English: poll downgrade coming

Written By: - Date published: 11:13 am, October 4th, 2011 - 12 comments
Categories: bill english, Economy, election 2011, polls - Tags:

Bill English didn’t foresee the first downgrade of the country’s credit rating since the last time he was a minister but he can see some things coming. Here’s an interesting admission from Double Dipton (or should that be Double Downgrade?):

“That gap is almost certainly going to close. People haven’t been focused on politics recently. In the last month before the election there’s going to be an intense campaign, and when New Zealanders focus on it they always pull a government back a bit. The issues are pretty clear – a more competitive economy and getting back into surplus”

So, English is saying: people aren’t focused on politics, which is why the Nats are so high in the polls. When they focus on the main election issue of economic management, the gap will close. Not exactly a strong defence of his and Key’s performance as economic leaders.

Guess when your economic record is 47,000 fewer jobs, 56,000 more unemployed, $37 more debt, no growth, and a double downgrade, that’s just being realistic. Makes a refreshing change from this government, I suppose.

12 comments on “English: poll downgrade coming ”

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  1. queenstfarmer 1
    4 October 2011 at 11:44 am

    National has been publicly saying for months that the polls will narrow. I’m surprised you’ve only just noticed.

    • The Voice of Reason 1.1
      4 October 2011 at 11:58 am

      The quote comes from a story on 3News, Queenie. Apparently, the coming drop in the polls was a surprise to them, too, and they’re only a professional media organisation dedicated to bringing us news, opinion and National governments.

      ps, Zet, I think you’ve underestimated our debt by a factor of several million. If I was English, I ‘d be chuffed with a debt of only $37. Still wouldn’t be acceptable to Michael Cullen though, the last Finance Minister who actually knew how to run an economy and balance a budget.

      • Lanthanide 1.1.1
        4 October 2011 at 12:09 pm

        Several billion.

        • Draco T Bastard 1.1.1.1
          4 October 2011 at 12:37 pm

          Well, no, it was only a factor of 1 billion.

          • anne 1.1.1.1.1
            28 October 2011 at 9:43 pm

            Disasters aside,its the handling of the economy that should be the focus of this national
            govt by voters,but people see a smiley,wavey key and they feel all gooey,he must be chuffed
            and he knows he can get away with anything.
            There is one big revelation that if national win they are going to issue $35 billion dollars
            of govt bonds,costing the nz tax payer $100-$150 million a year,also not widely known
            is that the govt promised IMF $1.3 billion back in april,these are critical policies that
            will destroy our economy as we know it,they are serious and nz has no chance of ever
            repaying that sort of borrowed money,when english and key state they are still on target
            to pay down debt,this is how they are going to do it,the media should reporting on this
            or at least get key and english to face up to their secret plans.
            Selling assets for $6 billion profit,will only pay debt for 6 months,personally i am very worried
            as a citizen of nz should the nats get into power again.Also $1.5 billion govt bonds have already
            been issued through the national bank and westpac and were downgraded by fitch recently,this is not a good sign for nz’s financial stability for the future.

  2. Draco T Bastard 2
    4 October 2011 at 12:38 pm

    a more competitive economy and getting back into surplus

    So, Blinglish thinks having the economy costing more than it needs to and raping the environment is the way to go…

    Yeah, completely out of touch with reality.

  3. ghostwhowalksnz 3
    4 October 2011 at 6:18 pm

    Would love to see the look on English’s face, 3 days before the election and the polls say National 45%.
    There would be sheer panic

  4. Frank Macskasy 4
    4 October 2011 at 8:20 pm

    By the way, this little piece of Treasury* information might be of interest to folks…

    http://www.nzdmo.govt.nz/sovereigncreditratings

    Notice how NZ has been downgraded during Rogernomics? Downgraded when National was in office. And upgraded when Labour was guvmint.

    Well, well, well… can this be impartial evidence that LABOUR makes for a better fiscal manager than the Tories?

    * Treasury – the best friend the Left could have. Their data is like a stake through the heart of the Right. It shows that Emporer Key has no clothes…

  5. Red Rosa 5
    5 October 2011 at 10:11 am

    Botched. English complacent, when this open-ended scheme needed close monitoring.

    http://www.interest.co.nz/news/55946/auditor-general-says-treasury-lacked-financial-prudence-administering-crown-retail-deposi

    Even with Hubbard now out of the picture, the SCF saga has a long way to go.

    • Ed 5.1
      5 October 2011 at 11:23 pm

      SCF has been discussed a number of times, but one Labour candidate appears to have looked behind the spin:
      http://thestandard.org.nz/key-scf-excuses-fall-flat/
      At the time English decided to renew the scheme Treasury had been telling him that they were not complying with scheme requirements. He had the choice of not renewing, renewing only for current deposits, or giving hem an incentive to let those in the know get guaranteed very high interest rates. We may never know who ‘invested’ in SCF in those last “high return’ days . . .
       
       

      • anne 5.1.1
        28 October 2011 at 9:57 pm

        Also yesterday english and key quickley took over 6 companies of SCF and are putting them under government control as a business until they can sell them,i think they took them from’
        the recievers before they could look into them and get them ready for sale,it was in the paper,you gotta smell a rat here,they are hiding something.