New Zealand debt levels

These are truly amazing figures.
I cannot verify the amounts so I am relying on blogger Jeff Mitchell from Christchurch

New Zealand’s debt

Jeff Mitchell

John Key said that New Zealand will be out of debt and back into surplus by 2015, but that isn’t true. New Zealand is forecast to have record-breaking levels of debt by 2015, even with asset sales revenue. 

The Government would be doing a disservice to New Zealanders not to acknowledge and address the current economic situation. It is worldwide and New Zealand is not immune in any way. 

From the horse's mouth...(from Gerry Brownlee's office):

"The level of public debt in New Zealand was $8 billion when National came into office in 2008. It’s now $53 billion, and is forecast to rise to $72 billion in 2016."

"Without selling minority shares in five companies, it would rise to $78 billion. 

"Our total investment liability, which covers both public and private liabilities, is $150 billion – one of the worst in the world because of the high levels of private debt in New Zealand....."

My comments:
In other words this would bring down government debt down by $5 billion and we will have deprived the country of assets that have been built up over generations.

The National government now wants to repeat the exercise with sale of Christchurch City Council assets.




If you want to read government propaganda for asset sales GO  HERE