New Zealanders living in the red

Monday 26 July 2004

A new study of wealth and debt suggests New Zealanders are not doing as well as those in other countries, and that policies may need to change to help people get ahead.

By The Landlord

The report says one in six people are living in the red, and that median household wealth in Australia is more than three times that of New Zealand.

The findings come in a report by a group called the New Zealand Institute, which is being launched on Monday.

The institute says policies such as those on savings, home ownership and student loans are contributing factors, and it hopes to trigger debate around the issue.

The privately-funded think tank is first examining asset ownership in New Zealand and concerns people have about acquiring assets.

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