Colin Espiner sums up the root of New Zealand’s problems:
It’s been said that the New Zealand economy is likely to be the “rock star” of 2014 but we all know what happens to rock stars who spend all their money on having a good time. I’ve said it before – the only way we’re going to become a top-tier First World country is by growing the pie.
Sadly, we’ve always been much better at eating them.
Any party which promises to spend more and tax more without growing more and which is more focussed on eating the pie than growing it will give us more than economic indigestion.
New Zealand’s growth is good by international comparisons but its fragile and its young.
We need sustained growth and responsible policies which promote that or we’ll be right back where we were at the end of Labour’s last term in government – in a recession of our own making.