NZ is divided, not united

Any fiscal consolidation path by the Government requires a degree of social cohesion, Cameron Bargie writes. (Image: Getty)

Cameron Bagrie

Tue, 24 Sep 2024

Westpac economists released a really good piece last week noting that while New Zealand’s sovereign credit rating is one of the highest in the world, “external and fiscal metrics mean that NZ is vulnerable to a future downgrade, especially if a large negative shock to the economy was to occur”. I would add stagnant economic growth on a per capita basis to the vulnerability list. If per capita growth is stagnant or weak, governments do not have a rising funding base to draw on to meet spending demands. The potential f...

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