Key Takeaways
- The proposed UK law includes a new duty of transparency and candour, which could make a positive impact on governance in other countries if adopted.
- The lowering of the Official Cash Rate has both positive and negative effects, with the elderly being particularly affected due to their reliance on term deposits for safe investments.
- Politicians often make promises that are not kept, and the public is frequently taken for a ride by these unfulfilled promises.
- The City Rail Link project has been delayed again, and alternative uses for the tunnels could be considered, such as a tourist attraction or shelter for the homeless.
- Critical infrastructure projects, such as the ferry terminal, require careful planning and consideration of costs, and politicians should be held accountable for their decisions regarding these projects.
Introduction to the Proposed UK Law
The proposed UK law includes a new duty of transparency and candour, which would be enforceable by prosecution. This law would apply to ministers, making them subject to the new duties. If adopted in other countries, such as New Zealand, it could make a welcome difference to the way the country is governed. This is because the law would promote accountability and honesty in government, which is essential for building trust between the public and politicians.
The Impact of the Lowering of the Official Cash Rate
The lowering of the Official Cash Rate has both positive and negative effects on the economy. While it may be beneficial for some, it is not good news for the elderly, who rely heavily on term deposits for safe investments. The average cost of living for a couple is around $4600 per month, which is significantly higher than the superannuation payment of $3589 per month. This means that elderly couples need to have a substantial amount of savings to maintain a decent standard of living. Considering that paid interest attracts tax, a superannuitant couple would need to have around $400,000 invested to be on the same page as an ordinary couple. Furthermore, older people often have additional expenses, such as doctors’ visits and other health requirements, which can erode any advantage they may have.
The Problem of Unfulfilled Political Promises
Politicians often make promises that are not kept, and the public is frequently taken for a ride by these unfulfilled promises. The latest example is the Labour Party’s support for the government mega-strikers, which is seen as a political gambit to garner votes in the next election. It is unfortunate that the vast majority of government workers cannot see through this tactic and are being used as pawns in the political game. This highlights the need for greater transparency and accountability in politics, where politicians are held to their promises and are not allowed to get away with making empty promises.
The City Rail Link Project
The City Rail Link project has been delayed again, with the opening now scheduled for late 2026. The project has been plagued by delays and cost overruns, and it is time to consider alternative uses for the tunnels. One possible use could be as a tourist attraction, where pedestrians, cyclists, horses and carts, scooters, and jiggers for the elderly and disabled could use the tunnels. Additionally, the tunnels could provide shelter for the homeless and endangered bats and glow-worms. This would not only provide a unique tourist experience but also address some of the social and environmental issues facing the city.
Critical Infrastructure Projects
Critical infrastructure projects, such as the ferry terminal, require careful planning and consideration of costs. The decision to scrap the project was reckless and created chaos for New Zealand and dozens of companies that had already invested in the project. The Labour Party’s plan was costed at $1.5 billion, but the cost rose due to a law change requiring expensive earthquake strengthening at Kaiwharawhara. The project was paused to pursue cost-reducing options, but the election intervened, and the project was put on hold. It is essential to hold politicians accountable for their decisions regarding critical infrastructure projects and to ensure that they are transparent and honest in their dealings. The question remains whether the Kaiwharawhara site will be seismically strengthened, and it is crucial to get answers to this question to ensure the safety and viability of the project.