The last time Treasury did an economic and fiscal update outside of its use two-per-year schedule, was December 2008, the depth of the recession. So, it’s telling that, just 4 weeks after the Budget, Treasury is looking at doing a revision of its numbers. One thing is certain, National’s last economic (actually, fiscal) promise- surplus in 2014/15 – is out the window. So, what’s National’s goal now?
It’s looking increasingly like they don’t have any. They’re just ‘muddling through’, under-delivering on their growth, jobs, debt promises, and completely failing to close the gap with Australia. Their focus now is on forcing through some more favours for their mates – asset sales, irrigation subsidies, attacks on local democracy – in the two years they have left.
Time for a government with a worthwhile vision and the policies to get us there.