Winning Over the Public

In this context, the last few years of official rhetoric advocating restructuring have served the attempted purpose of softening people up for the years of economic hardship ahead. Continuing ideological campaigns seek to identify "New Zealand" with its present type of social system. Capitalists' problems are labelled "ours". Typically, the Planning Council refers to problems stemming partly from external developments which "we" can do little about, and partly from internal changes which are much more within "our" own control.

In particular, sacrifices are demanded because of "our" balance of payments difficulties, the implication being that the present high levels of overseas borrowing cannot continue indefinitely. Although New Zealand cannot borrow further from the International Monetary Fund without incurring supervision from that body (according to Reserve Bank economist R. S. Deane), there seems little reason to doubt the Prime Minister's frequent boasts that "our" credit rating with major international banks is still very high. After all, these banks are in business to lend out at interest and New Zealand (regardless of what government is in power) still compares well with foundering underdeveloped economies such as Turkey. Peru, Zaire, Iran. Furthermore, the tendency is for the banks to make new loans to their debtors in order to enable old loans to be repaid. IMF supervision, if it comes (for instance, in the shape of restrictive guidelines for government expenditure and credit control), will serve the overall interests of New Zealand capitalists in worsening the present economic crisis and seeking to control the restructuring process which follows. It seems reasonable to conclude that the primary purpose of official campaigns stressing "our" balance of payments problems is to "justify" the need for a period of slump.