Economic Debate - Policy Or Bust
September 11th, 2008
Instead of delighting in releasing National policies, Labour would facilitate a much-needed election-year economic debate by posting its own policies. Kiwiblog’s David Farrar alerted readers a month ago to the National Party web-site’s inclusion of a section where policies are listed, whereas Labour’s website didn’t list one 2008 policy plank. It still doesn’t. Visitors to the site will find a list of 2005 policies. Farrar acknowledged some of what they are already doing is Labour policy, “but nowhere do they have a single policy summary of what they will do if re-elected in a particular area.” You could go to 25 departmental websites to find out, or read Michael Cullen’s Budget speech, but “even that only tells you what the Govt is currently doing, not what else they are promising to do if re-elected.”
It’s The Economy. It would be great to see both major parties commit themselves to lifting NZ up the OECD ladder on a GDP per capita measure, along with programmes and timetables for getting there. Our performance remains low by OECD standards (but is rising faster than the OECD average). Helen Clark declared this a policy priority back in 2001, but without a target date. The Business Roundtable regards the goal as important and achievable. Economic growth in real per capita incomes means the difference between hardship and a comfortable standard of living for many. Over the past 20 years Ireland and Aust have lifted themselves from below-average OECD income levels to well into the top half of the range, but this goal was not even mentioned in the 2008 Budget. “It is not difficult to understand why,” Kerr huffed. “The economy’s average growth rate is falling, not rising.”
Give Us Some Policy. John Key asked Helen Clark last year if she wouldn’t give a date for lifting NZ back into the top half of the OECD, and for getting NZ to be carbon neutral, because, under her policies, “short of a miracle, neither goal is practicably attainable?” The PM wasn’t fazed - of course such goals are attainable, she retorted, but when our GDP per capita has slipped from third in the world in 1950 to around 20th 50 years later, it won’t be easy. “These things require clear, deliberate policy programmes that are sustained over time.” Indeed. Now let’s see what her team intends doing if re-elected. It’s time National posted its economic development policies, too - or must we wait for the leak?
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Duncan Cotterill