John Key’s comments this morning about New Zealand having best practice in monetary policy is clearly untrue. The facts don’t support John Key and as an ex-Foreign Currency trader himself he must surely know that. Singapore is currently No 9 in GDP per capita in the world and we are no 46. Mr Key needs to explain if we do have best practice why so many countries that don’t have our monetary policy rank at the top twenty in Global GDP per capita rankings. In 1965 Singapore was No 42 in GDP/Capita and New Zealand was No 11. If we have best practice where are the results Mr Key exactly where are the results?

Mr Key looks and sounds nervous on this issue and throw away lines like “If Labour want to increase petrol prices etc we won’t have anything to do with it” are designed to scare the public and derail the debate. As people have said, if politicians where paid in US dollars this problem would have been solved 20 years ago.

This entry was posted on Friday, November 20th, 2009 at 11:38 am and is filed under Current Thinking. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.