Utopia, you are standing in it!

Debate on superannuation focuses on the eligibility age and long-term fiscal sustainability. Only rarely is the connection made between superannuation and retirement savings policies, and economic performance.

Since around 1950 New Zealand has been in relative economic decline, and its productivity has been stagnating for many years. Key to this has been low domestic saving rates, which translate into thin capital markets, investment short-termism and to a low ratio of capital to labour, constraining labour productivity. Low domestic savings rates mean high real interest rates and a real exchange rate that weakens our tradeable sector.

The National Party’s policy is that the entitlement age for superannuation goes up to 67 from 2044. In contrast, Carmel Sepuloni in her 27 May address to the Labour Party’s Congress confirmed that Labour will not lift the eligibility age for New Zealand Superannuation (NZS). She indicated it was affordable as long as we keep…

I’ve been following the defamation case which Corporal Ben Roberts-Smith brought against Australian media, who alleged that he was a war criminal and a bully when deployed in Afghanistan.

His case has been dismissed, he was not defamed, he probably did do what was alleged:

Ben Roberts-Smith VC murdered unarmed civilians while serving in the Australian military in Afghanistan, a federal court judge has found.

Justice Anthony Besanko found that, on the balance of probabilities, Roberts-Smith, Australia’s most decorated living soldier, kicked a handcuffed prisoner off a cliff in Darwan in 2012, before ordering a subordinate Australian soldier to shoot the injured man dead.

Ben Roberts-Smith loses defamation case with judge saying newspapers established truth of murders – The Guardian

From what I can gather, the testimony of Federal Liberal MP (and former SAS Captain) Andrew Hastie seems to have been key:

Assistant defence minister Andrew Hastie has told a…

Being an MP during the civil wars and interregnum came with a certain amount of danger. The decisions that MPs made often came with severe consequences. Dr Vivienne Larminie, assistant editor for the House of Commons 1640-1660, reflects on the difficult choices MPs had to make at this time and the financial and personal repercussions they faced for making the wrong decision.

Throughout the history of the Westminster Parliament, there have been times when MPs faced difficult choices which had potentially life-changing consequences. For the MPs who sat in the Commons between 1640 and 1660 there were unique challenges, unparalleled to that date and arguably since. Decisions were required in 1642 over whether to obey Charles I’s commission of array or Parliament’s Militia Ordinance; in 1644 over attendance at Westminster or the rival Parliament at Oxford; in 1648/9 over whether to continue peace negotiations with the defeated…

Charles II (May 29, 1630 – February 6, 1685) was King of Scotland from 1649 until 1651, and King of England, Scotland and Ireland from the 1660 Restoration of the monarchy until his death in 1685.

Charles II was the eldest surviving child of Charles I of England, Scotland and Ireland and Henrietta Maria of France. After Charles I’s execution at Whitehall on January 30, 1649, at the climax of the English Civil War, the Parliament of Scotland proclaimed Charles II king on February 5, 1649. However, England entered the period known as the English Interregnum or the English Commonwealth, with a government led by Oliver Cromwell. Cromwell defeated Charles II at the Battle of Worcester on September 3, 1651, and Charles fled to mainland Europe.

Cromwell became Lord Protector of England, Scotland and Ireland. Charles spent the next nine years in exile in France, the Dutch Republic and the…

National has introduced a terrible housing policy that can only be a reaction of the struggling Chris Luxon to pressure from Nimbies. It means that an Auckland housing unit will have a land cost over $500k more per unit than the MDRS rules. See below for an example

Peter Cresswell has an on point critique here. A Green Party MP shepherded the rules through select committee.

SO WITH HOUSING ONCE again a political football, we await an election to sort out which fuckwits where get to tell us where and how we’re allowed to build, planning rules in and around our city are once again completely up in the air — as they were while we awaited certainty around the MRDS. And without that certainty, it’s impossible for developers and builders to make real plans, uncertain as they are as to how council’s planners might be allowed to curtail…

The Treasury released its budget economic forecasts. What do they say about the economy over the next four months?

• Brian Easton writes –  

Let me begin me with an irritation. One post-budget headline was ‘Treasury optimistic over recession risk in Budget 2023‘. Treasury being optimistic is almost an oxymoron. They fire down the centre.

It is true that Treasury has lifted its forecast of economic activity (GDP) a little since its December 2022 exercise, reflecting stronger migration and tourism and the rebuild from the cyclones. Even so, it expects GDP per capita to fall fractionally between the June 2023 and June 2024 years. The next year is going to be tough, with some quickening of economic activity in the middle of 2024.

Moreover, while Treasury does not forecast the fans showing the degree of uncertainty in the forecasts, it provides guidance about its assessment of upside and downside…