Treasury is suggesting that the recession is over.
If it is we’ve wasted it.
The government has used the recession to start cutting back its expenditure and examine potential changes to its income.
But it’s only a start.
New Zealand was in recession before the rest of the world in spite of record payments for dairy products which play a very significant role in our economy.
I don’t think the fundamental problems which led to that early start to the recession have been fully addressed yet.
Unless they are our economic growth will never reach its full potential.
Until that happens we won’t be able to afford the first world lifestyle – including health, education and other social services – to which we aspire.