Personal and corporate income taxes were cut up to 50 percent but loopholes were pretty well wiped out. Wholesale taxes were abolished. In the first years unemployment surged to nearly 11 percent. It has dropped to about 6 percent since 1991. Average incomes are up.
National revenues are up.
The government has begun running surpluses. New Zealanders still have only 60 percent of the per capita income of Americans but are closing. Growth has slowed recently but is considered to be on a sound long-term track. Inflation is being held close to 2 percent. New Zealanders have gained cheaper and vastly better telephone service and stores that stay open longer and have more goods.