We were struck last week by the extent to which the few remaining supporters of NZ First are leaning towards National (over 90% want NZ First to support a National-led Government). This is a big move. So we have been trying to figure out why. One answer - bribery in the form of free money.
Have a look at the statistics on student debt. Free student loans are targeted at those in their teens and early 20s right? Actually there is no age cap. And guess where the big growth in uptake has been? The young?? No, the elderly, those 60 plus.
Have a study of these statistics. After the free money policy (interest free student loan bribe) was introduced the growth in student debt for younger students went up but reasonably modestly - under 18s borrowed 5% more, those 18-20 12% more and those 20-23 7% more. But have a look at 60-65% and 65+ 39% and 56% growth respectively!
And have a look at the amounts being borrowed. These are not small sums. The average amount borrowed for those 60-65 grew from $4,559 in 2004 to $11,695 in 2006. For those 65+ the average borrowing grew from $3,364 in 2004 to a staggering $20,730 in 2006. We would love to see what the figure has grown to in 2007. Are we ever going to this money re-paid?
So in Tauranga and Waikanae there are plenty of voters saying "thanks very much Helen and Michael, very generous. We still agree with much of what you say Winston - particularly about those foreigners - but you never delivered us such a windfall gain."
Why have we not been reading anything about this interesting trend in the mainstream media?
