COMMENT:
It's known as the Hyefu, or the Half Yearly Economic and Financial Update, pronounced Hi-foo. Watching Grant Robertson bounding to the podium in the media lock-up at Treasury you could be forgiven for thinking he was delivering an economic high-five, so enthusiastic was he about being a big spender.
Twelve billion bucks is being borrowed to lift spending on infrastructure to its highest level in more than 20 years. The lion's share of it, almost $7 billion, is to be spent on roads and rail - but we're being kept in the dark until next year about how the money's going to be apportioned and which projects will be targeted.
Robertson assures us the projects are "shovel ready" - that's if they can find anyone to start digging. A single line in the voluminous reports summed it up: The labour market is tight and some resources will likely need to be reallocated to meet the increase in demand.
That's the trouble with this country, finding people to do the job. Fact is, the Government doesn't need more jobs created, it desperately needs more people to fill them.
