Michael Reddell: Fiscal failure and indifference (with introduction by Don Brash)

Don Brash: This short analysis of the current fiscal position as compared with the fiscal position as projected shortly before the Labour Government left office is sobering.

Chris Hipkins and other Labour spokespeople are talking as if the current Government has cut government spending drastically, creating the “politics of austerity”. But over the next few fiscal years core government spending is projected to be as high as, or slightly higher than, that projected in Labour’s last Budget.

So much for the “politics of austerity”!

Michael Reddell was an economist of gradually increasing seniority at the Reserve Bank throughout my 14 years as Governor, and for more than 10 years beyond that. In my opinion, he is one of the most astute economists in New Zealand.