The mood of the nation is considerably different now compared
with five years ago, ANZ chief economist Cameron Bagrie told
the Queenstown Chamber of Commerce breakfast yesterday.
Today, ''generally speaking you would get more than half'' of
New Zealanders saying yes in a referendum to compulsory
savings (KiwiSaver) and raising the retirement age.
But in 1997, when a referendum was held on compulsory
savings, it was rejected by more than 90% of the population
and it would have been a similar outcome for a question of
whether to raise the retirement age, Mr Bagrie said.
''The mood of a nation is suddenly different. They're
starting to think different ... and I take that as a real ...
A year ago, Mr Bagrie predicted the New Zealand economy could
reach ''rock star'' status in the coming years. Yesterday, he
said the dynamics of the ''rock star'' did worry him.
He told the resort's business leaders economies were
notorious for going through stages, induced by humans who
were ''wired that we must stuff things up every 10 years'',
and that throwing around terms like ''rock star'' could
influence haphazard behaviour from businesses or complacency.
''Those dynamics start to sow the seeds of the next
The effects of the 2008 global financial crisis were still
being felt in some parts of the world but, ultimately,
New Zealand was ''on a real firm track in terms of where we
are going'' and the transtasman migration flow ''collapsing''
illustrated the positive direction New Zealand was taking.