New Zealand's growth is due for a slump in the not-too-distant future, writes Greg Jericho.
Last week the Australian and New Zealand governments announced two very different budget outcomes. You almost have to feel sad for Joe Hockey: he puts out his budget with raised taxes, a GP fee and large deficits, nek minnit his New Zealand counterpart announces a budget surplus replete with free doctors' visits and prescriptions for children under 13 years of age.
The New Zealand budget surplus was generally reported as meaning the New Zealand economy was doing better than Australia's and by some as a sign that Australia should have undergone budget "pain" earlier so as to experience the economic "gain" now.
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Image: New Zealand money / Shutterstock