New Zealand’s economy is shrinking, and while Treasury’s latest economic update predicts a rebound to 3.3% growth next year, recent data shows the economy contracted by 1% last quarter.
Damien Grant, writing for Stuff, warns the nation risks sliding into a low-income economy.
“Our default response to any crisis is increased government intervention paid for with higher taxation,” he writes, suggesting this approach is the root of the problem, not the solution. |
