Debt level shift creates opportunity for accelerated action on key wellbeing areas

Welcoming today’s announcement of a change in New Zealand’s debt from 20% to a band of between 15-and-25% of GDP, Barnett said it is a step forward. It could allow the injection of $15b or more into the NZ economy to deliver some real and lasting solutions to our deep seated problems.

In recent weeks we have had Government suggesting it had insufficient funds to invest in education and yet education is at the heart of our future; they have said there is insufficient funds for a health sector that is under enormous pressure and of course there are the issues of housing and the worsening traffic congestion Aucklanders are facing every day.

“These are all ingredients in a badly needed action agenda for New Zealand to cope with its growth,” said Michael Barnett, head of the Auckland Business Chamber.

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