New Zealand’s economy is not in good shape, it’s struggling to ignite, cost of living still very much not under control, inflation is rocky still and unemployment is increasing. The country has a super aging population so we are getting in next few years to a point where for each retire will be supported by one worker, back in the 70’s and 80’s it was a ratio of 7 workers per retire. With a super aging population you get increased health system pressures and health is already underfunded and has serious specialist and doctor shortages. We cannot open the door to immigration to fill skills shortages as we still have a huge housing crisis and we cannot mass build as the industry through the downturn as lost significant amount of workforce who have left NZ.
Defence spending is not a vote winner and 2026 is election year so don’t expect anything more than what has already been allowed for.
NZ needs a higher tax take, capital gains, wealth tax, inheritance tax, higher personal tax, and the retirement age needs to be increased to 67 at a minimum with gradual increase to 70 over a 10 year period, new roads need to be tolled.
We need to secure our future, get back to a world class health and education systems, have secure and affordable housing for everyone, and we need secure energy which needs to be a combination of renewables, geo thermal and more hydro and we need a defence force that is small yet modern but able to respond to humanitarian and natural disasters and patrol our part of the world.
As a country we cannot keep borrowing like there’s no tomorrow, we need to increase tax revenue and live within our means.