The Press

Buck be­ing passed to RB on hous­ing


Clas­sic pass-the-buck ma­noeu­vre by the fi­nance min­is­ter re hous­ing.

Hav­ing ab­so­lutely failed to de­liver on the still PM’s ex­or­bi­tant Ki­wiBuild prom­ises from 2017 on­wards, the new Gov­ern­ment ex­horts the Re­serve Bank to pull its socks up.

True; the RB does have a role to play around set­ting in­ter­est rates and/or lend­ing con­di­tions. Yet it’s also been asked to en­gage in an un­prece­dented money-print­ing ex­er­cise, which drives rates in one di­rec­tion only.

One sim­ply can­not have it ev­ery which way! Es­pe­cially when key in­sti­tu­tions and their in­de­pen­dence is at stake – only re­cently high­lighted by the PM.

But that’s ex­actly where the heads of our cur­rent NZ po­lit­i­cal lead­ers are: in the clouds, imag­in­ing the world is to be dreamed up at their Welling­to­nian whim.

Mean­while, the very re­al­i­ties of downto-earth Ki­wis con­tinue to be­lie such non­sense, as they still wait for true de­liv­ery of ba­sic gov­ern­men­tal ac­tion. But maybe they’re dreamin’?

Bry­den Black, Merivale

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