NZ economy

On the eve of the election, let's not forget the influence of 'dollar-voters' on the outcome

A modern society uses two main ways for regulating its public life; politics and the market. In principle the political ideal is 'one person, one vote', whereas markets are driven by 'one dollar, one vote'.

Treasury's advice to Bill English is nothing if not clear – it's time to cut. So does its briefing to the incoming minister make its case? Or rather miss the point entirely? What do you think...

Reading a Treasury briefing can be a morbid experience; they are the bureaucratic embodiment of cynicism, seeing the price of everything and the value of nothing. The latest offering to the incoming minister makes you wonder whether the word "invest" is simply too long for the Treasury analysts, so they fall back on a nice short one – "cut".