Government can’t keep borrowing to prop up New Zealand households

Dr Bryce Wilkinson ONZM
NZ Herald
5 November, 2026

Almost 180,000 more New Zealand citizens have left the country than have returned in the past four years. Most have gone to Australia.

Higher incomes in Australia are likely a factor. Australians earn about 30% more per person than New Zealanders. That gap is worth roughly $20,000 a year for every New Zealander, or about $105 billion in total.

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