Cheap petrol has driven down the cost of living in the first three months of the year, pushing the annual inflation rate to a 15-year low.
The Consumers Price Index, a measure of inflation, declined by 0.3 per cent in the March quarter, Statistics New Zealand figures show. . .
Inflation erodes the real value of investments, the only good inflation is low inflation.
And another piece of good news Team New Zealand won’t receive any more public funding:
. . . Prime Minister John Key told TV ONE’s Breakfast this morning “I think it means the end of the road for any more government funding”.
“Realistically for us to get value there needed to be exposure for the America’s Cup team, there will be some obviously in Bermuda, but we think in our assessments it’s significantly reduced if the event is not hosted, in some way, in New Zealand.”
He said it would be “very difficult” to get the public to favour more tax payer dollars being sunk into Team New Zealand. . . .
More than difficult, it would be all but impossible to convince people that funding what most regard as a rich man’s sport and a team which appears to be dysfunctional would be good news of public funds.