Wednesday, 21 May 2025 12:25

Debt monster

Written by  The Hound

OPINION: It's good news that Finance Minister Nicola Willis has slashed $1.1 billion from new spending, citing "a seismic global economic event" - Donald Trump's trade tariffs - and unsustainable debt, but with the Government reportedly borrowing $500 million a week, interest costs now exceed the combined budgets of Police, Corrections, Justice and Defence.

New spending will drop from $2.4b to $1.3b though, with Willis wary of the interest bill spiraling out of control.

She criticised "extravagant" wage demands such as the 12% claim by striking senior doctors.

Some commentators opined that savings are likely to come from stalled programmes and unfilled vacancies - not mass redundancies.

Your old mate reckons the public service needs to wake up and realise the country's coffers have been left in a right state and some spending demands are necessarily off the table for the foreseeable.

More like this

Don't hold back!

OPINION: ACT MP Mark Cameron isn’t everyone’s cup of tea, but he certainly calls it how he sees it, holding nothing back when ‘climate scientists’ had a crack at Kiwi farmers recently:

Sorry, not sorry

OPINION: Did former PM Jacinda Ardern get fawning reviews for her book?

Arise Sir Paddy

OPINION: Missed out on a knighthood in the King’s Birthday Honours, again?

Ivory bloody towers

OPINION: The antipathy the previous government had for farmers no longer holds court on the Beehive’s 9th floor, but it’s still alive and well in some ivory towers, judging by a recent missive from the self-styled ‘Integrity Institute’.

Are they serious?

OPINION: The Greens aren’t serious people when it comes to the economy, so let’s not spend too much on their fiscal fantasies.

Featured

IFSO urges flood-affected residents to document damage for insurance

Following heavy rain which caused flooding in parts of Nelson-Tasman and sewerage overflows in Marlborough, the Insurance & Financial Services Ombudsman Scheme (IFSO Scheme) is urging homeowners and tenants to be cautious when cleaning up and to take the right steps to support claims.

National

Machinery & Products

Calf feeding boost

Advantage Plastics says it is revolutionising calf meal storage and handling, making farm life easier, safer, and more efficient this…

JD's precision essentials

Farmers across New Zealand are renowned for their productivity and efficiency, always wanting to do more with less, while getting…

» Latest Print Issues Online

The Hound

Don't hold back!

OPINION: ACT MP Mark Cameron isn’t everyone’s cup of tea, but he certainly calls it how he sees it, holding…

Sorry, not sorry

OPINION: Did former PM Jacinda Ardern get fawning reviews for her book?

» Connect with Rural News

» eNewsletter

Subscribe to our weekly newsletter