Kiwirail stimulation

Tim Watkin over at Pundit is writing some thoughtful left-leaning analysis of political matters, and broke the story on Wednesday that much of the $9 billion National spend-up – which allegedly puts us right up there in OECD spending to counteract the recession – is in fact, money already announced – mostly by the previous government.

The biggest irony?  That the buy-back of Kiwirail, derided by National in opposition, has now turned into part of their government’s “fiscal stimulation.” 

This is an important story for several reasons, and one that mainstream media had missed.  Since Wednesday Colin Espiner has picked up that there will be less state houses built now, not more.  And Vernon Small somewhat politely says:

Little of the package so far is “new money” but the real value of the package is in the pace of its implementation, especially – if it is achieved – the $100 million that will start before June 30.

While Roy Greenslade over in the UK opines against the unfairness of journalists who began reporting on the recession being blamed for it, I can’t help but feel here in Aotearoa the opposite is true.

If the National Government are claiming to be have the third highest fiscal stimulus package in the OECD in parliament, while in fact, according to Tim Watkin again, they are actually only spending an extra $1.65 billion over three years – then don’t the public need to know this?

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