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Black or Red?
Profile | Posted by | Options | Post Date |
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Huia | Report | 16 May 2014 04:55 |
NZ's Finance minister has just delivered his budget. He claims that the books are now in the black, but he says his next big target will be to tackle the country's debt. How can we be both in the black and in the red at the same time? |
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LadyScozz | Report | 16 May 2014 04:59 |
I think it's called creative accounting. |
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Persephone | Report | 16 May 2014 05:09 |
It was a question that was asked on our radio panel last night how can we owe and be in credit... and a Finance chap who is brilliant explained it all. I think I understand but don't ask me how it works.. we are okay here with our own build up of funds re taxes etc.. but we are not okay with our borrowing from overseas. |
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Huia | Report | 16 May 2014 05:59 |
We need to have a proper balance sheet for New Zealand Inc., showing all our assets and liabilities. |
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LadyScozz | Report | 16 May 2014 06:55 |
We have few assets left (in Oz). |
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Persephone | Report | 16 May 2014 07:50 |
Bernard Hickey is the chap Huia.. rides a bicycle everywhere and knows all about economics and he is the one person who comes on radio about the economy etc that I understand. Sometimes he is a panellists other times he is one of those that discusses when it is his subject.. we listen to National Radio at 4pm -5pm every afternoon. Stephen Franks and Duncan Garner were the panellists yesterday after the budget and Bernard was invited to comment. |
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Graham | Report | 16 May 2014 09:04 |
In order to reduce a debt you have to have more money coming in than you have going out. Hence you would be in the black. |
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Huia | Report | 16 May 2014 10:54 |
They have not reduced the debt, though, Graham. In fact it is considerably more than the so-called surplus. If you are in debt you are in the red. |
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Denburybob | Report | 16 May 2014 11:06 |
Gordon Brown was a master of creative accounting. I also notice that all governments never "spend", they always "invest". I have just "invested " in a new car. I don't expect to see a return on my money. Bob |