Finance Minister Willis was asked whether she wanted to change legislation to force the Reserve Bank of NZ to cut capital requirements that are currently being imposed on our Big Banks. She replied, “Whether or not I need to do that is something I’m taking advice on”.
Finance Minister Willis was asked yesterday about upping Kiwi Saver contributions. She replied, “I’m seeking advice and taking advice on where we take Kiwi Saver in the future.”
Finance Minister Willis was asked how she would increase competition to counter the rip-off prices of the Supermarket Duopoly. She replied, "I will want to seek advice on how do we ensure that we do get a third entrant into this (grocery) sector".
Finance Minister Willis was asked how she'd fund the tax changes in her 2024 budget so they wouldn't increase the budget deficit. She said she was "seeking advice from officials".
Finance Minister Willis was asked whether the NZ Super Fund's income should be made tax exempt. Willis replied that she was "asking officials for advice".
Finance Minister Willis told the country after cancelling the Cook Strait Ferry contract with Hyundai that she needed to take "independent advice" and so was establishing an "Advisory Group" to advise.
Finance Minister Willis said she need to get "advice" on how to better capitalize Kiwibank so it might better compete with the large Australian-owned banks.
Want me to go on and on? All of these decisions depend entirely on your own pre-prepared economic plan and the aims you wish to achieve. Once you have worked out that plan (in Opposition) then you can already answer every one of the above questions. The only advice you then need is on the implementation details. That is how economics works.
When former PM Ardern came to power, the Nats said she had no economic plan. So she started endless reviews about everything to give her some clues. Now it has become abundantly apparent that the National Party's own Finance Minister is also making it up as she goes along.
That being said, its obvious National should be given another term, just because Labour were so awful last time. But its also obvious the Nats have come to power with few ideas & need to ask for advice on everything, even when to go to the bathroom. The problem with this "strategy" is that, when it comes to economic advice, you can always find opposing views, with strong arguments both ways. So you must have already developed your own deep thoughts about what you want to achieve & how to get there. It is clear both Labour & National have not done their homework, other than about how to obtain & maintain power.