Opinion

PATTRICK SMELLIE: Watch as a country eats its own fat

Pattrick Smellie
Thu, 17 Sep 2020

Pattrick Smellie
Thu, 17 Sep 2020
The most dramatic numbers in yesterday's pre-election fiscal and economic update are those showing what happens when a government spends to fend off a crisis, the economy shrinks dramatically anyway, and tax revenues plummet accordingly.They’re contained in a single line, titled “net worth” and they amount, in accounting terms, to a starving body eating its own fat.In June 2019, the net worth of the assets and liabilities measured on the government’s balance sheet showed a positive balance of $143.3 billion. In other...

Use the information you’ve already given Google to create your subscription.

Not convinced yet?

Subscribe to our Daily News Update free newsletter.

Technology
Rocket Lab close to deal with US acquisition company — report
Staff reporters | Mon, 01 Mar 2021

Deal to take company public would reportedly value the US-New Zealand start up at US$4.1 billion.

Economy
Change self-isolation payments - Eaqub
Victoria Young | Mon, 01 Mar 2021

Shamubeel Eaqub says leave support payments should be linked to income if we want people to stay home.

Markets Wake Up Call
Auckland locked down again; bond markets cool down
Staff reporters | Mon, 01 Mar 2021

The NZ dollar is down sharply this morning after a shift back to ‘haven’ currencies and a drop in global bond yields over the weekend.

Sponsored
ASX in NZ: Capitalising on our ‘liberty of distance’

The tyranny of distance had prepared New Zealand corporate leaders well for the pandemic. We were already adept at running global businesses from afar, and as the world locked down, our remoteness became somewhat moot and the rest of the world began operating almost as remotely as we had always done.

Sponsored
How consumers can give local businesses a boost

Why this holiday is different for New Zealand SMEs.