Tuesday, November 08, 2011

Going backwards

National is trying to stand on its record as "good economic managers". But as Phil Goff pointed out today, that record leaves a lot to be desired. Goff lists ten of national's biggest failures:

  1. Unemployment increased by 50 per cent, leaving 157,000 people out of work.
  2. 100,000 Kiwis left for Australia
  3. Prices up nearly four times faster than incomes.
  4. First credit rating downgrade in 13 years.
  5. 60,000 more on benefits costing $1b
  6. Wage gap with Australia increased by $32 a week.
  7. 55,200 people aged 15 to 24 not in education, employment or training.
  8. Economy grown by just 0.4 per cent
  9. Tax cuts actually cost an extra $1.1b in their first nine months.
  10. Underclass grown with 32000 more children living on benefit dependent households.

National's response, of course, is pure denial. But these are facts, and namecalling doesn't change them. John key personally promised last election that he would close the gap with Australia, reduce the number of people fleeing across the Tasman, and help the underclass. He's failed on all three. Meanwhile, he and his government have failed to meet our expectations on how to handle a recession, sitting on their hands and letting people lose their jobs out of an ideological belief that the market should just be left to sort itself out. The consequences of that policy have been a disaster for New Zealand. Its time we held National to account for that.