That is the theme song Bill English and Peter Dunne are probably humming to themselves, after the IRD won a court case with the BNZ, resulting in a judgement for the Crown of $645 million, and a potential precedent for the total $2.4 billion in dispute.
The decision will of course be appealed all the way to the Supreme Court, so Bill and Peter shouldn’t rush to the mailbox to look for a cheque.
With credit rating agency Fitch placing NZ on negative outlook, the Government will want all the money it can get. The potential downgrade reinforces how vital it is to keep the pressure on low quality spending to prevent a downgrade that will cost consumers, businesses and taxpayers. This shows how reckless Labour’s contnual demands for more spending are.Tags: credit rating, government spending, IRD, tax