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What does NZ need to do to get out of recession? 

Summarised by Centrist

NZ’s moribund economy has officially tipped into recession. The fixes aren’t easy. Political commentator Grant Duncan, Ph.D. says that Kiwis need to get better educated, upskill and invest in infrastructure and R&D in order to keep the best and brightest from leaving…and perhaps treat the inmates a little better.

Finance Minister Nicola Willis says tax reductions will not necessitate further borrowing, but the last government’s alleged budgetary “booby-traps” may have left Willis with tough choices. 

The International Monetary Fund is calling for tax reforms, improvements to infrastructure, and education across the board, in addition to “skills matching” to boost productivity. NZ will have to invest in opportunities for educated young people, to prevent them from leaving. 

There’s also calls to help Māori close the unemployment gap by expanding training opportunities. Duncan calls that a great suggestion: “(T)he coalition government needs to come up with something more useful than just punishing beneficiaries who don’t try hard enough.” 

He gives some kudos to efforts to equip prisoners with basic skills pre-release, addressing recidivism. 

“The punitive attitudes of conservative Kiwis have stood in the way of any perceived ‘benefits’ going to people convicted of crimes. Even heating their cells has been a cause of intense resentment,” he quips. 

Read more over at Politics Happens

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