Saturday 23 March 2024

"While Grant Robertson was talking himself up the result of his past six years as Finance Minister were clear for all to see."


"While Grant Robertson was talking himself up in Parliament [this week] about his wonderful political career and how proud he was of his achievements, the result of his past six years as Finance Minister were clear for all to see.
    "We've just fallen out of the world's top ten 'happiest' countries and are in recession, practically to the day he gave his farewell speech.
    "Our problems are largely due to Robertson's excessive fiscal expansion, done on borrowed money, during the pandemic, which amazingly was one of the largest in the world in spite of us having the least number of cases during that time of Covid compared to others. Why did Robertson not figure that our 2020 success in keeping the virus out meant that far less government borrowing & spending was required? ...
    "On top of one of the world's largest fiscal expansion, the Reserve Bank went mad & printed more money than virtually any other Central Bank. Those two decisions by Robertson & Orr threw NZ into the recession we are now experiencing today. By my account, we are one of only a tiny handful of nations on the planet in recession. Unbelievable. Robertson & Orr snatched economic defeat from the jaws of a Covid victory."

~ Robert MacCulloch, from his post 'The Day our Worst Finance Minister Ever Leaves Parliament, NZ falls into recession & drops out of the world's top 10 highest well-being countries.'

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