Economy

It’s time for opponents of the TPP to stop the gesture politics and answer some questions - like what is the alternative you propose? Do you really believe we can stay out of the TPP on our own? And do you want to pull out of the agreement after it is signed?

Despite a summer of opportunity to read every clause of the Trans-Pacific Partnership, opponents of the TPP have failed to produce a clause showing the agreement requires each of us to surrender our first born to the corporate masters of neo-liberalism, and nor have they discovered any other nugget that sustains their vilification of the trade pact.

One per cent of the world's population now control half its wealth. 

The concentration of more and more resources in fewer and fewer hands has actually accelerated since the global financial crisis. This is no accident. It is the outcome of policy decisions made – or avoided – by political leaders either unable to learn the lessons of the crisis or unwilling to act on them.  

Since 2008, “middle-class wealth has grown at a slower pace than wealth at the top end. This has reversed the pre-crisis trend, which saw the share of middle-class wealth remaining fairly stable over time.”

TPP can help lift incomes in New Zealand but to make a difference for people, there’s a lot more work still to do.

 

The TPP was never going to be the miracle that shot New Zealand to the top of the global supply chain. Neither was it ever going to be the Darth Vadar of deals where American corporations got to destroy the planet. 

The deficit-funded tax cuts that National gave the high income earners is still being paid for by borrowing.

When National won office at the end of 2008, they had a mandate to give median income earners a tax cut 'north of $50 a week'. At the time John Key made that promise he explicitly pledged not to increase GST to pay for it.  

"National is not going to be raising GST," he fibbed. "What I am saying is if we do a half-decent job as a government at growing our economy I am confident that won't be happening."

Heh. "Half-decent."