“If productivity growth were to improve by 2 per cent a year, labour force participation was 3 percentage points higher than it is today, and new migrants added 15,000 to national population annually instead of the 10,000 forecast, net debt would rise to 146 per cent of GDP by 2050. “This is still an unsustainable fiscal position,” the report says.”

Treasury paints a picture of a Third-World future for New Zealand.

From The NZ Herald

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