Government will cut $800 million in new spending
You have to be joking. How much did we borrow last week? And the 100 weeks before that?
$800M from new spending is still increased spending.
An $8 billion cut in current spend is required to make a difference.
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Yes, truely laughable.
Someone needs to do a pie chart to show how miniscule it is in comparison to total government spending.
Only 8 Billion? But we're now borrowing upwards of $20 Billion per annum - and that will probably increase when the credit downgrades start.
To get the budget into balance, and pay to rebuild Christchurch we need to be looking at $30-$40 Billion cuts per annum.
That's all health, welfare, super & educating spending.
The whole damn lot.
The only serious question is: do we want to cut now under some kind of control - or have an alliance of the IMF & Wall Street rating agencies do it for us
Anon - that's $8 million.
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