Losing streak
New Zealand has achieved amazing sporting success recently. Media have (correctly) claimed that, in sport, New Zealand “punches above its weight”.
But what pride do Kiwis have in economic achievements? Having just been in Queensland, the economic success and excellent infrastructure were obvious. The Australian Government just delivered back-to-back Budget surpluses, while New Zealand experiences ever-larger government deficits. Australia ranks 18th; New Zealand 28th on GDP-per-capita tables. It is obvious why many Kiwis (often our brightest and best) are leaving and seeking higher Australian living standards. In the economic arena, Kiwis punch below their weight and lack pride in their performance.
New Zealand’s productivity is terrible. House prices are too high. Our balance of payments and Budget are permanently in deficit. Savings levels are inadequate; the tax system a mess. We’ve recently seen inflation fall – a minor win – but have hardly started addressing our long-term economic deficiencies.
If the All Blacks lose, the country gets very agitated. Why no agitation about our inadequate economic performance?
David Schnauer, Milford.
Same old song
I’m very suspicious of Winston Peters’ tired, threadbare proposals for attracting foreign investment – but not foreign investors – into New Zealand.
It appears that Winston’s proposals are throwbacks to the economically gruesome 1970s/80s when it was thought that the benefits of foreign investment equalled the foreign exchange inflows that could be used to finance imports and government deficits. Then we got Peter Theil types. Now what we really want are entrepreneurial foreign investors with creative ideas who move here and finance their investments using domestic financial resources. Such people strengthen both our real and our financial economy. Winston, please take note.
Robert Myers, Auckland Central.
Scientific win
Your correspondent Peter Beyer accuses the coalition Government of not following “serious scientific research and data” (NZ Herald, October 22).
With respect to at least one item on their legislative agenda, they are, in fact, following soundly based and long-standing scientific recommendations.
That item is the overdue reform of the legislation around genetic engineering. Both Sir Peter Gluckman and Dame Juliet Gerrard advocated for such reforms during their terms as chief science advisor. The Governments they served chose not to act on their advice during their terms. The coalition Government is now doing so. National and Act both campaigned on the issue, and gained NZ First support in coalition negotiations.
Would Peter Beyer count Sir Peter and Dame Juliet among the “tame boffins of ... corporate giants” he alleges the Government prefers? I think they are both eminent public scientists who have given sound policy advice. On this issue at least, the Government campaigned for, and won, a mandate to act on that sound advice.
Colin Parker, Onehunga.
Fulsome fallout
At Monday’s post-Cabinet press conference, Prime Minister Christopher Luxon assured us that minister Andrew Bayly had apologised “as fulsomely as he possibly can”. As my dictionary is rather old, I checked online in case the meaning of fulsome has changed. The top three of five definitions are: 1. offensive to good taste, especially as being excessive; overdone or gross; 2. disgusting; sickening; repulsive; 3. excessively or insincerely lavish. How very instructive.
Michael Smythe, Northcote Point.
Moment of truth
Politicians are a type, no doubt about it, and it’s a job that demands plenty of gall. Was Andrew Bayly somewhat under the weather when he verbally lashed out recently? Well, you tell me. But it could well feature on a Tui billboard, with something like: “Did I tell the full story? Yeah, right”. If he had been completely honest, then why is he now like a cat on hot bricks?
Paul Beck, West Harbour.