Dr Oliver Hartwich: If I were PM - Fix the machine before the policies

On my first morning as Prime Minister, I would deliver a speech. It would contain no slogans or platitudes about becoming the best country in the world. Instead, it would be a stocktake, and it would not be a pleasant one.

I would tell New Zealanders what they already sense: the country has been slipping down the income rankings of the developed world for decades. The government’s books have been in deficit for years, and an ageing population will make both problems worse.