Josh Hoskin Smart Money jhoskin@goldridge.co.nz

I am constantly astounded with politicians trying to gain points by comparing our country's economy to that of Australia. For me, it is like comparing apples with oranges or trying that wonderful trick of putting a square peg in a round hole. The comparison is completely meaningless. Both countries are very different, so why bother.

We all know Australia does very well from its rich natural resources. It is not just a one trick pony either, they have a vast array of other industries that create a vibrant country. I believe the biggest difference between our two countries is population – we have to understand we are a small country which for business people, having a high volume of sales is very difficult. I will give you an example of what population can do; in Whangamata the local service industries such as shops, cafes and dairies can do up to 75 per cent of their turnover between Boxing Day and the end of the January. The reason is simple, a population explosion. During the summer holidays they have thousands of people arriving looking for ways of spending their money.

So a word to the wise; stop spending time comparing ourselves to Australia in economic terms – it is a pointless exercise. Instead, let's spend more time on creating jobs for people. One last point worth making, last time I checked we are still the Rugby World Champions and this is only one of many reasons why New Zealand can hold its own with any country.

The article is based on personal opinion and may not be representative of the views of Goldridge Ltd. Josh Hoskin is an authorised financial adviser with Goldridge Wealth Management. A copy of his Disclosure Statement is available free on request. This article is not personalised advice under the Financial Advisers Act 2008. Readers should not act on any suggestions in this column without taking professional advice that takes into account their current circumstances and appetite for risk.