Another Bank think the loans policy is poop

[Imported from Whale Oil Beef Hooked on Blogger]

The cost of Labour’s key election promise on student loans is being questioned by a second bank’s chief economist.

This time it is the National Bank and its Chief Economist Dr John McDermott. He agrees with Westpacs assessment.

He hasn’t released his costings but said “the National Bank found it difficult to believe students would not take advantage of being able to borrow money without cost and then invest it at up to 6 per cent interest”.

And to make matter worse for Duck and Mrs Peter Peter Davis he said ” voters should beware of “magic potions that deliver economic nirvana – most are just snake oil”.


We don’t believe you, nor do two major banks, and the public is starting to do the same.


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