A group of economists expresses alarm over government decisions.
A coalition of prominent economists has penned an open letter to the Government, cautioning against the long-term consequences of its fiscal policy. The Green Party's Public Services spokesperson, Francisco Hernandez, echoes their sentiments, stating that the current approach "hurts and will continue to hurt Aotearoa."
According to Hernandez, cuts to essential infrastructure spending, such as the scaling back of Dunedin Hospital, have far-reaching effects beyond short-term savings. Economists warn that these reckless cuts undermine New Zealand's ability to address climate and inequality challenges.
The signatories urge the Government to seek comprehensive advice from officials on how to plan a responsible budget. Francisco Hernandez emphasizes that changing course is crucial: "This Government can and must change course." If not, he cautions, "we will all pay the price through a diminished ability to build a resilient economy that strengthens people and planet."
The economists' concerns highlight the need for more prudent decision-making in New Zealand's fiscal policy. The consequences of these actions are already being felt by workers who have lost their jobs and dignity.