Do I need to remind you that politics is show business?

It's all about seeming to be the best instead of necessarily being the best.

This is why politicians often say the most ridiculous things and make the most outlandish promises. It’s also why they boil complex issues down to simple catchy slogans which are repeated ad nauseum until they gain their own reality.

But eventually, reality catches up.

Yesterday’s backdown over the Fast-Track legislation is proof of that. Under the coalition’s original proposal Simeon Brown, Shane Jones and Chris Bishop had the power to green-light anything, even if all advice was against it.

This was all in service of the thesis that New Zealand is bogged down in red tape. A slogan hammered time and time again in the election until a significant number of electors believed that giving 3 ministers such power was without risk - and possibly good for the country.

The coalition’s answer was totalitarian. I was flabbergasted when I first read the policy and astounded that there was not more outrage. It was immense power in the hands of 3 men.

Imagine if Michael Wood, Megan Woods, and Willie Jackson had been granted such power in the last Government. You’d be up in arms saying it was undemocratic and dictatorial. It was much more undemocratic than any co-governance plan. But we all heard silence. We’d been well trained and well indoctrinated and no one complained.

Now the National-led coalition has seen sense and now the new Fast-Track legislation means a panel of experts in the field will have more say. Which looks almost the same as Labour introduced before the last election - because it is. So in other words, this Government is no more committed to fast tracking as the last lot. So then you ask yourself - what was all that about?

It's all about politics, it's all about getting your vote.

Meanwhile, the credit agency Fitch came out with their assessment of our credit rating and with it our economy. And despite the widely distributed idea that we’re stuffed for generations - the credit agency called us an advanced and wealthy economy. Excuse me?

They paid credit to macroeconomic corrections that started during Labour’s reign. I beg your pardon?

They said New Zealand has a long-standing commitment of fiscal prudence. This is all running against the popular mantra that the last Government left an economy in tatters. It’s not in good shape but it’s also not in tatters.

Fitch pointed out that the real problem with New Zealand’s economy is our high level of household debt and a high current account deficit. In other words, we save less than we spend and make up the difference by borrowing foreign capital.

That’s on you and me and the long-running housing crisis rather than any crisis in Government spending.

But you know, politics.

Good politics says it’s all the fault of the last lot and the best Government policy is to do less. We’ve become wet, scared, and lacking mojo and confidence.

LISTEN ABOVE

See omnystudio.com/listener for privacy information.