I would have thought that it is still far to early to tell if the Govt has failed.
Plans for business have hardly started and it is a moving target.
Printable View
Given the large numbers of SMEs that fail each year in NZ perhaps it would be difficult to decide who should be supported ? https://nzbusiness.co.nz/article/fail-expos%C3%A9
westerly
As of this afternoon, NZ's infection rate was 293 ppm vs Australia's 264 ppm - both very good figures when you compare with say, Germany's 1731 ppm or 54.7 ppm death rate, with Germany now easing out of their lockdown.
As for how Labour is not helping the SMEs, that's actually the point make by Bob Jones - that Labour will not survive the horrendous economic fallout, irrespective go how popular the PM is.
In a climate where it has become very challenging to predict what the world might look like, I appreciate the various views and opinions of those on this forum which is helping to inform my own.
Time will shortly tell which pathway this Government will take in terms of the lockdown and its duration. Regardless of that decision, I see Level 3 as only having a mildly positive impact on the economy.
I'd be happy to extend Level 4 by two weeks, thus providing us with more data and hopefully more certainty regarding our attempts to eradicate the virus. However, following that, I think the Government should implement a more tailored approach to balancing the health and economic impacts of their response:
- The fatality rate is clearly significantly higher in those over 65. Extend the lockdown for those over 65 and set up the required infrastructure and systems to accommodate this (for example, tax-payer funded food delivery schemes and other such measures to provide them with the necessities of life... sign them all up for Netflix if we have to). The cost of such measures would be materially lower than the economic costs being shouldered by the population as a whole - not to mention those over 65 still receive their superannuation cheque (and winter energy kicker) regardless of whether businesses are open
- Move those under 65 to level 2. What worries me most is the future cost of the lockdown. We can all joke about millennials and their tendency to prioritise smashed avo over home ownership but things are about to get significantly harder for this demographic: (a) lack of jobs, many of which are also being progressively disintermediated by technology and cheaper global labour (albeit the latter may not have as much impact in the short-to-medium term); (b) the aging population that continues to age... and the superannuation payments that will need to fund it; (c) impending increased taxes and/or inflation from printing money; (d) limited ability for them to undertake an OE and secure the fruits of doing so (i.e. global experience) for at least the next 12 months (if not longer)
Will be interesting to see how the above comments age... not an immaterial risk they lead to some embarrassment on my part. Regardless, I'm happy to own them.
Of course it is based on a restriction of movement and activity, but such restrictions are themselves based on a risk assessment and what is best for the country and in that regard Sir Ten is correct that there is a significantly higher mortality rate the older you are. All our deaths are of people over 70. I believe his suggestion of restrictions being greater if you are older is of much merit and from memory has been implemented in some countries.
I applaud the government's response so far. What is announced tomorrow will have risk attached to any decision. Despite what some may imply, it will not be a decision of only 1 person and will be one in which science, health and economic advisors will have provided opinions.
zacman
How about all of them ?
There couldn't be a stronger case than Govt's orchestrated close down would have
adversely affected all of those affected, even those just sitting on edge immediately prior to
lock down
The Govt Wages Subsidy didn't differentiate between them, so there would appear to be no
valid reason that any badly needed wider support package should either..