Only a slashing of government expenditure or an increase in borrowing will enable National to make its planned tax cuts after Treasury yesterday reported that years of financial surpluses will turn into deficits until 2013 at least.
A record number of entries have been received for the 2008 Westpac Otago Chamber of Commerce business excellence awards.
The massive upheaval in northern hemisphere financial markets will continue while the United States' $US700 billion ($NZ1.07 trillion) rescue plan for Wall Street, passed on Saturday, is implemented.
New Zealand First leader Winston Peters went on the attack yesterday and the National Party, its leader John Key and the Maori Party bore the brunt of his venom.
It is clear that investors in almost all sharemarkets are punch-drunk as they have been mercilessly hammered from all directions ever since the so-called credit crunch struck, WHK Taylors tax principal Scott Mason said.
It could take at least several weeks for the United States Treasury to begin buying bad debt, following the passing into law of the $US700 billion ($NZ1.05 trillion) Wall Street rescue passage.
Wanaka businessman Bob Robertson is still confident his multimillion-dollar Pegasus town development, north of Christchurch, will be completed.
Helen Clark is confident that any animosity in the Dunedin South electorate over the selection of Clare Curran as the Labour Party candidate is on the wane.
New Zealand investors remained nervous this morning ahead of the vote tonight on the $US700 billion ($NZ1.05 trillion) rescue package for Wall Street as share values headed south on opening.
The massive $US700 billion ($NZ1.06 trillion) rescue plan for the United States' financial system came a step closer to completion yesterday.
Revenue Minister Peter Dunne is warning National Party leader John Key not to over-promise on tax cuts when he releases National's tax package next week.
Meridian Energy and Solid Energy provided their owner, the Government, with a welcome boost yesterday when they both declared dividends despite reporting lower profits.
The importance of the elderly vote to the chances of New Zealand First returning to Parliament after the election has become vital to leader Winston Peters.
Financial markets rallied yesterday in anticipation that the financial rescue deal being put together in Washington will succeed.
The banking system was sound in New Zealand and the Reserve Bank did not expect that situation to alter, governor Alan Bollard said.
The opening of the Government's books on Monday will mark a substantial turnaround in fiscal fortunes, presaging a shift from operating surpluses to operating deficits for the first time in 14 years.
The National Party will almost certainly have a Dunedin-based list MP after the next election to replace Katherine Rich, who is retiring from Parliament.
The NZX-50 followed the lead of Wall Street this morning, providing some relief to beleaguered investors.
Horrified investors watched their wealth erode yesterday as volatile global markets slumped after the failure by United States politicians to reach a deal on rescuing the financial system.
Higher interest and depreciation costs associated with the terminal redevelopment cut into Dunedin International Airport's profit for the year ended June.
