Tuesday, March 30, 2010
New Zealand economy shows 'a pulse'
The consensus seems to be that the recession has bottomed out in New Zealand, and that things will improve from now on. But as the National Government tightens up on sickness and unemployment benefits, and moves to reform the tax system in ways that will almost certainly hurt low-income earners, I think there a lot of anguish ahead. These days, the most I can get for my six-month term deposits at the bank is 5 per cent, compared with 8 per cent before the recession struck.
The above cartoon is from the Manawatu Standard of March 26, 2010.