In 2023, New Zealand elected a government that promised to "get the economy back on track." Two years later, the economy shrank, 47,000 citizens left the country, and the ferries literally broke down. But at least the landlords are doing well.
Two-year average. 2024 was the developed world's largest contraction. — HSBC, Stats NZ
Highest in a decade. — Stats NZ
Waiting 4+ months for a specialist. Only 61% seen on time vs 95% target. — DPMC
Down 145 officers while youth court charges surged 71% and burglaries doubled. — Police Association, NZ Herald
Net NZ citizen departures. Record calendar-year loss. 56% went to Australia. — Stats NZ
Jobs axed while $538M went unspent. 800 graduate nurses unemployed despite shortages. — RNZ, Health NZ
They said there was no money for nurses, teachers, or firefighters. Turns out there was plenty — just not for them.
Cancelled the iReX replacement ferries, wasting $671 million with zero ships delivered. $222M to Hyundai alone. The remaining fleet is now literally breaking down — the Aratere ran aground, the Kaitaki lost all four engines mid-crossing, and the Kaiarahi had steering failure. One ferry sold for scrap to India.
RNZ, 1News, BusinessDesk
Health NZ left $538 million unspent — mostly from unfilled vacancies — then asked hospitals to find another $510M in "savings." Only 28% of graduate nurses were hired at Christchurch Hospital. 47% of wards understaffed 20% of the time.
RNZ, NZ Herald
Budgeted $500K for ex-PM Bill English to review Kāinga Ora. Paid him $2,500/day. Took the money from the transitional housing budget — the fund for people in urgent need of a roof. The review concluded Kāinga Ora was "not financially viable." Thanks Bill.
Newsroom, Stuff
FENZ hasn't given firefighters a pay rise since July 2023. The offer? 5.1% over three years — less than inflation. 99% of members rejected it. Rolling strikes since August 2025. Meanwhile, 140 roles marked for the axe and equipment described as "dire and failing."
RNZ, NZPFU
Auckland rough sleeping up 90%. 1,019 social housing units cancelled. Landlord handouts: $2.9B.
💰500k+ at food banks monthly. Child poverty at 13.4%. Real wages going backwards.
🏥74,000+ waiting for specialists. 2,042 health jobs axed. $538M left unspent.
🌳149 projects fast-tracked. $134M cut from DOC. Climate rating: "Highly Insufficient."
🎓1,250 teacher shortfall. University entrance rates declining. School lunch funding halved.
⚖Police numbers falling. Record prison population. Youth charges up 71%, burglaries doubled.
💥$671M on cancelled ferries. Coalition drama. Treaty chaos. The stuff that defies categorisation.
Sources: Stats NZ, NZ Treasury, DPMC, Ministry of Health, Ministry of Education, DOC, CPAG, NZ Food Network, Police Association, Parliamentary Budget Office, HUD, Justice Ministry, HSBC, Climate Action Tracker, RNZ, NZ Herald, Newsroom, NZPFU. All figures from publicly available reporting.