General New Zealand Election 2020

Who will you vote for in the 2020 election

  • National

    Votes: 18 22.8%
  • Labour

    Votes: 40 50.6%
  • Greens

    Votes: 9 11.4%
  • NZ First

    Votes: 0 0.0%
  • Act

    Votes: 4 5.1%
  • New Conservative Party

    Votes: 2 2.5%
  • Other

    Votes: 6 7.6%

  • Total voters
    79

john nick

1st Grade Fringe
Mar 28, 2020
2,106
tauranga
I only ask as it would be interesting to see how other countries are handling the post covid recovery.
I would say most developed countries would be doing similar.
I would suggest that most developed countries are doing a lot worse.We have come thru this remarkably well :) not that you would believe it going by the doom & gloom posters on here;)
 
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Mr Dragon

1st Grade Fringe
Jul 25, 2015
688
‘Treasury's update last month, where the Government's books were opened up, showed we're now more than $100 billion in debt, representing 32.6 percent of GDP, a comparison of what the Government owes with what it produces.

How does the debt compare to pre-COVID times? In February 2020, Government debt was at $59.7 billion, representing just 19.5 percent of GDP. It means in the space of one year, debt increased by 73 percent because of COVID-19.

Debt is tipped to reach $190 billion by 2025 - 46.9 percent of GDP.’


We spent $40 billion on the Covid recovery. How are we spending another $90B over the next 4 years when we’re coming out of Covid??? WTF are they spending it on? Lolly scramble or is the economy in economic freefall?

That’s an extra $18,000 government loss per Nzer over the next 4 years. Almost $100,000 for just my family of 5! This is the spending that’s going to be a killer long term.
Great to see not everyone as gone crazy on here, it won't be old buggers like me and my grandfather Bruce, it will be the kids left with all this debt to pay back.
 

john nick

1st Grade Fringe
Mar 28, 2020
2,106
tauranga
Great to see not everyone as gone crazy on here, it won't be old buggers like me and my grandfather Bruce, it will be the kids left with all this debt to pay back.
Yeah mate I think we all agree with that statement.The thing is us older guys were left with debt in our own life time due to 2 x wars & depressions and so on.Just a generational thing
 
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Miket12

Warriors 1st Grader
Apr 20, 2012
9,306
Perhaps it would be useful to compare this against what other countries have borrowed and what they are forecasting in the same period.
We’re actually doing very well compared to a lot of other countries.
Japan has a GDP to debt ratio of over 230%.
Next is Venezuela at 214%. Singapore has 109%. USA has 106%. France has 99%. Canada has 88%. UK has 86%. Ireland has 62%.
Germany has 57%. China has 55%. Australia has 41%. New Zealand’s latest figure is 32.6%.

The data was taken from the site below. I don’t know how accurate they are or when they’ve updated their information because it doesn’t include the latest NZ figures.

 
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Juju

1st Grade Fringe
Nov 9, 2012
1,677
We’re actually doing very well compared to a lot of other countries.
Japan has a GDP to debt ratio of over 230%.
Next is Venezuela at 214%. Singapore has 109%. USA has 106%. France has 99%. Canada has 88%. UK has 86%. Ireland has 62%.
Germany has 57%. China has 55%. Australia has 41%. New Zealand’s latest figure is 32.6%.

The data was taken from the site below. I don’t know how accurate they are or when they’ve updated their information because it doesn’t include the latest NZ figures.

I did suspect it would be more of a global trend and no matter who was in government would be doing the same.
I don't have much faith the spending will be well utilised... And that some people will get very rich from it while others will be left behind.
 

Inruin

Warriors 1st Grader
Contributor
May 19, 2012
9,217
Auckland
We’re actually doing very well compared to a lot of other countries.
Japan has a GDP to debt ratio of over 230%.
Next is Venezuela at 214%. Singapore has 109%. USA has 106%. France has 99%. Canada has 88%. UK has 86%. Ireland has 62%.
Germany has 57%. China has 55%. Australia has 41%. New Zealand’s latest figure is 32.6%.

The data was taken from the site below. I don’t know how accurate they are or when they’ve updated their information because it doesn’t include the latest NZ figures.

IMF data from the April 2018 IMF World Economic Outlook database.
 

Miket12

Warriors 1st Grader
Apr 20, 2012
9,306
I did suspect it would be more of a global trend and no matter who was in government would be doing the same.
I don't have much faith the spending will be well utilised... And that some people will get very rich from it while others will be left behind.
It’s only one way to access the economic impact (we are one of the few OECD countries which looks to be heading into a technical recession) but the lockdown last year didn’t destroy our economy as some in NZ and overseas predicted.

Also have to remember that those figures are only a snap shot in time and don’t show the way the ratio has trended over the last year. What I’m meaning, is New Zealand may actually be doing far worse than other countries if our increase in debt has been far more than other countries.
 
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wizards rage

1st Grade Fringe
Apr 18, 2016
3,411
Tauranga
I would suggest that most developed countries are doing a lot worse.We have come thru this remarkably well :) not that you would believe it going by the doom & gloom posters on here;)
We’re actually doing very well compared to a lot of other countries.
Japan has a GDP to debt ratio of over 230%.
Next is Venezuela at 214%. Singapore has 109%. USA has 106%. France has 99%. Canada has 88%. UK has 86%. Ireland has 62%.
Germany has 57%. China has 55%. Australia has 41%. New Zealand’s latest figure is 32.6%.

The data was taken from the site below. I don’t know how accurate they are or when they’ve updated their information because it doesn’t include the latest NZ figures.


Additional debt from Covid:

6861CFBA-370C-43D3-9E49-DEC2183544F4.png

7th worst in the world for net debt increase over the Covid period due to the private debt. Yet we were one of the least affected by Covid 🤔.

Look at the private debt of Aussie, despite similar house prices ❤️
 

wizards rage

1st Grade Fringe
Apr 18, 2016
3,411
Tauranga
We have below average government debt as a country but are 7th highest in private debt.

The combination of the two balances us out and from a non political view, gives us capacity to handle economic shocks.

The extra $90B is going to be pumped into infrastructure to build more roads, transport, hospitals under the excuse of Covid. It is a good thing if done right and will make up for the infrastructure deficit from rampant immigration.

From a political view again, this ginormous spend need to be managed well, which is a very concerning with this lot as it is not what they are known for...

It is also a risk if we have huge private debt and then the government debt balloons high as well. There will be future shocks some time in the future and we risk becoming a very indebted country if it all goes wrong... The result may mean more rampant immigration and foreign ownership to settle our debts.
 
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Rick O'Shay

Warriors 1st Grader
May 1, 2013
4,013
New Plymouth
The extra $90B is going to be pumped into infrastructure to build more roads, transport, hospitals under the excuse of Covid. It is a good thing if done right and will make up for the infrastructure deficit from rampant immigration.
You forgot housing. We still have the spectre of $1m a day on emergency accommodation. This is not a sustainable policy.

Agree with the infrastructure push but there sure as hell needs to be a massive jump in state housing.
 
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john nick

1st Grade Fringe
Mar 28, 2020
2,106
tauranga
You forgot housing. We still have the spectre of $1m a day on emergency accommodation. This is not a sustainable policy.

Agree with the infrastructure push but there sure as hell needs to be a massive jump in state housing.
Yeah mate. Been neglected by many governments over many years. Only got building in the 1950s when returning servicemen had nowhere to live.
 
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Miket12

Warriors 1st Grader
Apr 20, 2012
9,306
Most are moaning anyway
You mean you don't feel sorry for them having to be put up in 4-5 star hotels. Poor little dears!!! Here's a thought.... you knew you were going to have to go to a MIQ facility so if you didn't want to, don't come back here!!!
 

Rick O'Shay

Warriors 1st Grader
May 1, 2013
4,013
New Plymouth
You mean you don't feel sorry for them having to be put up in 4-5 star hotels. Poor little dears!!! Here's a thought.... you knew you were going to have to go to a MIQ facility so if you didn't want to, don't come back here!!!
Hard core but I'm afraid in my book if you decide to go (since March 2020) you shouldn't just waltz back in.

Everyone has done it tough here in the last 15 months, some more than others and this should all be about risk V consequence.

Having PR doesn't mean you're a citizen and dual passports is a luxury we should not accept in these times.
 
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