
Sir Roger Douglas, Freedom Torch Awardee 2026

Sir Roger Douglas, Freedom Torch Awardee 2026



Today is 40 years to the day since Rob Muldoon called the snap election.
Which then, of course, led to his defeat. Which then, of course, led to the incoming Labour Government, realised we were nearly broke as a country. Which then led to them embarking on the most amazing set of reforms which they do not get enough credit for to this day - and get way too much grief for.
It is a really interesting anniversary for us to mark right now - as we find ourselves in a recession that feels like the worst that many of us have ever experienced. As we watch old names in New Zealand, like Smith and Caughey give up. As we see projections that the country's debt will just keep growing.
The problem is demography. While retirees currently number around 800,000, between 2060 and 2070 they are expected to approach 2 million. At that time, the number of workers per pensioner, will fall from around four to one today, to just two to one.
Roger Douglas, former Labour Finance Minister and co-founder of the Act Party, is plainly unimpressed with modern politics.
“Look at the last 20 years, you tell me anyone, any Government that’s done anything,” he says.
Douglas, now 86, probably has more right than most to make that claim, having been the key driver of an economic revolution in his four years as Finance Minister, from 1984 to 1988.
To many Kiwis it was a revolution that saved the country from bankruptcy, pulling it out of a spiral of debt and depression.
“The bedrock of any successful democracy is that it delivers government of the people, by the people, for the people. In the case of our current government, and too many other western democracies, this once abiding principle has been subverted. We now have government of the people, by the government, for the government.”
– Sir Roger Douglas 2023
How on earth has a fiercely independent nation like New Zealand, with its number eight fencing wire heritage and strong pioneering spirit, reached a point where The Government is doing almost everything for us – including feeding our children?
It’s a well-known pattern in public policy – profligate politicians damaging their economies with out-of-control spending, massive borrowing and higher taxes – inevitably leading to fiscal crisis, sharp declines to growth and ultimately rapidly falling currency value and living standards.
How do countries recover from such negative downward policy spirals? The answer is bold and quality “structural reform” to right size government, eliminate special interest privilege and create an environment for strong private sector growth.
The following article was written in 1990 by Sir Roger Douglas, who was the finance minister in the Lange Labour Government between 1984 and 1988. He was the driving force in rescuing his country from financial collapse with bold structural policy reforms which became known as “Rogernomics”. Sir Roger was voted as one of the most influential New Zealanders of the past century.
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