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Archive for 16 February 2016

Letter to the editor – In response to Orwellian National Supporters

16 February 2016 2 comments

 

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Frank Macskasy - letters to the editor - Frankly Speaking

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I see that National Party apparatchiks are up to their usual disingenuous tricks, trying to suggest that Labour was a worse manager of the New Zealand economy than National;

 

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Roger Mitchell

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As many are already aware, quite the opposite is true. I replied, presenting  a few salient facts to the Tory fan-boi;

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from: Frank Macskasy <fmacskasy@gmail.com>
to: Dominion Post <letters@dompost.co.nz>
date: Thu, Feb 11, 2016
subject: Letter to the editor

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The editor
Dominion Post

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I see that Roger Mitchell of Clive is parroting the right-wing myth that Helen Clark “must have wised up considerably since steering New Zealand on to the rocks, with Labour’s help, of course, and we have been going full astern ever since”. (Letters, 9 Feb)

In fact, during Labour’s administration, from 2000-08, their economic track record was enviable by today’s standards;

* paying down sovereign debt to around $15 billion, in the mid-2000s, to National’s debt-splurge of $54.7 billion as at June last year. (Much of it to pay for tax-cuts in 2009 and 2010)

* Government Debt-to-GDP was 14.5% in 2007, and is now at 38%,

* Labour’s Finance Minister Michael Cullen posted nine surpluses. Bill English has posted one, and even that was achieved by cutting state services.

* unemployment stood at 78,000 (3.5%) in 2007/08, compared to 133,000 (5.3%) today.

* GDP growth reached 5.5% in July 2004 – whilst reaching a temporary peak of 3.5% in January last year.

* According to Statistics NZ, home ownership fell from 54.5% in 2006, to 49.9% in 2013.

* Meanwhile, those renting increased from 33.1% in 2006 to 35.2% in 2013. Housing affordability has worsened in the last few years.

It may suit the agenda of National Party loyalists to indulge in fanciful Orwellian re-writing of recent history, but the facts speak for themselves; Labour was the more effective manager of this country’s economy.

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-Frank Macskasy

[address and phone number supplied]

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References

NZ Productivity Commission: Housing affordability

NZ Herald: Investment data shines spotlight on debt

Statistics NZ: 2013 Census QuickStats about national highlights – Home ownership

Trading Economics: Unemployment Rate

Trading Economics: Unemployed persons

Trading Economics: New Zealand Government Debt to GDP

Previous related blogposts

Labour: the Economic Record 2000 – 2008

A Tale of Two Track Records: Labour vs National #1: New Zealand GDP

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This blogpost was first published on The Daily Blog on 11 February 2016.

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= fs =

 

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