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• Productivity in the sector has improved by more than 33%, still below some of the productivity improvements obtained when other areas of government were first corporatised and then privatised but dramatic nevertheless.

• This improvement in productivity along with lower taxation and various tax credits means that all New Zealanders have access to better, more reliable and secure health care than was previously available.

• Leading health care companies from around the world have flocked to New Zealand to enter the market.

 Doctors have responded to this new situation in a variety of ways

• Some have joined the new health organisations that have sprung up.

• Some have established their own businesses, supplying their specialist service to the various insurance companies.

They generally:

• Rent an area in the hospital

• Rent theatre space

• Employ nurses and other specialist staff and services

This change as much as anything has improved productivity throughout the sector.

Outcomes have improved in terms of quality as well as quantity.  Satisfaction has improved as waiting lists have all but disappeared and consumer choice has risen. 

Welfare

• Improved Incentives as a result of the deductible (first 6 months).  As a result, the number of working age beneficiaries has dropped by more than 50%.

• Private sector participation has also lowered costs particularly in the areas of sickness and accidents.

• Vigorous measures to control costs beyond benefits paid such as housing are now in place.

 Retirement

• 75% of New Zealanders under the age of 30 now look forward to having investment assets of more than $1 million in retirement.

• A married couple 15 years from retirement are now looking at having an extra $200,000 in retirement (i.e. an extra $200 a week).

• Hardworking low-income earners who did not expect to have any savings in retirement now look forward to having considerable savings.  Substantially more than those who had long periods on a benefit. 

• With tens of thousands of dollars in their own savings accounts (growing each year) New Zealanders' outlook about their future has improved dramatically.

Politics

Politics of dependency - I know best is out the window.  The left are having to change their approach to capital ownership and choice in education, health and welfare.  As a result, the gains made are permanent.

Superannuation  -  Chart 1  -  Married (both partners qualify)

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