Will’s Word: When the “merchants of misery” range from everyday observers to CEOs

Full disclaimer: I'm not an economist. This is merely a take based on figures and data that's out there.

I'm not an economist, yet it's hard to see how this government's economic plan will actually get us out of the slump it's currently in. “Merchants of misery”, that's what our Finance Minister Nicola Willis used to describe those talking down the country's economy.

A rather ignorant response given rising unemployment, minimal wage growth, and more Kiwis fleeing overseas. A survey suggests even the country's top leaders and chief executives are losing confidence in our Finance Minister's economic growth plan.

It reveals that 43 per cent of business leaders say Willis' growth agenda is not appropriately positioned to lift New Zealand's economy this year, compared with just 35 per cent who back it. A further 22 per cent remain unsure.

As for Willis' own performance ratings? It’s taken a dive. She's scored an average of 3.09 out of 5 across her finance, economic growth, and social investment portfolios. That's down from last year's score of 3.88.

Hardly a resounding victory for the Minister that is tasked with turning our economy around. I fully concede it's not an overnight job. It takes time but I also want to point to the fact that last week's GDP figures showed a near 1 per cent drop in the June quarter.

Listen to Will’s Word on Facebook below.

Is this economic mismanagement? It is hard to see light at the end of what has been a very long tunnel. Don't get me wrong, I'm an optimist, but it is getting increasingly difficult to see how Willis' plan will get us out of this economic slump.

So if I'm a “merchant of misery”, as Nicola Willis likes to use to describe those talking down the economy, sign me up. I'll wear that title proudly: “William Terite, the merchant of misery”.

Because this economy at the moment, even for the everyday observer like myself, it is tough to see how this government is going to get us out of the hole we're in.

That's Will's Word.