NZ Herald
  • Home
  • Latest news
  • Herald NOW
  • Video
  • New Zealand
  • Sport
  • World
  • Business
  • Entertainment
  • Podcasts
  • Quizzes
  • Opinion
  • Lifestyle
  • Travel
  • Viva
  • Weather

Subscriptions

  • Herald Premium
  • Viva Premium
  • The Listener
  • BusinessDesk

Sections

  • Latest news
  • New Zealand
    • All New Zealand
    • Crime
    • Politics
    • Education
    • Open Justice
    • Scam Update
  • Herald NOW
  • On The Up
  • World
    • All World
    • Australia
    • Asia
    • UK
    • United States
    • Middle East
    • Europe
    • Pacific
  • Business
    • All Business
    • MarketsSharesCurrencyCommoditiesStock TakesCrypto
    • Markets with Madison
    • Media Insider
    • Business analysis
    • Personal financeKiwiSaverInterest ratesTaxInvestment
    • EconomyInflationGDPOfficial cash rateEmployment
    • Small business
    • Business reportsMood of the BoardroomProject AucklandSustainable business and financeCapital markets reportAgribusiness reportInfrastructure reportDynamic business
    • Deloitte Top 200 Awards
    • CompaniesAged CareAgribusinessAirlinesBanking and financeConstructionEnergyFreight and logisticsHealthcareManufacturingMedia and MarketingRetailTelecommunicationsTourism
  • Opinion
    • All Opinion
    • Analysis
    • Editorials
    • Business analysis
    • Premium opinion
    • Letters to the editor
  • Politics
  • Sport
    • All Sport
    • OlympicsParalympics
    • RugbySuper RugbyNPCAll BlacksBlack FernsRugby sevensSchool rugby
    • CricketBlack CapsWhite Ferns
    • Racing
    • NetballSilver Ferns
    • LeagueWarriorsNRL
    • FootballWellington PhoenixAuckland FCAll WhitesFootball FernsEnglish Premier League
    • GolfNZ Open
    • MotorsportFormula 1
    • Boxing
    • UFC
    • BasketballNBABreakersTall BlacksTall Ferns
    • Tennis
    • Cycling
    • Athletics
    • SailingAmerica's CupSailGP
    • Rowing
  • Lifestyle
    • All Lifestyle
    • Viva - Food, fashion & beauty
    • Society Insider
    • Royals
    • Sex & relationships
    • Food & drinkRecipesRecipe collectionsRestaurant reviewsRestaurant bookings
    • Health & wellbeing
    • Fashion & beauty
    • Pets & animals
    • The Selection - Shop the trendsShop fashionShop beautyShop entertainmentShop giftsShop home & living
    • Milford's Investing Place
  • Entertainment
    • All Entertainment
    • TV
    • MoviesMovie reviews
    • MusicMusic reviews
    • BooksBook reviews
    • Culture
    • ReviewsBook reviewsMovie reviewsMusic reviewsRestaurant reviews
  • Travel
    • All Travel
    • News
    • New ZealandNorthlandAucklandWellingtonCanterburyOtago / QueenstownNelson-TasmanBest NZ beaches
    • International travelAustraliaPacific IslandsEuropeUKUSAAfricaAsia
    • Rail holidays
    • Cruise holidays
    • Ski holidays
    • Luxury travel
    • Adventure travel
  • Kāhu Māori news
  • Environment
    • All Environment
    • Our Green Future
  • Talanoa Pacific news
  • Property
    • All Property
    • Property Insider
    • Interest rates tracker
    • Residential property listings
    • Commercial property listings
  • Health
  • Technology
    • All Technology
    • AI
    • Social media
  • Rural
    • All Rural
    • Dairy farming
    • Sheep & beef farming
    • Horticulture
    • Animal health
    • Rural business
    • Rural life
    • Rural technology
    • Opinion
    • Audio & podcasts
  • Weather forecasts
    • All Weather forecasts
    • Kaitaia
    • Whangārei
    • Dargaville
    • Auckland
    • Thames
    • Tauranga
    • Hamilton
    • Whakatāne
    • Rotorua
    • Tokoroa
    • Te Kuiti
    • Taumaranui
    • Taupō
    • Gisborne
    • New Plymouth
    • Napier
    • Hastings
    • Dannevirke
    • Whanganui
    • Palmerston North
    • Levin
    • Paraparaumu
    • Masterton
    • Wellington
    • Motueka
    • Nelson
    • Blenheim
    • Westport
    • Reefton
    • Kaikōura
    • Greymouth
    • Hokitika
    • Christchurch
    • Ashburton
    • Timaru
    • Wānaka
    • Oamaru
    • Queenstown
    • Dunedin
    • Gore
    • Invercargill
  • Meet the journalists
  • Promotions & competitions
  • OneRoof property listings
  • Driven car news

Puzzles & Quizzes

  • Puzzles
    • All Puzzles
    • Sudoku
    • Code Cracker
    • Crosswords
    • Cryptic crossword
    • Wordsearch
  • Quizzes
    • All Quizzes
    • Morning quiz
    • Afternoon quiz
    • Sports quiz

Regions

  • Northland
    • All Northland
    • Far North
    • Kaitaia
    • Kerikeri
    • Kaikohe
    • Bay of Islands
    • Whangarei
    • Dargaville
    • Kaipara
    • Mangawhai
  • Auckland
  • Waikato
    • All Waikato
    • Hamilton
    • Coromandel & Hauraki
    • Matamata & Piako
    • Cambridge
    • Te Awamutu
    • Tokoroa & South Waikato
    • Taupō & Tūrangi
  • Bay of Plenty
    • All Bay of Plenty
    • Katikati
    • Tauranga
    • Mount Maunganui
    • Pāpāmoa
    • Te Puke
    • Whakatāne
  • Rotorua
  • Hawke's Bay
    • All Hawke's Bay
    • Napier
    • Hastings
    • Havelock North
    • Central Hawke's Bay
    • Wairoa
  • Taranaki
    • All Taranaki
    • Stratford
    • New Plymouth
    • Hāwera
  • Manawatū - Whanganui
    • All Manawatū - Whanganui
    • Whanganui
    • Palmerston North
    • Manawatū
    • Tararua
    • Horowhenua
  • Wellington
    • All Wellington
    • Kapiti
    • Wairarapa
    • Upper Hutt
    • Lower Hutt
  • Nelson & Tasman
    • All Nelson & Tasman
    • Motueka
    • Nelson
    • Tasman
  • Marlborough
  • West Coast
  • Canterbury
    • All Canterbury
    • Kaikōura
    • Christchurch
    • Ashburton
    • Timaru
  • Otago
    • All Otago
    • Oamaru
    • Dunedin
    • Balclutha
    • Alexandra
    • Queenstown
    • Wanaka
  • Southland
    • All Southland
    • Invercargill
    • Gore
    • Stewart Island
  • Gisborne

Media

  • Video
    • All Video
    • NZ news video
    • Herald NOW
    • Business news video
    • Politics news video
    • Sport video
    • World news video
    • Lifestyle video
    • Entertainment video
    • Travel video
    • Markets with Madison
    • Kea Kids news
  • Podcasts
    • All Podcasts
    • The Front Page
    • On the Tiles
    • Ask me Anything
    • The Little Things
  • Cartoons
  • Photo galleries
  • Today's Paper - E-editions
  • Photo sales
  • Classifieds

NZME Network

  • Advertise with NZME
  • OneRoof
  • Driven Car Guide
  • BusinessDesk
  • Newstalk ZB
  • Sunlive
  • ZM
  • The Hits
  • Coast
  • Radio Hauraki
  • The Alternative Commentary Collective
  • Gold
  • Flava
  • iHeart Radio
  • Hokonui
  • Radio Wanaka
  • iHeartCountry New Zealand
  • Restaurant Hub
  • NZME Events

SubscribeSign In
Advertisement
Advertise with NZME.
Home / Business

Steven Joyce: Covid, border controls and economic hangover. Buckle in for 2021

By Steven Joyce
NZ Herald·
25 Dec, 2020 04:00 AM6 mins to read

Subscribe to listen

Access to Herald Premium articles require a Premium subscription. Subscribe now to listen.
Already a subscriber?  Sign in here

Listening to articles is free for open-access content—explore other articles or learn more about text-to-speech.
‌
Save

    Share this article

    Reminder, this is a Premium article and requires a subscription to read.

Can New Zealand roll out Covid vaccines effectively? Photo / AP

Can New Zealand roll out Covid vaccines effectively? Photo / AP

Opinion

OPINION:

This benighted year is almost over, but it will cast a long shadow. We will be talking about 2020 for a very long time. The pandemic has dominated our lives for months and months and a simple year change won't alter that.

New Zealand and Australia compare very well with the rest of the world in handling Covid-19 to date. Our government has done a good job in managing the response, and was thus well rewarded at the October election.

However neither country should feel smug. There are many reasons we are experiencing a gentler pandemic, beyond going "hard and early". Remote countries in the Pacific can be sealed off much more easily than more heavily populated and economically consequential ones in close proximity to each other. Right now the EU and the UK have an almost impossible task trying to stop a new variant of the disease from crossing the English Channel. If the trucks and drivers don't operate between them, Britain quickly starts running out of food and other essentials.

Advertisement
Advertise with NZME.

We who have suffered nothing more than the inconvenience of no overseas travel and one (or two) lockdowns should give some thought this holiday season for New Zealanders who have borne a much bigger burden so we have the luxury of feeling safe.

The people whose livelihoods have been destroyed, and often their life savings too, when their industries were decimated by the border closures. Those who have lost their careers and are now in a much lower paid job or no job at all. Children who have had their education disrupted, and in some cases truncated, so they can support their families because traditional bread winners have lost their jobs.

Many have not been able to say goodbye to cherished family members, hello to new ones, or celebrate myriad other life events. Many life partners are separated either side of our national moat. To all those people we owe our thanks, support and understanding.

The year ahead should be approached with some trepidation. There is plenty of Covid still to play out, and of course there will be surprises.

Advertisement
Advertise with NZME.

The vaccine news is brilliant. The drug companies have done a magnificent job in a timeframe many of us didn't dare believe possible. These vaccines offer hope for the world, and particularly the virus-ravaged Northern Hemisphere.

Here in New Zealand there remains the challenge of rolling them out effectively, and associated decisions around lifting border controls, which will likely take much of 2021.

There are real unresolved concerns around the capability and culture of our Ministry of Health, which give cause for nervousness about the vaccine programme and the broader health response. The Simpson/Roche report into the Covid Surveillance Plan and Testing Strategy, released far too conveniently one week before Christmas, is damning about failures to date.

It shines a light on the damaging aloofness that the ministry has adopted for years in dealing with cross-government policy issues, from mental health to this pandemic. The new Health Minister might want to consider a root and branch reform of his ministry before he starts trying to merge DHBs.

The Government's approach to releasing the report was disgraceful. It was received on September 28 but kept hidden through the election and the rest of the parliamentary year. Ministers were clearly worried it might tarnish the public's view of their stewardship of the health system and the pandemic. Their actions likely put the final nail in the coffin containing the mantra of openness and transparency.

Decisions around lifting border controls will likely take much of 2021. Photo / Getty Images
Decisions around lifting border controls will likely take much of 2021. Photo / Getty Images

Another big unknown for the new year is what shape the hangover will take after the radical economic life support the world has been on.

We are all excited about the economic rebound, but the fiscal and monetary sugar hit that created it was off the charts. We are now in the middle of one of the greatest monetary experiments of all time. The worldwide money printing in response to Covid-19 dwarfs that of the Global Financial Crisis, which itself was unprecedented.

The international economic response is predicated on the notion that inflation is dead, and massive increases in money supply won't revive it. It's a big bet. If the mandarins are right we are likely headed into a period of slow growth and higher asset prices that will cause more political dislocation and risk social unrest. If they are wrong, things could get really ugly.

Advertisement
Advertise with NZME.

The bad news for our government is that some big policy tensions are about to appear here. The economic prescription it has adopted will worsen the issues it cares most about. The housing crisis will get worse, the poverty stats will get worse, unemployment amongst Maori, Pacific and young people will likely grow further.

Yet it has set its face against many of the growth enhancing policies that will help tackle these challenges. And aspiration and empathy without action will start to wear thin. Especially when there are no parliamentary impediments to government decision making.

Speaking of empathy, there's the small but significant matter of Parliament's Speaker proving to be the complete antithesis of kindness in his appalling treatment of a parliamentary staff member. The latest on that saga also dropped just before Christmas.

For my old political party there is a major rebuild to look forward to. As someone who had a part in the last such effort I can report it will involve a massive amount of hard work, and listening to the public. There are few short cuts. The principles of individual freedom, choice, free enterprise and personal responsibility will endure, as they do in democracies around the world. The challenge will be applying them successfully to the post-Covid world.

2021 is shaping up to be another big year. Thinking about it is enough to make us need a break. I recommend taking a good one. And then buckling in.

Save

    Share this article

    Reminder, this is a Premium article and requires a subscription to read.

Latest from Business

Premium
Business

Court to decide Du Val asset seizure orders

16 Jun 08:07 AM
Premium
Shares

Market close: Tourism Holdings jumps 57.5% on buyout offer

16 Jun 05:55 AM
Premium
Business

Little Island, plant-based ice cream company that raised millions, in liquidation

16 Jun 04:00 AM

Audi offers a sporty spin on city driving with the A3 Sportback and S3 Sportback

sponsored
Advertisement
Advertise with NZME.

Latest from Business

Premium
Court to decide Du Val asset seizure orders

Court to decide Du Val asset seizure orders

16 Jun 08:07 AM

Du Val reportedly owes $306m to investors and creditors, according to PwC.

Premium
Market close: Tourism Holdings jumps 57.5% on buyout offer

Market close: Tourism Holdings jumps 57.5% on buyout offer

16 Jun 05:55 AM
Premium
Little Island, plant-based ice cream company that raised millions, in liquidation

Little Island, plant-based ice cream company that raised millions, in liquidation

16 Jun 04:00 AM
Premium
How worried should we be about economic fallout from the Israel-Iran conflict?

How worried should we be about economic fallout from the Israel-Iran conflict?

16 Jun 03:31 AM
Gold demand soars amid global turmoil
sponsored

Gold demand soars amid global turmoil

NZ Herald
  • About NZ Herald
  • Meet the journalists
  • Newsletters
  • Classifieds
  • Help & support
  • Contact us
  • House rules
  • Privacy Policy
  • Terms of use
  • Competition terms & conditions
  • Our use of AI
Subscriber Services
  • NZ Herald e-editions
  • Daily puzzles & quizzes
  • Manage your digital subscription
  • Manage your print subscription
  • Subscribe to the NZ Herald newspaper
  • Subscribe to Herald Premium
  • Gift a subscription
  • Subscriber FAQs
  • Subscription terms & conditions
  • Promotions and subscriber benefits
NZME Network
  • The New Zealand Herald
  • The Northland Age
  • The Northern Advocate
  • Waikato Herald
  • Bay of Plenty Times
  • Rotorua Daily Post
  • Hawke's Bay Today
  • Whanganui Chronicle
  • Viva
  • NZ Listener
  • Newstalk ZB
  • BusinessDesk
  • OneRoof
  • Driven Car Guide
  • iHeart Radio
  • Restaurant Hub
NZME
  • About NZME
  • NZME careers
  • Advertise with NZME
  • Digital self-service advertising
  • Book your classified ad
  • Photo sales
  • NZME Events
  • © Copyright 2025 NZME Publishing Limited
TOP