Congratulations, the Government has achieved another "top-half" of the OECD moment.
Again it is for the wrong reasons.
The Reserve Bank has given us the highest interest rates in the OECD, as if that will stop the problem.
I’ll give you a reason why it won’t work.
My brother who works for a multi-national company and is currently based in Korea and paid in US dollars can borrow large amounts of money at 1% interest, he can then spend that money in New Zealand or just stick it in the bank and cream it, the interest or returns making far more than the 1% he has to pay which he covers from his rather large salary.
The Japanese are similarly placed and will continue to do the same, especially when the best you can get in interest in a bank in Tokyo is about 0.8%
As much at home writing editorials as being the subject of them, Cam has won awards, including the Canon Media Award for his work on the Len Brown/Bevan Chuang story. When he’s not creating the news, he tends to be in it, with protagonists using the courts, media and social media to deliver financial as well as death threats.
They say that news is something that someone, somewhere, wants kept quiet. Cam Slater doesn’t do quiet and, as a result, he is a polarising, controversial but highly effective journalist who takes no prisoners.
He is fearless in his pursuit of a story.
Love him or loathe him, you can’t ignore him.
To read Cam’s previous articles click on his name in blue.
