Perchance to dream ....
While the U.S., Australia and Japan spray cash in every direction to "stimulate" their economies, New Zealand has a novel idea: Why not grow one's way out of recession?A beautiful place for more than one reason.
Prime Minister John Key declared yesterday that "during this global downturn, we can work to improve the performance of our economy relative to other countries, and we can emerge better off." He then announced a package of regulatory reform and tax initiatives aimed at making it easier for companies to do business -- and keep Kiwis employed.
Since taking office in November he has already enacted a series of income-tax cuts and eased unfair dismissal laws. On Monday, his government announced plans to streamline the Resource Management Act, an environmental protection statue that has blocked or slowed business developments across the country.
Mr. Key said yesterday that he rejects "alarmist suggestions" on the economy and favors "making decisions in a disciplined way" that doesn't burden future generations of taxpayers. He added: "We need to be sure that the decisions we make now really hit the mark."
I could live there.
Hat tip ninme.