Usual suspects want more debt

A group of economists have written to Nicola Willis complaining about the modest fiscal restraint imposed on the public sector. Grant Robertson grew government expenditure by $76 billion/year or a massive 7.6% of GDP, leaving NZ with a structural deficit. Many were champions of his policies or worked for him, and now they complain his successor is not going to carry on a policy of spend and borrow.

Chris Bishop had the best response, being:

Nicola Willis is currently in Antarctica, I suspect there is a greater chance of her taking advice from a penguin rather than three hand-picked economists who used to work for Grant Robertson

We had their policies for six years. It was a disaster that left us with a structural deficit, more debt, worse public services, a recession and high inflation.

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