NZCPR Newsletter: Good Policy Requires Courage

When the Coalition became Government in 2023, their priority was to reverse the devastating social and economic impact of the former Ardern-Hipkins Government. Their failings were universal, but particularly evident in the economy.

As a result of Labour’s six years in office, Core Crown expenditure escalated from 27 percent of GDP in 2017, to almost 35 percent, and net core Crown debt more than doubled from below 20 percent, to over 42 percent.

Labour’s profligate spending and excessive borrowing had plunged the country into hyperinflation followed by a double-dip recession.