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Hey Productivity Commission, leave 'social justice' alone

Natasha Martin/Stuff
Productivity Commission chair Dr Ganesh Nana’s combination of productivity and wellbeing is “arrant nonsense”, argues Damien Grant.
OPINION: It would make more sense for the conclave of cardinals to elevate the Archbishop of Canterbury as Pope than it did to appoint Dr Ganesh Nana as chair of the Productivity Commission.
Nana is an accomplished academic. He has an impressive body of work behind him and shows no signs of running out of intellectual or physical steam, but he does not belong to the economic discipline for which the commission was established.
The commission began life on the first of April 2011. It was forced on John Key by then Act leader Rodney Hide who, even then, was disillusioned with the lack of rigour in Key’s tepid administration. ....

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Covid 19 coronavirus: Was the $14b wage subsidy well-spent?

Covid 19 coronavirus: Was the $14b wage subsidy well-spent?
18 Dec, 2020 04:37 AM
13 minutes to read
The Warehouse is among the companies criticised for not repaying the subsidy. Photo / Tania Whyte
NZ Herald
ANALYSIS:
New Zealand s $50 billion response to Covid-19 doled out millions for everything from apprenticeships to bird sanctuaries. But its centrepiece was the $14b wage subsidy which, in the dark days of April
and May, underpinned the pay packets of more than half the country s workers. It eclipsed new provisions for health spending and border control, including managed isolation, and remains the single biggest line item in the extraordinary costs of 2020. ....

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A review of things you need to know before you go home on Wednesday; dairy prices up, Treasury eyes surplus, tiny C/A deficit, lower Govt bond issuance needed, swaps stable, NZD hold, & more

MORTGAGE RATE CHANGES
TERM DEPOSIT RATE CHANGES
A SATISFACTORY FINAL AUCTION
Dairy prices rose in today s
final auction of the year, taking them back to where they were at this time last year. There were good rises for cheese and butter, lesser ones for milk powders. Overall, prices rose 1.25% in USD terms from the prior event two weeks ago, +0.8% in NZD terms. No milk payout forecast will be changed by today s results.
BACK TO SURPLUS?
Treasury is
assuming investment gains of about +$4 bln per year from 2022 to 2025 after a gain of +$7 bln in 2021 and these are to be enough to push the Crown operating balance into surplus in 2025. In the meantime, income taxes are assumed to rise +28%, GST by only +5% and operating expenses are assumed to rise by just +6%. In 2025 the OBEGAL will show a deficit of -$3.7 bln. (All this data from page 87.) ....

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Renowned economist, Dr Ganesh Nana to chair Productivity Commission

Renowned economist, Dr Ganesh Nana to chair Productivity Commission
Wednesday, December 16, 2020
IWK Bureau
Cabinet has agreed to the appointment of Dr Ganesh Nana to chair the Productivity Commission, after the current chair Murray Sherwin ends his term, Grant Robertson announced today.
Dr Nana is currently the Research Director of BERL. He joined BERL as its Senior Economist in 1998, becoming Chief Economist in 2010, before moving to his current role in 2019.
“Dr Nana’s appointment will bolster the Commission’s efforts to deliver on the full breadth of its mandate,” Grant Robertson said.
“I want to ensure that the Commission, like the Government, looks beyond GDP to find its measures of success, and has the wellbeing of current and future generations of New Zealanders front of mind as it generates new knowledge and advice. I also want them to engage with a wide range of New Zealanders as they undertake their work. ....

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Ganesh Nana appointed to chair Productivity Commission

Murray Sherwin is leaving after almost a decade at the Productivity Commission.
“I also want them to engage with a wide range of New Zealanders as they undertake their work”.
The Productivity Commission was the brain child of the ACT Party and was formed as part of its confidence and supply agreement with John Key’s National Party in 2008. Murray Sherwin has been the chair since it was started in 2011.
The
Productivity Commission Act 2010 states that “the principal purpose of the Commission is to provide advice to the Government on improving productivity in a way that is directed to supporting the overall well-being of New Zealanders, having regard to a wide range of communities of interest and population groups in New Zealand society”. ....

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