Budget 2020: Missed opportunity says Te Taumata

Budget 2020: Missed opportunity says Te Taumata

Te Taumata has adopted the term, ‘The Missed Opportunity Budget’, following yesterday’s Budget 2020 announcement by the government.

Chair, Chris Karamea Insley, says he would grade the budget a ‘B’ – barely a pass mark. He says it lacks a clear narrative or strategy of what the end goal is.

“This budget is not visionary,” he says. “We see a random splash of money and a race back to business-as-usual. There’s a missed opportunity to genuinely partner with Maori post-lockdown and beyond. In fact, there’s scarcely any mention of Maori or iwi in the document at all.

“And other than some rats and mice on pest control, there’s nothing on climate change, which is very disappointing.”

Mr Insley agrees the government can afford the fiscal policy. New Zealand’s current debt is 20 percent of Gross Domestic Product (GDP), while other countries are at 50 to 80 percent of GDP.

“Our interest rates are very low so we can afford it. Our GDP debt is projected to get to 50 percent under this plan, which is still much lower than other countries. We can afford a massive recovery plan, but they can’t.

“Governments use balance sheets strategically to massively inject cash into the economy with a focus on job creation when interest rates are at an all-time low – which is a big tick in my books. New Zealand still holds AA with world ratings agencies, so the Opposition is simply wrong with its claims of unaffordability,” says Mr Insley.

While unimpressed Budget 2020 has no reference to partnership with Maori, he says a total of $666m of new spend in the next 12 months in the primary, regional development, tourism, science and innovation sectors, along with trade and retooling business support and the extension of wage subsidies will create jobs for our Maori whanau.

“Implementation of the budget will require strong leadership and a whole-of-government effort. However, I have incredibly low confidence we’ll see this across the ministries. Rather, a bumbling and clumsy execution.

“Te Taumata has been a strong and vocal supporter of Prime Minister Jacinda Ardern and her leadership navigating our nation through lockdown. And we stand by this. But going forward, our support for this government will be more muted.

“I’m reminded of the words of wisdom of our past and present Maori leaders – ‘kia kaha, kia manawanui. Be strong and be patient’. We have an election this year,” says Mr Insley.



Canadian Council for Aboriginal Business

CCAB delivers programs that facilitate the growth of Indigenous business, build relationships between Indigenous and non-Indigenous business, and ensure life-long learning for Indigenous entrepreneurs, and other Canadian business leaders. These efforts recognise the central role that Indigenous business and communities hold in the future of Canada.
Our mission is to promote, strengthen and enhance a prosperous Indigenous economy through the fostering of business relationships, opportunities and awareness for all of our members.

Ministry of Foreign Affairs and Trade

The Ministry acts in the world to make New Zealanders safer and more prosperous.
E mahi ana te Manatū i te Ao kia whai haumaru me te whai rawa mo Aotearoa.
New Zealand’s security and prosperity depend on the conditions in, and our connections with, the wider world. This means we must engage with – and seek to influence – other countries to our advantage, in line with New Zealand’s values and interests including that of Maori.

New Zealand Trade and Enterprise

New Zealand Trade and Enterprise (NZTE) is the government agency charged with helping New Zealand businesses to grow internationally.
We use our extensive knowledge and global networks to help exporters of all sizes make better decisions and connect to the right partners and investors.
We connect international businesses and investors with high-value growth opportunities in New Zealand.
By supporting New Zealand businesses, we boost New Zealand's economy and reputation, and help to share what's special about New Zealand with the rest of the world.

Callaghan Innovation

We are New Zealand's innovation agency. We activate innovation and help businesses grow faster for a better New Zealand.
We partner with ambitious businesses of all sizes, providing a range of innovation and research and development (R&D) services to suit each stage of growth.
Our people – including more than 200 of New Zealand’s leading scientists and engineers – empower innovators by connecting people, opportunities and networks, and providing tailored technical solutions, skills and capability development programmes, and grants co-funding.

Ministry of Business, Innovation and Employment

Ministry of Business, Innovation and Employment (MBIE) plays a central role in shaping and delivering a strong New Zealand economy.
Our role is to create better outcomes for all New Zealanders, particularly by supporting business growth.
We are responsible for the delivery of advice, regulation and services that have a real impact on people, businesses and the environment within which they operate.