3 News political editor, Duncan Garner and 60 Minutes’ Guyon Espiner, former political editor for TVNZ, are joining forces for a 90 minute special on what both describe as a “tough budget delivered in tough times”.

Budget 2012 will bring viewers the definitive look at the 2012 Budget, including expert analysis on what the consequences will be for New Zealand business and for ordinary Kiwis.

Garner and Espiner will be crossing LIVE to Parliament as the Minister of Finance, Bill English, delivers his Budget. They will be joined by commentators on economics and politics, including business writer Fran O’Sullivan (NZ Herald) and economist Dr Ganesh Nana (BERL), Mark Weldon (former CEO of the NZSE), and Richard Wagstaff (National Secretary of the PSA), for additional insight.

Throughout the programme, Garner and Espiner will cross LIVE to Wellington to interview the opposition parties’ spokespeople, seeking their views on the Budget.

The special broadcast will be followed by comprehensive coverage in 3 News and Campbell Live, from 6pm, and 3news.co.nz/budget2012 will have continuously updated content.

Espiner says the European crisis will loom large in tomorrow’s Budget.

“In Europe, governments and their voters are clashing over cut backs, debt and unemployment as the argument rages over austerity versus economic stimulus.

“The arguments here might be on a different scale but they are the same arguments. This will be a hard sell Budget for Bill English,” he says.

Garner agrees: “With Europe tanking – the Budget’s forecasts may become quickly out of date.

“It’s another zero-budget which means there is no new spending. Every new dollar given to a certain area has been taken from somewhere else,” he says.

“What will that mean for Kiwi workers? Will the Government have to throw more money at our economy – or continue its drive to cut back?

“John Key now won’t rule out a second recession because of what is happening in Europe. We’re not immune to the meltdown.”

After many years of competing in the gallery, both journalists are looking forward to their first time working together.

“It’ll be great to work with Guyon – he’s a pro,” says Garner. “Hopefully with the two of us teaming up, we can shed some light on what will probably be a pretty dark Budget.”

Espiner adds: “I know what it’s like to compete with Duncan – I’m looking forward to finding out what it’s like to work with him.”

3 News Special: Budget 2012

2pm-3.30pm, Thursday 24 May on TV3 and streaming LIVE at 3news.co.nz/budget2012

- TV3

It’s also the same wreckage!

Check out a snapshot below:

Here is the full text:

–

1 x summary of figures

RWC slowdown

But iverall, it’s still shit

INTRO: KIWI WALLETS WERE FIRMLY CLOSED IN THE FIRST THREE MONTHS OF THIS YEAR, EVEN AT THE SUPERMARKET. NEW FIGURES SHOW “CORE” RETAIL SPENDING .. WHICH TAKES OUT CARS AND PETROL .. HAS HAD ITS BIGGEST THREE-MONTHLY DROP SINCE RECORDS BEGAN IN 1995 WITH SALES DOWN FOR CLOTHES, SHOES, DEPARTMENT STORES AND SUPERMARKETS. WITH ME NOW FOR SOME ANALYSIS IS MATT NOLAN FROM INFOMETRICS..

Questions:

- biggest fall since records began…is it as dire as it looks? or just a hangover from the RWC

- economic growth at the end of last year was weak DESPITE the boost from RWC…we now don’t have that boost – could it be worse…or negative starting this year?

- what’s it going to take to get people spending? would an OCR cut do anything to help?

- are any sectors really benefitting?

- the retailers that are doing better – is that through their own clever endeavour – or just in lucky sectors?

TALENT SAYS:

End of Cup spending

In the March quarter, the volume of core (nonautomotive) retail sales fell by 2.5% from December (seasonally adjusted). However, sales in the September and December quarters had been temporarily pushed up by the Rugby World Cup. After accounting for this, the

data shows that overall retail sales have been picking up at a moderate pace during the past year. But with unemployment elevated, we expect retail spending to rise only slowly during the rest of 2012.

Supermarket spending weakened significantly in the March quarter, with the volume of sales down 7.4% from December. Although a decrease following the Rugby World Cup was expected, this drop took sales volumes to their lowest level since March 2009.

The end of the RWC also took the wind out of growth in a number of other retail industries. In the March quarter sales volumes fell sizably for accommodation (down 5.0%), clothing and footwear retailing (down 1.5%), and department stores (down 1.9%).

Encouragingly however, the volume of durable good sales did pick up further in the March quarter. A lift in motor vehicle sales pushed durable good sales volumes up 2.5%, to sit 8.2% above their March 2010 level.

Durable good sales are still 11% below their March 2007 peak, so once households become more secure about their financial situation, there is considerable scope for a lift in durable good spending by consumers.

However, we do not expect a sizable lift in durable good, or general retailing, during the remainder of 2012.

Falling commodity prices and weak employment growth will limit income gains for New Zealand consumers in the coming months. With the European debt crisis continuing to bubble on, households will also remain unwilling to borrow – even in the face of record low

interest rates.

BACKGROUND:

http://tvnz.co.nz/business-news/retail-sales-down-kiwis-get-thrifty-4886323

Supermarkets, hotels and motels and petrol companies are suffering a nasty post-Rugby World Cup hangover, with sales volumes down in the March quarter.

The same sectors got a boost from the rugby tournament in the last two quarters of last year.

Statistics NZ figures out today show sales volumes in core retail sectors, excluding cars and fuel, were down 2.5% in the March quarter- the largest seasonally adjusted fall in the series since it began in 1995.

Including vehicles and fuel, volumes were down 1.5%.

“The industries that led this drop are the same ones whose sales were boosted during the Cup – supermarkets, accommodation, and fuel,” Statistics NZ industry and labour statistics manager Blair Cardno said.

“Although sales volumes have fallen, they are still above their pre-Cup levels.”

When the effects of price changes are included, the value of core retail sales fell 2% to $13.3 billion.

The value of total retail sales fell 0.8 percent to $17.4 billion.

In the March 2012 quarter, seasonally adjusted sales values fell 1.2% in the North Island (where all eight of the Rugby World Cup knockout games were played in the previous quarter).

South Island sales values rose slightly (up 0.3%).

More up to date monthly figures on electronic cards out last week showed consumers spent 0.6% more on credit and debit cards in April than in March.

David Cunliffe statement today:

A record fall in core retail sales is an ominous warning that a double dip recession could be on the cards, Labour’s Economic Development spokesperson David Cunliffe says.

Core retails sales volumes were down 2.5 per cent in the March 2012 quarter, the largest since records began in 1995. Supermarket sales fell 7.4 per cent, also the largest on record.

“For years we have been promised an ‘aggressive recovery’ is just around the corner.

“But it’s a corner that never comes. National’s so-called ‘brighter future’ is fast slipping into the never-never.

“Today’s Department of Statistics data shows the biggest drop in both retail trade figures and supermarket sales since records began 17 years ago,” David Cunliffe said.

“New Zealanders are not spending because they can’t afford to. It’s not hard to see why – real incomes are going backwards and unemployment is back up to 6.7 per cent.

“A zero budget couldn’t come at a worse time for the real economy. Zero budgets are what you get when the economy is failing.

A zero budget will make zero contribution to reviving this failing economy; it will drive zero new growth, zero new jobs and zero hope,” said David Cunliffe.

Parody of ‘Young, Wild and Free’ by Snoop Dogg, Wiz Khalifa, ft. Bruno Mars.

Facebook: http://www.facebook.com/OoshMultimedia

Twitter: https://twitter.com/#!/OoshMultimedia

Lyrics:
[Chorus]

So what we chill out,
So what we love sheep,
We’re just having fun,
And drink at 18.
So what there’s no jobs,
You can all go to Aussie,
But we’ll always be Kiwi.

[Verse 1]

So what I keep a stuffed kiwi on top of my drawer,
I chuck my jandals on fresh off the floor,
Head outside to play some cricket with the bros,
Chur bro,
Have a drink out the hose,
‘Cos the water’s fresh everywhere,
With four million tall,
We don’t need to share,
Yea we are small,
If you look at a map you won’t find us at all,
Not part of Aussie,
I’ve about had enough!
This is Aotearoa,
From Kaitaia to the Bluff.

You know what it feels like,
We won the cup again,
a big smile on my face,
looking for the case,
trying to find that bitter taste.
Got ID, the cops aren’t on my case,
but Veezy, you’re looking quite uneasy,
Irrelevant
Kicking back, fishing away,
mowing lawns for the rest of the day,
Beer is the pay,
the Kiwi way.
Planking like your life’s just a game,
silver fern, black shirt, Mr Waylon sing that chorus again.

[Chorus]

So what we chill out,
So what we love sheep,
We’re just having fun,
And drink at 18.
So what there’s no jobs,
You can all go to Aussie,
But we’ll always be Kiwi.

[Verse 2]

And we don’t even care, when we hear you Frenchies cheer,
it don’t matter, the World Cup is over here!

Farming everywhere we’re going, got the cash flowing,
Sheep, cows, trees and kiwis, we got ‘em growing!

Whakarongo mai, Maui fished this land,
looking for kai, he pulled the sun from the sky,
what a choice guy!

I come from the land of the long white cloud,
the Aussies took the pavlova but the lumps are ours!

Now I’m grilling, tuataras be chilling,
I got my barbeque, my saussies are sizzling,
Got my bike, no job, eight children,
Shop at Warehouse, got myself a bargain.

L&P, Bumblebee, TV3, Touch Rugby,
Watch with me, this is us, true kiwi,
and we’ll forever be, one big family.

[Chorus]

So what we chill out,
So what we love sheep,
We’re just having fun,
And drink at 18.
So what there’s no jobs,
You can all go to Aussie,
But we’ll always be Kiwi.

[Haka]
Haka, haka, slap your legs and we know how to party,
Haka, haka, smack your chest and we’re having fun,
so we just, haka, haka, stamp your feet and then pull your war face,
Haka, haka, and jump really high.

[Chorus]

So what we chill out,
So what we love sheep,
We’re just having fun,
And drink at 18.
So what there’s no jobs,
You can all go to Aussie,
But we’ll always be Kiwi.

Graeme Knowles – Director, Editor, Music, Camera Op
Alex Newbury – Second Camera Op, Actor
Brandon Woollett [B-Amazing] – Actor, Singer
Vincenzo Ritossa [BigVeezy] – Actor, Singer
Waylon Edwards [Mr Waylon] – Actor, Singer

Special thanks:
Ben Dol – Cricket Bro
Glen Mortan – Keys
Waylon Edwards
Vincenzo Ritossa
Joshua & the Woods family
Kate Eyles – Tattoo Design
Michael Gray – Fog operator & tattoo application

This product is a work of parody, based on ‘Snoop Dogg and Wiz Khalifa, ft. Bruno Mars’ – ‘Young Wild and Free’. Atlantic Records 2011. All original credit for the song towards the respected artists mentioned above.

© 2012 Oosh Multimedia Limited

Russell Howard’s Good News says it best:

Taken from 3 News 03/05/2012

The new channel will be an exact duplicate of TV ONE, broadcast an hour later.

Changing viewer habits have seen time-shifted channels develop as an internationally-established method of meeting viewer demands for greater flexibility – especially with News and Current Affairs. Long working hours, shift work and traffic problems have had an impact on the numbers able to watch the evening news in its traditional time slot, and there is now an identifiable global trend towards time-shifting by consumers.

TVNZ Acting Chief Executive, Rodney Parker, says “a ‘plus one’ channel aligns with TVNZ’s strategy of reaching more New Zealanders on more screens. TV ONE has been selected as the time-shifted channel to maximise exposure for the great local content, news and current affairs that it features”.

“Having already established a number of new channels over the past few years, including Channel U, Heartland and Kidzone24 the decision to broadcast a free to air ‘plus one’ channel was only made once we looked carefully at what other options might be commercially viable”.

“We believe that this is a desirable and appropriate use of the frequency that offers an additional opportunity for viewers, particularly those without PVRs, to fit their individual circumstances,” Mr Parker says.

The new channel will begin broadcasting at 7am on July 1. It will be offered on Freeview and details are still being finalised on which other platforms may also carry it.