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Wiseacre: 17th Dec. National has never achieved a budget surplus. All they have done is saddle future generations of Kiwis with billions in debt while knee-capping our ability to pay debt back by selling our assets and giving away tax cuts at a time the GFC and years of recession ahead were apparent for all to see. Prudent financial managers they are not.
The Christchurch earthquakes, soaring property values, and high milk prices have enabled National to cover up their lack of economic acumen and foresight, but what happens when the rebuild is done, the housing bubble bursts, and dairy prices plummet?
Asset plundering, undermining worker's rights, kicking beneficiaries, and selling out to large corporates is not a path to prosperity. Where is National's economic plan for the future? National have done nothing to diversify our economy and prepare for the challenges of the future, they are just leaving those problems for future administrations to sort out.
Economies should be judged on whether they deliver jobs and higher living standards to ordinary citizens. John Key's casual part-time economy only delivers wealth to those at the top, and is failing everyone else.
Cuzzie was always banging on about the current account deficit, and how National was fixing that. The GFC fixed it, as households were worried and started saving a small amount, instead of spending more than they earned. It wasn't National policy that started a turnaround in the proportion of the current account to GDP.