Blame it on the quake
Last week, John Key said that, due to the earthquakes, “from June to June, my guess is that we’ve lost $12 billion in GDP”. Later, he said it was $15b over 4 years due to the quakes. Now, Treasury says most of that $15b is from the recession Key and English had led us into before the quakes. The Nats are trying to use the quakes to hide their failings.