What seems a little thing, the Reserve Bank Act, is critical, and Winston has pledged to change it.
Australia, over the same time, has gone from bad to worse.
As anyone managing or owning a company knows, success depends on good management. A strong company can be wiped out by changing leaders. See Fletcher Building.
Winston wants to take New Zealand back to the economic methods of the 70s and 80s, and he and Jacinda want to slash nett immigration by 30,000 (Labour) or Winston to 10,000. In the last year 30,000 of the immigration figures were returning New Zealanders.
There is no doubt the pressure on housing in Auckland has been driven by the demand caused by these numbers. However, we in the outlying regions have been seeing an ever-growing stream of Aucklanders moving in and buying houses and building in our areas.
This has been a significant economic boost. Many of these people retain their jobs and work remotely.
Slashing immigration numbers to this extent, and disallowing foreign purchase of houses, will cause a massive collapse in house prices in the Auckland market.
This single action will create mayhem as demand evaporates and prices tumble. Many ordinary Kiwis will see the equity in their homes disappear.
The economic energy created by this immigration will dry up, and businesses throughout New Zealand will suffer.
Factor in reverting to the economics of 40 years ago (Winston) and attacks on the agricultural sectors (Labour and Greens) and we will have a perfect economic storm.
The massive projected spend will evaporate the hard-won surplus.
You are right Winston, the economy is in trouble.
DANNY SIMMS
Mangonui
