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  • rmacculloch

Delay or scrap tax cuts? You must be joking. Is there no end to the economic nonsense Big Media spouts?

As we know, our Big Media companies refuse to accept the result of the General Election. The journalists who work for them have no interest in the democratic will of the people. They know how NZ should be - the view of NZ'ers is irrelevant to them. At present Big Media is waging a campaign against the tax cuts proposed by the National-led coalition, arguing the country cannot afford them. Even the NZ Herald's Fran O'Sullivan who is meant to be right-of-center says, "The rational choice would be to wait for revenues to restore and park the tax cuts until we can afford them". Meanwhile the deservedly bankrupting Newshub reports that, "A former Reserve Bank economist says the government's fiscal hole is so large that it is not the time for tax cuts". The quote is no doubt intended to help bolster Big Media's case that the government is illegitimate & shouldn't be allowed to do what it wants to do, since those who have been to Journalism School know everything and have decided its a bad decision.


So why would delaying or scrapping the tax cuts be an utter stupidity? Because they were formally promised by the National Party in the run-up to the election. Should the Nats not go ahead with them then the government would have no credibility. Being "credible" is defined as doing what you say you will do. Governments & central banks that break their promises cause economic chaos. Let's say a Central Bank loses its credibility. Then when it says it wants to bring inflation down, no-one will believe it and will think that it will keep printing money. Consequently people keep putting up prices - and inflation and interest rates go wild. So can you believe that Big Media & their "economic expert" mates are seriously arguing that the new coalition should shred all of its credibility by scrapping one of its most important pre-election promises? Should that happen, then none of us would care what Luxon, Peters or Seymour said anymore, since we would not take them at their word. It would be devastating to the implementation of all of their future plans. Its time that NZ Big Media stopped its utter nonsense and ended its campaign to make someone who keeps their promises look bad. Maybe breaking one's promise in that industry is par for the course.


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