With 20 percent of the population vacanciated your Alittle early to the party. And its not the 10s of billions of dollars you think it is.
I checked my number against treasury forecasts and I'm correct, possibly under estimating. At at 20% full vaccination it is probably a bit late...
I have also been one of those greatly affected by measures to "protect us" causing significant financial damage to livelihood, and children's future. Now having to rebuild business from near dead due to closed borders limiting ability to travel and bring in international income. I am also one of those who has probably had COVID overseas bringing money into the country while the government is at full spend mode (I had a bad cold for a week, most of our group had similar or more towards a flu; one of the older guys required minor medical treatment. Despite the media scare mongering and unfortunate few as per anything like cancer, car accidents; the reality one generation will mostly take the brunt)
A part of the burden and forever guilt of true leadership is having to do action for the greater good; full well knowing some are going to pay a heavy price; there is also actual accountability and consequences. Note these last points.
Other countries in the world have taken their pain, medicine and are now coming out hard. NZ's actual pain hasn't even begun, and there is nothing we can do to avoid it; COVID is not going to disappear and it will continue to morph so what have we actually gained, pseudo freedom for another 12 months?
There is no point being emotional or taking it personnel, at the end of the day a government must balance its books or there will be severe consequences for the nation. Unfortunately and in cold hard terms those at greatest COVID risk are no longer a productive asset to the country but a liability.
As mentioned, the great ones that we all owe a great debt to protect our freedoms have basically all passed; and we would all go to the end of the world to have protected them if required. The great ones even after dealing with the horrors on both cases, returned home cleared the land, built the farms, industries and had NZ in what 3rd-5th in OECD (or whatever it was then).
The generation now at risk of COVID did what? took all those industries, world manufacturing and infrastructure that had been inherited by their parents and grandparents ran all that into the ground for a quick buck. Eventually crashing the economy leading to the self inflicted consequences of extreme tax, interest rates, austerity measures taking away benefits away from future generations they themselves received, oh and having to sell off many of the assets inherited from great ones. GREAT WORK!!!
The reality before COVID, NZ was already in massive financial trouble with government liabilities expected to reach over 200% GDP due to a generation passing the buck previously, and still failing to act; therefore leaving a financial hole of over $200B for future generations. No, the now retiring generation have not earned that right as a group, there is a liability hole $200B $#@@ deep from mismanagement.
Over the next 30 years the tax payers will have to fork out $600B for pension plus whatever nightmare the healthcare costs will be... As personally horrible other countries have had it; we would have removed $120B of that liability, and possibly towards the full $200B when including healthcare. (even today at $14B a year pension is the biggest govt spend, it will hit $40B!!!)
In this case its not actually about sacrificing the at risk group, but because of that groups prior actions, we can not afford to protect them...
Previous generations had covered their lifetimes, and other countries facing similar issues, even with assets of significant natural resources, took action decades ago. Many of these nations seeing what was coming formed ginormous retirement investment schemes to protect future generations from their burden. They have already taken further austerity measures as could even see prior decisions were still insufficient.
What did NZ choose to do?; nah that will cost me money now, lets just shrirk our responsibilities and have future generations cover it long after we're gone... Those from that time can not cry it wasn't me; as a collective, the covid at risk generation knowingly made that decision by the selection of multiple governments over decades. The structural issues faced are not caused by the current labour, or national governments but stretch far back; the ones that will bare the brunt were probably at least 15 years from birth...
To make sure truly understand who think govts just give out money. Greece barely got above 120% before their economy and government positioned spiralled out of control. Existing productive generations and our children will face severe austerity and tax measures in the future; good bye our own pension while paying the current ffs.
Crown assets have already been sold off leaving minimal that will be enough for satisfy creditors. We/they will be taxed to hell, and not just for a few years, healthcare and education will probably be sold off as per USA style, along with remaining SOE and maybe even infrastructure. The worst part our credit rating will become junk; making it near impossible to attain reasonable productive debt to fund business ("cough" housing) and pay significant higher interest rates than our overseas competitors. All what we actually need to fix the mess.. Yeah, so cheers for that...
So there are two clear questions:
Can the country actually afford the debt imposed to protect the now retiring generation? We all know that answer...
The second is the current COVID at risk generation actually worthy of taking the future of generations to come?
Can the at COVID risk generation as a group honestly say they've left the nation in a better position than they inherited..
