Peter Harris' lecture providing a context for the 2010 Budget was well received in both Auckland on Tuesday and Wellington on Wednesday. He offered the perpective that, despite the traditional rhetoric and posturing, any Budget has little to offer as an instrument of change for any Government, so don't expect big things from this one.

However, Peter did identify critical pressures on the economy and tax system that were fundamentally misrepresented by the Tax Working Group and are to be ignored at our peril. The TWG's flawed analysis and selective recommendations are to form the basis of a 'ruse to cut working for families by stealth', while 'the rich don't pay taxes anyway'.

The paper that forms the basis of Peter's lecture is available for download here.