The Greens want a select committee inquiry into the economic response to the Covid-19 pandemic.
Finance spokeswoman Chlöe Swarbrick has written to Parliament’s Finance and Expenditure Committee, calling on it to agree to an inquiry into the Covid-19 economic response when it meets for the first time this year on Wednesday.
The Greens have been critical of aspects of the Covid-19 economic response, in the Government’s reliance on the Reserve Bank’s lowering of interest rates to boost demand in the economy. This had the unwanted side-effect of pushing up house prices across the country.
After all the bullshit middle class identity politics posturing, we FINALLY get to the crux of the matter.
The terrible failure of neoliberal economics and it’s horrific impact on the vast majority of us!
Jacinda and Grant poured billions into the housing market and the housing market exploded. They used failed free market dynamics in a market already mutated beyond recognition by free market dynamics and it has resulted in one of the largest transfers of wealth in NZ history…
An economic and political commentator says since the Covid-19 pandemic reached Aotearoa, the rich have become richer and the poor have become poorer – in part due to the Government’s policies.
Bernard Hickey, writing in The Kākā newsletter, argued that – contrary to many assumptions – New Zealand’s economic response to Covid-19 was among the worst in the world in terms of widening wealth inequality and being a wasteful use of taxpayer funds.
He calculated policies like cash payments for businesses struggling through the pandemic, wage subsidies that saved business owners money, rising property and asset prices, and money printing cumulated to make the wealthy nearly $1 trillion richer.
Meanwhile, the lines for emergency food parcels continue to lengthen, Hickey told Breakfast.
…I’ve argued Chloe is the mustard, here is her speech in Parliament…
“We’ve seen those distributional impacts in house prices rising $300,000 on average across Aotearoa, we’ve seen it in the 1 trillion dollar estimated transfer of wealth to the wealthiest New Zealanders. The government has seen that increase in inequality not though some ‘natural process’ but as a result of decisions that were made, and decisions that were not made.”
…we desperately need a new economics, reviewing the vast failures of the current life boat is an essential start.
This is Chloe’s moment.
All strength to her arm, it’s a debate that needs urgent attention as global capitalism once again looks on the verge of collapse.
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