The Treasury gets it

It’s a pity they don’t have the ears of our great and glorious leaders. Your taxes pay their salaries but it’s to no avail; the bureaucrats and the politicians are pulling in different directions.

John Whitehead, Secretary to the Treasury, gave a speech in November telling it like it is. These two images, which accompanied his talk, illustrate clearly the problems Just Wondering has been set up to address. When the Treasury Secretary tells the Government publicly that we’re in deep trouble perhaps we should be paying attention and perhaps we should be demanding that Mr Key and Mr English do too.

The must-read text of the full speech is here along with many more graphs showing the sorry state this country is in and indicating the desperate state we’re plummeting into.

GDP gets an F minus; this is the problem

I hate Powerpoint, but I’ll bite the bullet to inflict upon you these two images from the presentation. They say it all:

New Zealand long term growth record

 

R&D gets an F too; could do better but just isn’t trying

This is a substantial part of the reason we have the problem. R&D is the key to the beginning of the beginning of restoring our prosperity.

New Zealand pitiful R&D spending

 

If anything is going to get us out of the mess we’re in, it’s innovation leading to high tech businesses earning enough to pay high wages to skilled people. It isn’t going to happen if we continue like this. It’s not only business that’s the problem. Government doesn’t put enough into R&D either.