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The Spinoff
22-05-2025
- Business
- The Spinoff
10 key reads on Buget 2025
Nobody has time to read everything that's been written on the budget, so Catherine McGregor has a round-up of some of the most interesting takes, in today's extract from The Bulletin. The true blue, bitsy, no BS, growth budget For Jenée Tibshraeny at the Herald, it was both the 'reality bites budget' and the 'true blue budget'. For Lloyd Burr at Stuff, the 'bitsy budget'. Nicola Willis called it a 'no BS budget', while the Greens said it was a 'growth (in poverty) budget. Officially, of course, it was the Growth Budget, and the tsunami of media analysis that followed its release focused largely on whether it delivered on that promise – and what will be sacrificed to boost the government's high-growth dream. To help you make sense of it all, I've picked out some interesting reads to give you a sense of the overall picture. If you're just interested in finding out where exactly the budget was spent and slashed, check out Joel MacManus and Lyric Waiwiri-Smith's missive from the budget-day lockup, Gabi Lardies' guide to the budget for people who hate the budget. We also have Frances Cook's reaction to the KiwiSaver shakeup (spoiler: she doesn't love it). Here are 10 more stories, from The Spinoff and elsewhere, that caught my eye. Media winners and losers If you just want to read sector experts on what the budget means for their field, look no further than our annual hot take roundtable. Among the contributors is The Spinoff's Duncan Greive, who says RNZ's loss of $4.6m a year in funding makes it the media sector's biggest loser. 'It's a chunky sum, equivalent to 7% of its budget, but on some level it might be relieved it wasn't considerably worse, given that it received a $26m annual boost in 2023,' says Greive. Meanwhile the screen production sector got a pre-announced $577m rebate boost. 'Some proportion of this will inevitably be taken up by streaming giants, who also will have been pleased to discover that the threat of a 3% digital services tax quietly vanished this week,' writes Greive. 'While understandable given the continued belligerence on trade from the White House, it does tend to make local businesses feel like chumps for playing the last game, where you pay tax and employ people.' Lockup scran, reviewed It wouldn't be Budget Day without a thorough taste test of the food on offer at the lockup, the phone-free zone where journalists and other interested parties get to read the budget before it's released. This year The Spinoff's parliamentary team, Joel MacManus and Lyric Waiwiri-Smith, did the honours, adding a fiscal-friendly twist to their food reviews: The lettuce in the egg salad sandwich was 'an unnecessary inclusion like counting ACC revenue in Obegal ', while the sausage roll was 'rich, like the people who are no longer eligible for government KiwiSaver contributions'. Bad news for the poorest among us Remember Jacinda Ardern's child poverty pledge? Max Rashbrooke does, and notes that while the Labour government's progress on the goal admittedly stalled, 'National's target is literally to do nothing: to maintain the current 12% of children living in poverty for ever and ever, amen.' His analysis, published in The Spinoff this morning, argues that this is a go-slow budget, unless you happen to be a business or high-income earner. 'Despite the growing calls on the state – to tackle poverty, to address the effects of climate change, and to care for an ageing population – Willis is determined to shrink government spending as a proportion of GDP from 33% to 31%. A diminishing share of our annual income will be spent on solving collective problems.' MPs on a sugar high Parliamentary sketch writer Joel MacManus is interested in much more than just food, I swear, but it was his passages describing MPs' snacking habits that stood out to me in today's Echo Chamber column on the House budget debate. 'Mark Mitchell had a packet of M&Ms on his desk and looked very pleased about it. He ate them methodically, one at a time, every three seconds, like a pendulum of candy-coated chocolate. He offered them to Todd McClay and Scott Simpson, each time with a cheeky grin as if to say 'haha, look at me, I'm eating M&Ms in parliament'. Andy Foster and Jamie Arbuckle shared some Mackintosh's Toffees (an on-brand lolly for New Zealand First). Winston Peters scrolled through a group chat that seemed to be entirely people sending context-free GIFs.' Another recession? It's not actually something to read, but the now-traditional Gone By Lunchtime x When the Facts Change budget special is always a great listen. Toby Manhire and Bernard Hickey discuss the main takeaways from the budget, including whether Willis has done enough to rev up the New Zealand economy – or as Hickey calls it (altogether now), 'a housing market with bits tacked on'. Hickey doesn't sound at all optimistic. 'This budget doesn't solve [the government's] problems, it isn't a growth budget, and risks driving the economy into a double dip recession.' OK then. Business gets an Investment Boost Over on BusinessDesk (paywalled), Patrick Smellie is a bit more positive about the economic impact of Investment Boost, 'the growth centrepiece of the Government's growth Budget'. The accelerated depreciation regime, which will allow businesses to deduct 20% of the cost of new capital equipment in the year of purchase, will boost GDP by 1% over the next two decades, with 0.4% of that impact forecast to occur in the next four years, according to Treasury forecasts. The policy 'has undoubtedly just made recession-weary, cautious business owners more likely to make a capital investment,' Smellie writes. 'Low capital-intensity and poor uptake of advanced technology are key reasons for New Zealand's abysmal productivity performance, so this initiative makes sense both as a short term mood-lifter and a medium term spur to better commercial and economic performance.' The science community responds As Newsroom's Fox Meyer explains, in the science sector, 'half of the savings found by cancelling research funds and institutes will be spent setting up an office to attract foreign science [business ventures] and an office to oversee a deregulated gene tech space.' The Science Media Centre has gathered responses to the budget announcement from academics across the country. A group of science educators from AUT, Auckland University and Massey sum up the predominant feeling of dismay: 'With this budget the government has gone further down the path that sees research, science and technology only in terms of contributing to economic growth. It is an outdated fantasy that scientists in their laboratories are intently working on new inventions that can be commercialised to reap enormous profits, yet this seems to be the thinking behind the Vote Business, Science and Innovation.' 'Grin and bear it' In Newsroom, Laura Walter also has food on the mind, writing that 'everyday Kiwis … have been thrown merely crumbs, while the Government clips their meal ticket in the hope of achieving long-term economic growth'. She goes on: 'NZ First leader Winston Peters has recently taken to quoting the song lyrics by Shane Newton: 'Hang on, help is on its way' – usually in reference to the Cook Strait ferries. Those hoping for some more help in the short term will be disappointed by this year's Budget. 'But Willis is steadfast in her belief in the long-term-growth approach. Any short-term relief that could be handed out already has been. Everyone else will have to grin and bear it, as the idea of 'survive to '25' disappears into the rearview mirror.' A re-election warning Writing in The Post (paywalled), Janet Wilson hits some similar themes, but with a lot more intensity. 'Willis' contention in the media lockup that this Budget would benefit working families is the kind of bald-faced poppycock that all politicians indulge in when trying to get their policies over the line. In fact, nothing could be further from the truth.' And Wilson has a warning for the government: 'The books may have been balanced, but at a price for a coalition that will soon consider its electoral chances in 2026. Because Budget 2025 has created a determined voting bloc of anti-Right protesters, as the hundreds of protesters who gathered in front of Parliament during the Budget announcement attest.' Department store closure casts a pall Dita de Boni's piece in The Post (paywalled) on the closure of Smith & Caughey came out a few hours before the budget, but it speaks to many of the same issues that other commentators addressed. With their closure announcement on Wednesday night, the department store's owners 'underlined an undeniable diminution of the New Zealand economy in the past few years that will take only the most deft and innovative economic management to turn around. 'The loss of such an icon of Auckland City is one more sign that a lack of confidence is not misplaced, and furthermore, that many people are paid so poorly that after mortgage/rent and groceries, they don't have the dough for fripperies. And even if they do, they're looking for bargains. 'Business and consumer not just confidence, but also aspiration, will play an important part in returning economic health to New Zealand. Here's hoping Budget 2025 will supply some.'
The Spinoff
07-05-2025
- Politics
- The Spinoff
Echo Chamber: Pay equity, private emails and petty politicians
Welcome back, parliamentary girlbosses. After three weeks away from the House, it didn't take long to dirty up the clean slates. Xoxo, Gossip Girl. Echo Chamber is The Spinoff's dispatch from the press gallery, recapping sessions in the House. Columns are written by politics reporter Lyric Waiwiri-Smith and Wellington editor Joel MacManus. It's been three weeks since the cast of the 54th New Zealand parliament were last together in the House. In that time, the government agreed to scrap prisoner voting rights, Te Pāti Māori pledged to hold its own privileges committee, the Green Party teased a $8bn plan for 'green jobs' and NZ First submitted a member's bill which would define 'woman' and 'man' in law, among other things. They could've just enjoyed their holiday, but instead they've given us a lot to talk about – we're quite lucky to have such hardworking MPs. After all that, a few came back to the House a bit sleepy – like speaker Gerry Brownlee, who drew a few blanks just as Tuesday's question time kicked off. As the parties paid tribute to the late Pope Francis, Brownlee confused Green MP Francisco Hernandez for 'Franco' and simply stared at Act minister Nicole McKee until someone shouted her name. But for the most part, everyone was switched on like a 16-year-old with a social media account. In particular, the fire in the bellies of the opposition benches had been freshly ignited by the news that the workplace relations minister, Act's Brooke van Velden, had planned an overhaul of the pay equity process that would save the government 'billions' in the upcoming budget. Also because librarians think they're as hardworking as engineers, or something, which is obviously untrue as engineers don't have the occupational hazard of fending off Destiny Church goons. All the opposition party leaders wanted to know the same thing: whether the prime minister stood by all of his government's actions and statements and what have you. Labour leader Chris Hipkins was first up, challenging Christopher Luxon on whether New Zealanders could trust the government to prioritise rights for women workers, but his wording in suggesting women were the 'sacrificial lambs' for the budget had Act leader David Seymour giggling. Well, that's not quite what's happening here, Luxon said, we're just making sure the process is moving away from 'market conditions' and focusing on 'sex-based discrimination' – or, as van Velden told media earlier, stopping these low-wage workers from 'gaming the system'. Hipkins must have missed the mob of female National ministers, among them Nicola Willis, Judith Collins, Erica Stanford, Louise Upston and Nicola Grigg, who had met reporters on their way to the debating chamber, or he would have realised this truly is a coalition for women. Labour's finance spokesperson, Barbara Edmonds, was still stuck on promises made in last year's budget. Over parliament's recess, finance minister Willis had confirmed only 1.2% of eligible families had received the FamilyBoost rebate, which she blamed on some bad number fudging by the Inland Revenue Department. As their back and forth kicked off, the barracking by Edmonds' party colleagues almost overtook the whole show. Essentially the entire Labour caucus wanted to know why hadn't all families the government had promised would be eligible for this scheme accessed their rebate? Willis caved: 'Well, it was very clear that it was up to 130,000 families.' In a way, setting a goal is kind of like setting a speed limit: just because 70km/h is the maximum speed, it doesn't mean you have to drive it. Fighting back against the barrage, Willis rose from her seat with the mana of a woman empowered by her workspace. She delivered her words with a robust and sustainable force, rising above her foes across the House with the message that 'those who work hard should be rewarded for their effort, and the government should respect the wages of working people'. It was a good time for the government side to cheer, but all you could hear was the sound of the Labour benches roaring. 'After all of that, not one clap,' Labour's Kieran McAnulty remarked. 'There'll be a right clap over there,' deputy prime minister Winston Peters warned. He seems like the kind of guy who might just do it, too. Another empowered female MP, Collins, chose to look beyond the headaches the opposition was causing and celebrate the government's successes. The defence minister – who has an obvious level of pride in her portfolio, and the work shows it – had announced a $2bn investment in maritime helicopters and an extra $957m for the defence force on Sunday, and had heard defence personnel were 'absolutely fizzing' and 'joined up to do stuff' because of it. 'I can hear you battling,' Te Pāti Māori co-leader Debbie Ngarewa Packer mocked. 'And the ladies are paying for it,' Labour deputy leader Carmel Sepuloni cried out. And to think, before all of this, the talk of the morning had been all about education minister Erica Stanford using her private Gmail account for ministerial business. But other than confirming to Labour MP Willow Jean Prime that she does indeed use the two-factor authentication for her Gmail account, questioning failed to break much ground – and the minister had her cabinet colleagues to back her up. 'People have got friends, just saying,' Collins called. Peters rose to his feet for a supplementary: 'Does the minister find it unusual that there are some members of parliament who are so lacking in doing their duty as responsible MPs or ministers that nobody writes to them?' It was one way to look at it. This just in, from Peters' personal Gmail account: 'Budget 2025 minutes: the potential economic impact of wokeism', 'meeting invite: dinner at Duke of Marlborough with business leaders', 'WINSTON MY KIDS ARE LEARNING ABOUT GAYS IN SCHOOL SEND HELP', 'Still thinking about a new ferry? You've left an item sitting in your cart'.
The Spinoff
29-04-2025
- Business
- The Spinoff
The Golden Mile gets going, with or without the nimbys
After nearly a decade of let's-and-let's-not, Wellington City Council has officially commenced work on the Golden Mile upgrade. It's hard to imagine why city dwellers wouldn't want a better place to live, argues Lyric Waiwiri-Smith. The truck carrying a load of port-a-loos had stopped at the least opportune time. Idling at the intersection between Courtenay Place and Cambridge Terrace on Monday morning, the green machine rolled past the city councillors circling a traffic island and, by the time they had stopped, so had the truck, sitting in the money shot right behind mayor Tory Whanau. The sod turning for the first stage of the Golden Mile upgrade needed to wait another 30 seconds for the truck to get the green light and go, but a handful of seconds is nothing against the backdrop of a nearly decade-long wait. Using a shovel already caked with a bit of mud, Whanau gently dug into the moist earth, then curled the blade upwards and lifted the spade high in the air, letting the morning sunlight gleam off it – the silver lining of a multimillion-dollar headache for some, a long-overdue upgrade to many more. After nine years of council in-fighting, foiled attempts to loosen the purse strings and bite-back from businesses and central government, the Golden Mile was officially under way. The councillors who had fought to kill construction hadn't hidden in the shrubbery for their moment to swoop in and swipe Whanau's spade, as our Wellington editor Joel MacManus had predicted they might. There was no sign of councillor Tony Randle rushing down the street to call a last-minute motion, and councillor Nicola Young avoided dragging a business owner out of the bushes with her. The council, as a council should, simply got on with it, a rare feat for a bunch of New Zealanders in local government. It's hard to imagine why those living in a city constantly plagued by bad headlines – whether they concern broken pipes, money woes, a vibecession, or just straight up asking whether Wellington is in the shit – wouldn't want their city to get better. Whether the Golden Mile is the antidote to Wellington's ailments will be seen within the next five years or so, when construction has finally concluded – but it's either take this, or let things stay the way they are. You'd be hard pressed to walk through the capital's streets and find a Wellingtonian who a) doesn't think at least one block of the 2.43km of roads that make up the Golden Mile (don't ask me why they choose that name with the information available) needs a facelift, and b) is somehow ignorant to the fact that Wellington's inability to get itself moving has made it the butt of the rest of the country's jokes. The Golden Mile covers Courtenay Place, Manners Street, Willis Street and Lambton Quay, all main roads in the city and all in varying states of shambles. Courtenay Place, the nightlife hub, is trendy at the Mt Vic end and scummy at the Manners Street end, where the dilapidated, piss-soaked and grime-covered Reading Cinemas (due to be reopened later this year) sits. Then there is Manners Street itself, the subject of weekly Vic Deals horror stories, where there's little to see except for some crime here and there. Meanwhile, Willis Street is thriving. There are food and retail options, and as the connector between bureaucratic Lambton Quay and chill-vibes Cuba Street, there's plenty of foot traffic (the entire 'mile' is also at the heart of the city's public transport system, which 95% of all of the city's buses run through). And Lambton Quay is Lambton Quay – a hotspot on work days during work hours, but at any other time, essentially a ghost town. The city council's official line is that the Golden Mile works – which include pedestrianising the streets, more greenery, a new bike lane, widened footpaths and slip-safe paving – will help to 'revitalise' Wellington and 'create a vibrant, accessible, and thriving environment'. If you are too jaded by bureaucrat-speak to understand what this all means, here is a quick breakdown: Widened footpaths will mean you won't have to angrily shove past the slow-moving mobs on Lambton. Better paving means you won't fall on your ass after a night out on the booze on Courtenay. Seeing a tree in an urban space will remind you to touch grass. God forbid we want anything more. The whole song and dance is reminiscent of where Auckland stood about 10 years ago, around the same time the Golden Mile was conceptualised, when the City of Sails was staring down the barrel of the City Rail Link. An underground train line, in little old Auckland city? Dare we dream of a reality that makes us a real city? Dare we want more from this life? Nearly 10 years on, Aucklanders will soon reap the benefits of an improved public transport system – Wellingtonians can't even decide if a cycleway is too controversial. 'Projects like this happen all over the world all the time, and it generates negativity – that is the norm,' Whanau told The Spinoff. 'Change is hard, but people will love it.' Things take time. Things also cost money. Things that take time and cost money are hard to imagine the end result of. But perhaps in five years, as you seek refuge from the sun under the new green foliage on Courtenay Place, the painful Golden Mile decision-making process will come back as a flicker of a bad dream. You'll try to clear your head with a bike ride down a polished Manners Street, stop at the end of Lambton Quay, shock yourself by discovering there are actually other people here too, walk out onto the car-less street, raise your hands to the sky and scream that if you can make it here, you can make it anywhere.
