I'm pleased to be able to correct an earlier negative of assessment of ANZ economist Cameron Bagrie by noting that he's come off the fence to make the obvious point that while the NZ government can do nothing at all about the international supply and demand problems pushing up the international price of oil, they can do something about the local price of petrol which is made up in large part by a large payment to government. Says Bagrie:
ANZ Bank chief economist Cameron Bagrie says the Government should cut petrol taxes by 10 or 20 cents a litre to reduce the squeeze on incomes and help reduce inflation.
Bravo, sir. I agree with you.