These are truly amazing figures.
I cannot verify the amounts so I am relying on blogger Jeff Mitchell from Christchurch
I cannot verify the amounts so I am relying on blogger Jeff Mitchell from Christchurch
New
Zealand’s debt
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.
"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
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
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