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Monday, 18 January 2016

NZ First wrong again

NZ First MPs are shopping around this article from a former Reserve Bank economist, claiming it proves they're right about immigration slowing down the economy. Except this former Reserve Bank economist can't get basic facts right. He claims:
"We've brought in tens of thousands of people a year for the last 25 years and we've just continued to slowly drift behind the rest of the world."
This is wrong. A quick search of the GDP per capita statistics from the OECD shows this isn't even slightly correct:


While we did fall behind the OECD average (the black line) in the mid 1980s, we've been rapidly catching up - something we've managed to do very well recently (also notice that dip from 2007-2010 in the black line? That's the recession. Notice how New Zealand's line stays flat.)