OPINION
Are we partying our way into a recession? That’s what last week’s card spending data seemed to suggest. While there were signs of moderation around retail spending, the amount we’re laying out on travel and hospitality is hitting new heights.
Aren’t we supposed to be putting away our payWave cards and saving up for an impending rainy day? That’s what Reserve Bank governor Adrian Orr has been telling us to do since at least December.
If we don’t slow down on the spending then it’s going to mean higher interest rates, a deeper recession and more job losses — that’s the message. Some of us clearly aren’t getting it. (Opinion, Monday)
Read the full story: Liam Dann: When will the post-Covid party stop?
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Well it may only be hurting a few. With the amount government is spending on its reforms and throwing money about, I guess it’s make hay while the sun shines. Some are in the land of plenty.
— Cheryl P
Spending up large? It’s probably the teenagers who are living at home earning $22.70 an hour with no expenses. Even by doing only 10 hours a week, they are walking away with $199.70 in their hands. Bring back youth rates.
— Grant P
In response to Grant P: $200? That’s a peanut in this age. I was earning the equivalent of that per week milking cows in 1987 and on top of that I had free board and lodging.
― Marcus A
On a quick read of [the Herald on Sunday], I notice a couple of big spenders. First up, the Māori Health Authority is spending more than $1.15 million a month on contractors and consultants instead of frontline staff. Then we have taxpayers forking out $1.2 million a week on a gravy train of consultants to keep the wheels turning on the Government’s $14.6 billion light rail project in Auckland. Yes, I agree that “some of us clearly aren’t getting it”.
— Vernon A
We are in a wage/price spiral now. Chippy and Robertson don’t want to admit it and are therefore continuing to exacerbate it with minimum wage and benefit hikes. Robertson claimed he was going to prevent the inflationary effects of increased wages by increasing productivity. Perhaps you could ask him what his plan is for that.
— Helen A
In response to Helen A: Unfortunately, there is no increase in productivity. You suddenly don’t grow six extra arms and more feet waiting for restaurant tables. In fact, productivity has gone down. Restaurants and hotels can’t operate at capacity due to worker shortages. We will have higher costs of goods sold and sell less, which ultimately will mean hard times.
— Lucy L
Liam writes “some of us aren’t getting it“ — the ongoing money being spent on the cancelled TVNZ merger might be a good example of that.
— Potter O
The real question that needs to be asked is, when will the Government stop borrowing and wasting billions of dollars with no accountability? Right now, New Zealanders are getting less “bang for our bucks”: the worth of our money is draining away right before our eyes.
— Sara M
The public’s spending results from ongoing rampant government spending, things would be different if they lead by example.
— Geoff W
Why blame taxpayers for a problem the Government created and the Reserve Bank followed whole-heartedly?
— Julia K
Sadly, the Govt doesn’t get it either. It keeps spending and borrowing beyond its means, fuelling inflation. One of the key reasons given for the latest OCR increase was high Govt spending.
— Paul G
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