" So by your reckoning , NZ is the same all through out because it dosent have states ? "
Well they pull cow tits throughout the country, ergo one interest rate and one tax rate,it really isn't rocket science you know.
Looking at the 2015 year, kiwilands biggest earner was tourism, hello they the punters, tour throughout the country, therefor one interest rate and one tax rate need apply.
Same with their fishing and timber exports, all done throughout the country so one interest rate and one tax rate need apply.
" As for your second comment , how would you regulate that? "
“We must not lose sight of the essential condition
that this is to be a federation of states and not a single government of
Australia. The separate states are to continue as autonomous bodies, surrendering only so much of their power as is necessary for the establishment of general government to do for them collectively what they cannot do individually for themselves.”
Sir Samuel Griffith, 1891
The states need to be able to raise and or lower interests rates as one of the levers open to them for good economic management.
That they cannot is counter productive to the MAX ,its like been the proverbial one armed paper hanger minus the hangers on IMHO.
Raider
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