Larry Williams Drive

Did I have a debate on my hands when I got home last night about the country’s debt levels.  The husband gave me a huge telling off for saying yesterday that the Government had taken on too much debt.  So I feel like I need to clear this up: I don’t mind the level of debt New Zealand has. We've heard this a thousand times, but it’s worth saying again- we have very little debt in contrast to other countries in the OECD. Actually, debt is good. If you borrow money to invest in things which make your country richer, like building roads for productivity or new schools for education, it’s a good thing. Case in point- how else did you buy your house if not with a mortgage, AKA, debt? And same with infrastructure- if you need to take on debt to build roads and schools in New Zealand, that’s fine, it’s actually a smart way to spread the cost over generations. My problem is what we did with that debt. What have we got to show for it? Absolutely nothing. In 2019, we had the tiniest, tiniest amount of debt. $5 billion i