National keeps claiming the reputation of the party that is “good with the economy”, but the facts tell a different story.
The “rockstar economy” was always a myth, and this week the bad economic news has kept on coming:
NZ Government books running $1.6 billion in the red as tax take disappoints
Lower than expected tax revenue has helped push up the Budget deficit to over $1.6 billion for the five months to the end of November. …
Some of that is probably hangover from working so hard to fake a tiny surplus last time. In other news:
Ratings agency downgrades NZ economy outlook
A leading international credit rating agency has downgraded its outlook for New Zealand’s economy, saying it doesn’t expect growth to be as strong as previously thought.
…
The latest ASB Housing Confidence Survey out today showed a 25 per cent drop in the number expecting rises.
It all started with the irresponsible tax cuts for the rich, and it all adds up to “More cracks in Government’s economic façade“…
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