The Reserve Bank produces a series of helpful tables of economic data. One table compares our growth to that of Australia, the US, Japan, and the UK. Here’s a graph comparing growth across the countries between National and Labour’s periods in government.
National has a pathetic track record on growth. Under them, our economy grew 1% a year slower than Australia’s, slower than the US’s, and barely faster than the UK’s.
Since we tossed them out, New Zealand has grown faster than Australia, the US, Japan, and the UK. The gap in GDP per capita that opened under National has been partially closed and wages have grown after stagnating under National.
But it is still not good enough. To make up the ground we lost under National we need growth to continue and stronger workers’ rights to ensure the benefits of growth go to those who make it happen. That requires a Government that is committed to high employment and high wages, and has the competency to deliver.
Labour needs to do more; National has proven they simply are not up to the task.
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