Below is a graph of NZ government foreign debt over the last 20 years. Since John Key took power NZ government foreign debt has exploded higher from around $20Bln to around $50Bln. This figure excludes domestic government debt, which I think is around another $10Bln and also excludes the billions they made from asset sales. Net of asset sales you are talking of a figure around $40Bln increase! Of which around $10Bln has gone into CHC recovery, so no one is criticizing that. But what has happened to the other $30Bln? Where has it gone? This government claims to be great fiscal managers, they are nothing like it & getting this country into hock at an unprecedented rate. And this is after a dairy export boom like this country has never seen before & cutting budgets to things like DOC & disabled funding. We now face an economy that will weaken due to lower export prices, we are yet to feel this, however we have accrued debt of higher asset prices & that becomes a lot harder to service of lower asset prices. The GST take is about to take a massive hit as farmers stop spending. This is going to get ugly.
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