No Minister

ROBERTSON HAS NO ANSWER

with 16 comments

Finance Minister Robertson’s wringing of his hands on Morning Report acknowledging that ‘we’ can expect inflation to increase further over the next two quarters suggests he has no answers and what will be will be. The country expects/demands leadership and here we have the man in charge of the levers with no answers and nothing to offer other than to continue to borrow and hope.

Nicola Willis is right on the money with her recipe for easing inflationary pressures …. (1) stop adding extra costs to businesses that are being passed on to consumers and (2) stop wasteful government spending and (3) expedite the entry of skilled workers back into the country.

But no … all Labour can do is point to increased new spending in the upcoming budget … all on borrowed money … spending ones way out of inflation is an interesting concept.

Meanwhile Kiwi families at the coalface struggle to make ends meet.

Written by The Veteran

April 19, 2022 at 1:17 pm

16 Responses

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  1. You can stop adding cots which is good, but it’s too late. Inflation will continue growing due to effects of past actions and there’s nothing Robbo can do about it.

    Labour have poisoned the wells. Thousands of home owners are shitting themselves over unaffordable mortgage service costs. 50,000 a year will leave NZ reducing the nation’s ability to climb out of this mess.

    2 terms of Labour and the half-wit soccer mums that voted for this are finally waking up to the consequences of their vote.

    John JohnO

    April 19, 2022 at 1:35 pm

  2. If our inflation is imported (which according to the Labour Party is the case) then it doesn’t matter if you spend generously, particularly on things that matter like your Maori voters; quality not important so while they’d throw their hands up in horror if you suggested giving money to the Jesuits (and so would I) it’s apparently OK to support tree or mountain worship. Atheists are sometimes inconsistent but only if there are votes involved. AKA hypocrites. Don’t worry, it’s borrowed money so doesn’t have to be accounted for or paid back (by the current Minister).

    Cassandra

    April 19, 2022 at 1:38 pm

  3. We had visit from an home PC IT fixit guy. Chatted around for a while, as you do. Told me (bravely) he voted arden. He deeply and bitterly regrets that.
    As many of them do.

    Kevn

    April 19, 2022 at 2:55 pm

    • Most amazing thing to me was the number of otherwise sensible people who did the same including family members who should know better
      The most usual excuse was “but she kept us safe and saved thousands of lives” utter poppycock but people felt that.
      We all knew and know now it was all BS.
      Although to be fair National and ACT were all too fast to get on the bandwagon so we can be sure they would have done the same. A classic case of the cure being worse than the virus.

      Old Curmudgeon

      April 19, 2022 at 10:07 pm

  4. The increased government spending foreshadowed in the upcoming budget can only exacerbate the problem … classic demand push inflation. Too much money chasing too few goods. And Labour/Robbo has the audacity to blame it all on o’seas factors. But of course they can’t admit to being the problem as opposed to the solution.

    The Veteran

    April 19, 2022 at 3:04 pm

  5. It was inevitable that we would get to this point once that first lockdown was called.

    Lucia Maria

    April 19, 2022 at 3:22 pm

  6. I have been predicting for a few months now:

    End of year inflation 10/12%
    Election time inflation 12/15%

    Nothing I have seen or heard suggests my predictions are out of kilter.

    pdm1946

    April 19, 2022 at 3:24 pm

  7. Of real concern is that this economic malaise is completely lost on too many of the Morlocks, Karens, luvvies and mandarins who make up the Labour voting base. If they are returned to the Treasury in 2023 reliant on the Watermelon & Beef Steak Parties then things will get real interesting.

    Porky Roebuck

    April 19, 2022 at 3:45 pm

  8. The election strategy will include Adrian Orr and Robbertson introducing a major reset as to how inflation is calculated with serious modifications arising from happiness and contentment that will overrule any ancient methodology based on costs of living and services that will all be down to Putin’s madness, nah make that Zelensky’s intransigence.
    That kindness and contentment will no longer exist will not matter as the media will say so, so there.

    Gravedodger

    April 19, 2022 at 4:00 pm

  9. Like all figures from this Government I expect that they will be massaged to suit them and do not reflect the truth.

    PapaMike

    April 19, 2022 at 4:22 pm

    • There is absolutely zero evidence that the figures themselves are cooked. No-one in National or Act suggests that. And they certainly would if it was true.
      The reality is that you can trust the accuracy of figures produced by NZ Stats and Treasury. Not the forecasts, but the statements of what government spends, what the tax take is, the deficits, unemployment rates, beneficiary numbers, growth rates, etc, etc
      The NZ government has one of the best reputations in the world on these things. Individual governments and Ministers have almost no power the change the quality of the data capture system.
      What is killing the government is that all these statistics are showing the numerous failures of the government. Deficit up, interest rates up, government spending out of control, crime up, literacy down, etc, etc. The government can’t hide any of these things, hence the level of public dissatisfaction in their performance.
      There are plenty of things to attack the government on, it is not necessary to just make up stuff that has literally no truth in it.

      waynemapp

      April 20, 2022 at 8:38 am

      • I agree with you regarding the accuracy of the figures produced by the NZ Stats and Treasury, but in one important area the way the figures are collected and reported is highly misleading. This is in the employment statistics (or more correctly, the unemployment) where the country has a claimed 3.2% unemployed rate at December 2021, yet there are 6.0% of working age people on the “Jobseeker” benefit at the same time. Guess which figure the government quotes in discussions?

        https://lindsaymitchell.blogspot.com/2022/03/gap-between-unemployed-and-jobseekers.html

        Marc Williams

        April 20, 2022 at 10:15 am

      • Re inflation it should also be pointed out that there are ongoing debates about the basket of goods used to measure the CPI. Obviously buggy whips are out, but at least in the USA the fact is that if inflation was being measured as it was in 1980, it would be about 15%, rather than in the high single digits where it is now.

        Also look at the way Labour dropped various KPI measurements for healthcare. There may well be lots of stats gathered but how useful are they in managing the system?

        On that note, it’s my experience that stats are a much bigger thing in the USA than in NZ, right down to sports where the only comparison might be with Wisden for cricket, and even that doesn’t get into the slicing and dicing of measurement compiled by sabermatricians (baseball stat analysts). Here’s a recent healthcare example:

        Most recently, Greg undertook the review of all 2020 and 2021 Minnesota death certificates which bear the International Classification of Diseases (ICD) code for COVID-19 (U07.1).

        Having reviewed all 10,903 such certificates, …

        That incredible wealth of detail was captured about each death in that state and a private citizen was able to obtain it and analyse it. As far as I can see we can’t here in NZ, as RNZ’s number crunching on Covid shows. It’s crude.

        Tom Hunter

        April 20, 2022 at 11:44 am

  10. Stop “printing” money and giving it to people who have not earned it. Inflation is always the result of reckless monetary policy.

    fredonas

    April 19, 2022 at 6:24 pm

  11. Funny what happens when you appoint a clown as Governor of the RB, you get funny money and an arse licker.

    And a whole truck load of competent people jumping off that RB “waka”. Hard to replace too when you want to turn that turd around and point it in the conventional direction.

    Luxon is going to inherit one of the worst shit shows in New Zealand’s recorded history. Cometh the hour cometh Mr National Woke man ?

    rossco

    April 19, 2022 at 7:22 pm

  12. “Cometh the hour cometh Mr National Woke man ?”
    One can hope but Mr Luxon seems to me to way to comfortable with the left.
    Hope springs eternal I guess.
    And no, this is in no way an attack on National or Mr Luxon, just a wish that it works out.

    Old Curmudgeon

    April 19, 2022 at 10:14 pm


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