When your only tool is a hammer…
…everything starts to look like a nail.
This is what we discovered at the Warkworth Town Hall on Wednesday, March 22.
An exposé on New Zealand’s Failing Economy…
Teresa Gibson (Unify NZ), Simon Angelo (Wealth Morning),
Dr Oliver Hartwich (NZ Initiative), John Ling (Wealth Morning)
Dr Oliver Hartwich, one of the best economists of our generation, gave us a presentation that was urgent and sobering.
Here are some facts:
- Between 2017 and 2022, New Zealand’s public service mushroomed dramatically.
- The Ministry for the Environment grew 137%.
- The Ministry of Transport grew 102%.
- The Ministry of Business, Innovation, and Employment grew 75%.
- The Ministry of Education grew 55%.
- Overall, the number of employees in our ministerial bureaucracy now exceed 60,000. It’s astonishing for a small country our size. All this has happened in just five years.
So, here’s the billion-dollar question: has this led to better roads? Better schools? Better business performance?
The short answer: no. A bigger hammer doesn’t lead to better results. It just leads to the wrong nails being smashed, resulting in collateral damage.
Fortunately, Dr Oliver Hartwich has given us an excellent blueprint to move forward.
It’s about overhauling our public service. Rejuvenating our economy. Regaining prosperity.
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(This article is general in nature and should not be construed as any financial or investment advice. Vistafolio services are for Wholesale or Eligible investors as defined in the Financial Markets Conduct Act 2013.)