Dr Benno Blascke: The fire exit leads back into the building

Recently, during a select committee hearing on an infrastructure funding amendment bill, an MP asked for examples of infrastructure financed without government borrowing.

“Sure,” our chief economist Eric Crampton replied. “The Ngaio Town Hall, a lovely community effort.” Polite smiles.

I added: “The Auckland Harbour Bridge, one of our biggest projects.” Some nodding.