frogblog

Is that the sound of Dr Cullen biting his fingernails, hoping the economy can hold on till September?

Kiwis’ pessimism about the economy was revealed in a poll last week. Now, an Economist survey shows the high New Zealand dollar is beginning to bite. Wellington and Auckland are now much more expensive to live in - relative to other cities around the world - than they were a year ago.

Yesterday afternoon, Rod issued a Green plan to get the dollar down to a more reasonable level, which included tighter controls on foreign investment; re-orienting the economy towards greater self-reliance (with a concerted ‘buy NZ made’ campaign); and looking at introducing a capital gains tax on properties other than the family home.

Bookmark to: