Lessons from abroad

12 comments on “Lessons from abroad ”

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1. Paul 1

   8 October 2012 at 7:28 am

   Wonder if Stephen Joyce will them them their economic policies are ‘half-baked’ and ‘panicky’ – as he described the Greens’ proposals on RNZ this morning!
   • marsman 1.1

     8 October 2012 at 8:27 am

     Mr Potato-head Steven Joyce has done nothing positive for NZ but has handed out taxpayer money to Mediaworks and roading consultants and decreed the building of needless convention centres and spouted bullshit. He is a Hollow Man and his sole aim is to screw NZ.
     • Bob 1.1.1

       8 October 2012 at 11:30 pm

       And had that loan paid back 2 years early at 11% interest, sounds like a bloody good deal for all of NZ to me!
       With regards to the Auckland Convention Centre, didn’t Helen Clarke once say “In Auckland, Sky City has pumped $140 million into its new Convention Centre, and Auckland City has rebranded and upgraded its convention facilities … Here in New Zealand it has been pleasing to see continuing investment in the quality of our tourism infrastructure”, did you think it was needless then? Or is it only needless now National have followed through with it?
2. redfred 2

   8 October 2012 at 8:29 am

   A foundation of the Singaporean model is a compulsory super scheme.

   A percentage of the super fund is invested in Government bonds for infrastructure purposes, instead of borrowing overseas.

   Probably a long term alternative to quantitative easing.
   • Colonial Viper 2.1

     8 October 2012 at 11:34 pm

     Or a softer, stealthier version of QE – eg an annuity paid out to investors based on the principal put into the fund can be a direct credit from the Government.
3. marsman 3

   8 October 2012 at 8:32 am

   John Key will not emulate successful policies because those policies don’t enrich him and his rich chums. He will only implement policies that have already failed in the USA and England because that is what the Business Round Table demands.
   • Draco T Bastard 3.1

     8 October 2012 at 3:04 pm

     Not just the Business Round Table but foreign investors as well.
4. AsleepWhileWalking 4

   8 October 2012 at 10:03 am

   It’s important to understand what kind of inspiration Dear Leader is seeking out.

   Singapore. Key features:

   – flat tax (awesome! Perhaps a transaction tax instead?)
   – NO WELFARE
   – NO MINIMUM WAGE
   – massive human rights abuses….this sort of goes with no minimum wage, and probably no eight hour day, sick leave etc. Sort of police state going on too.
   – outstanding banking system, and with smaller banks added privacy (thank you Simon Black)

   In the 1980’s NZ was ranked as a world economy where they are ranked now, I think 8th. Or I might have that wrong….sleep issues….damn memory….anyway we basically switched positions over this time period. Let’s hope Dear Leader isn’t too inspired by the lack of protection for workers….he does seem to be biased towards that direction doesn’t he? Anyway, best not think to hard about DL salivating over the details of how Singapore rapidly grew their economy.
5. Dave 5

   9 October 2012 at 12:14 pm

   Have a read of this (available from Auckland Public Library)
   The Singapore miracle, myth and reality / Rodney King.
   Inglewood, W.A. : Insight Press, 2008.
   9780977556700

   Among other things author claims:
   – 30% live below the poverty line.

   -The amount Singaporeans must pay into the Central Provident Fund (the compulsory super scheme) often changes – with the employer percentage dipping whenever the government fears that too many MNC are going to take flight.

   – Most people have to draw from their CPF account to pay over inflated prices on state housing. Which for many means little is left to actually live on once they do reach retirement.

   – Neighbourhoods have ethnic quotas – so that racial percentages must reflect national totals. So for example if a particular neighbourhood already has reached its percentage for say Indians (9.2 %), then Indian buyers are locked out of buying into that neighbourhood.
6. Rich 6

   9 October 2012 at 12:24 pm

   I imagine the part of Singapore Key is keenest to emulate is the “corrupt police state” bit.
   • mike e 6.1

     9 October 2012 at 5:42 pm

     Singapore has a capital gains tax as well!
     compulsory health insurance.
     Land tax high rents.
     money is made available for VC
     • Colonial Viper 6.1.1

       9 October 2012 at 6:23 pm

       Shit loads of public transport and government provided housing. One of the most economically pro-active governments in the world, willing to put its money where its mouth is.

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