NOT FOR TURNING (WITH APOLOGIES TO MAGGIE)

The breaking news that Bill English is standing firm on his decision to give the lower Marae at Waitangi the flick and will instead be the guest of Ngati Whatua at their Orakei Marae where he will host the traditional Prime Minister’s Waitangi Day breakfast is to be applauded.

The lunatics who control the Te Tii Marae and whose actions over the years have made decent New Zealander’s cringe have had their bluff called.   No more grandstanding, no more faux apologies.   They have successfully edited themselves out of the game.

A very reduced number of National MPs will join with MPs from all parties to be ‘welcomed’ onto the lower Marae.      Not sure why they see a need to go there at all.   The real action will be on the Treaty House Grounds.

Written by The Veteran

January 24, 2017 at 7:39 pm

KINGI TAURUA … UPDATED

So Kingi Taurua now sez the letter, sent over his signature, to the Prime Minister making it clear that he was to be denied speaking rights at the Powhiri welcoming him onto the Te Tii Marae at Waitangi didn’t say what he thought it said and he’s sorry about that … ROFL.

Don’t back down Prime Minister.   Don’t go.   Never go.    The Marae has no mana.   The lunatics that run the place have seen to that.    John Armstrong (bless his cotton pickin sox) has summed up the situation perfectly here

Updated further … KT now claims the letter sent over his signature was authored by certain ‘Young Turks’ on the Marae committee.   Ipso facto … not his fault.   Clearly if we were believe that (and I don’t) Taurua doesn’t subscribe to the HST dictum … the buck stops here.    I see that David Rankin, respected Ngapuhi elder, has disowned KT and his mob and endorsed the decision of the PM not to turn up.   Hurrah for common sense.   

Written by The Veteran

January 11, 2017 at 8:25 pm

GOOD DECISION PRIME MINISTER

For as long as I can remember mayhem on the TiTi (Lower) Marae at Waitangi has featured as the lead item on the TV news on Waitangi Day.   The reality is that the disfunctional Marae leadership have abrogated their host responsibilities and Marae protocol to the point where the Prime Minister has said enough is enough … you want me to respect the mana of the Marae but in turn you refuse to respect the dignity of my office by refusing me the right to speak at the powhiri welcoming me onto the Marae. That is a studied insult. Bill English has made the right decision.

Kingi Tauroa is the chief lunatic in charge of the asylum.    He plays to the cameras.    He enjoys his moment in the sun.   But the reality is that the TiTi Marae has no special place in our history.   The action was all on Treaty Grounds.   TiTi Marae came later and if individual Maori wish to protest at the Marae then fine, but the Prime Minister is right to call time out on his attendance there.   I would go one step further and pull any official recognition afforded the TiTi Marae.   You earn respect; the Marae, by its own actions, has forfeited any respect due.

Talking to a Maori mate of mine over a beer at Jimmy Jack’s Rib Shack in Paihia this afternoon after the story broke.   He rolled his eyes … “Kingi doing his thing … doesn’t speak for me, never has”.   The voice of embarrassed Maoridom.    Take that over KT and his bunch of kaumatua misfits any day.   

Written by The Veteran

January 9, 2017 at 8:27 am

The Government’s antithetic tax bill

Unless you live in a cave or under a rock, you will have noticed that Auckland has a housing crisis.  I don’t think the word “crisis” is hyperbole.  Net migration flows are the strongest they have been in 20 years; and land restrictions are worse than they usually are.  The only bright side (pun intended – see below) to the market is interest rates are likely to stay very, very low for a while, and unemployment numbers are strong.  This means people in jobs being able to afford ridiculous Auckland house prices, or its even more obscene rents.

When these factors clash, you would expect a government that favours the market approach to solving economic and social issue to put that approach into practice.  The last thing we need in Auckland right now is more cost and regulation added to the mix.  The Auckland housing market isn’t working, as Bill English noted.  I doubt the government has any real concern about resolving it, because if it did, it wouldn’t have made Nick Smith the responsible Minister.

Instead of using market techniques and less regulation to try and solve the crisis, the Government has taken the opposite approach: It introduced silly rules as a political response. 

The bright-line test (a Capital Gains Tax that National said it wouldn’t introduce), which was the second of those silly rules, is now being implemented through the Taxation (Residential Land Withholding Tax) Bill. This creates another withholding tax payable at point of land sales within two years.  Again, this Bill is merely a political response to the shrills of Winston Peters and Phil Twyford.  It won’t have any affect on rising house prices, and it will actually have the opposite effect to its intent.

To explain how, I need to summarise the Bill.

The Bill creates a new withholding tax (Resident Land Withholding Tax or RLWT) which requires lawyers to calculate the correct amount of capital gains withholding tax payable by an offshore land developer at point of sale.  As a capital gains tax, it is ring-fenced against losses and other expenses.  In other words, unlike tax paid on profit which has allowable deductions, the capital gains RLWT doesn’t allow these. 

Developers I have dealings with pay their tax in New Zealand.  But they do it in their annual income tax return, which have allowable deductions.  And this return is done many months after the income has accrued – by 1 April the following year as we all know.  The capital gains RLWT will overturn this and require at least 28% to be deducted by lawyers at point of sale.  There are many other complicated parts of it which will require lawyers involved in land developments to become accountants; and there are civil penalties proposed for wrongdoing.  Developers will be able to recover overpaid RLWT at year end in their annual return, but of course this just adds another layer of tax complication which is puzzling for a government of this persuasion, and very puzzling considering the McLeod Report recommended fewer taxes, and less complexity. 

The RLWT will have two initial effects: First, it will severely affect a developer’s cashflow (because they are liable for the tax at point of sale); and second, it will add cost to all transactions from developments. 

The other main effect it will have is also counter-intuitive to what the Government says it wants, and certainly contrary to what the Productivity Commission (scarily) recommended: It will encourage land-banking.  It will do this because developers will not want their cashflow to be affected, and their costs to rise, by entering into sales within two years of the land being purchased.  So they will hold off on their developments.   

Of course the normal process for developers is to show their bank at least 80% of the development sold before bank lending is confirmed.  So developers enter into sales quickly based on draft plans; and usually certainly within two years of buying the land.  The Bill applies to subdivisions and, as mentioned, includes offshore developers.  Indeed, one major company affected by this will be Fletcher Residential, a wholly-owned company of Fletcher Building.  

If you don’t believe me about the increased costs, then perhaps you should consider what Inland Revenue had to say:

This option creates an economic distortion as it creates a “lock-in” effect. In other words, it creates an incentive for people to hold property for longer than two years to avoid the bright-line test.  

For example, a person may avoid selling a property at the highest price, within two years to avoid the bright-line test. The person who is offering the highest price can presumably put the property to its most valuable use. This means that people may not undergo otherwise efficient transactions and put property to its most valuable use due to the bright-line test.

The other daft and disappointing aspect of this shambles was the way the government handled it.  Submissions went out for public input just before Christmas and closed on 26 January.  This Christmas timeframe gave no ability for anyone to oppose it, or write a decent submission pointing out the deficiencies.  The Minister simply described the Bill as “fair”, bit he didn’t say to whom it was fair.

The RLWT proposal in the bill, together with the new bright-line test and changes to collect better tax information about buyers and sellers of residential property will help to ensure that everyone pays their fair share of tax on gains from property sales,” says Mr McClay.

Bill English isn’t stupid.  He sated the obvious – that the market isn’t functioning properly.  The way to correct it is to address the supply issues resulting from the demand.  You cannot do it by adding taxes, cost, complexity and rewarding landbanking.  All of these will make the situation worse and to me are the antithesis of what this government should be doing.

Written by Nick K

February 7, 2016 at 8:00 am

Posted in New Zealand

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