More competitive than Australia!

The good news on the economy just keeps on coming; the Herald reports:

New Zealand has been ranked the 18th most competitive country in the world, jumping five places from last year and overtaking Australia.
The country performed strongly in many areas - including higher education and financial markets development - but scored poorly for the quality of its infrastructure and number of skilled workers.
Released annually, the World Economic Forum's Global Competitiveness Report ranks 148 countries based on their level of productivity and prosperity.
Each country is assessed on 12 "pillars", including infrastructure, health and primary education, technological readiness, market size and business innovation.
New Zealand climbed to 18th in this year's ranking, while Australia dropped out of the top 20 for the first time with a score of 21.
Last year, New Zealand was ranked 23rd out of 144 countries and in 2011, 25th out of 142 countries.
Oliver Hartwich, executive director of the New Zealand Initiative, said New Zealand's climb up the ladder reflected an improving local economy and "prudent" pro-growth policies.

This is excellent news, especially the confirmation that New Zealand  is more competitive than Australia for the first time ever.  

And Oliver Hartwich suggests that New Zealand is defying international trends, whilst our economy is recovering faster than those of other countries; read on:

He said New Zealand was holding its competitive ground while other countries were slipping amid a weaker global growth outlook.
"The performance is more startling when you consider that just five years ago New Zealanders were staring at ballooning deficits and a deep recession while the Australian government was debt free and riding the tailwind of a mining boom," Hartwich said.
Australia's labour market ranking slumped 12 places to 54th globally and its government regulatory burden was ranked 128th.
The top 10:
1. Switzerland
2. Singapore
3. Finland
4. Germany
5. United States
6. Sweden
7. Hong Kong SAR
8. Netherlands
9. Japan
10. United Kingdom
Meanwhile, New Zealand placed in the top 10 for the quality of its institutions, health and primary education, higher education, goods and labour market efficiency, and financial markets development.
The country was ranked best in the world for the strength of investor protection, number of days to start a business, and ethical behaviour of firms.

There's been plenty of good economic news in recent months. Inflation and interest rates remain low, GDP growth is on an upward path, tax revenue is ahead of forecasts and the economy is tipped to return to surplus in the 2014-15 year. We have weathered the post-GFC recession better than most, and thanks to the conservative economic management of Bill English and John Key our economy is looking more robust by the month.

With that in mind, the big spending promises of the Three Amigos in #Labour'sGotTalent look increasingly bizarre and desperate; now is not the time for outlandish government spending and extravagant, inflationary pledges.