The good, the bad and the ugly – NBR plays of the week National Business Review
Mining tax helps uproot Rudd
The ousting of Kevin Rudd from his job as Australian Prime Minister this week is a welcome reminder that voters aren’t quite as gullible as politicians believe.
And it is a warning to New Zealand’s Prime Minister John Key that no amount of popularity in the opinion polls is enough to insulate against policies that wreck the economy and needlessly cost people jobs.
Only a year ago “K-Rudd” held a tight grip on the reins of power that seemed unshakeable as his personal approval rating ran at record levels of about 70%.
What he perhaps benefited most from was Australia’s apparent economic strength as the “lucky country” was one of few Western nations to avoid a recession.
Unfortunately the “growth” was coming from increased government spending, in particular the misguided “stimulus package” that saw money thrown at dead people and even New Zealand residents, with instructions to spend it like there was no tomorrow.
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