Economy in good shape, Hockey tells NZ

Treasurer Joe Hockey has told New Zealand that there is no crisis in the Australian economy. Source: AAP

JOE Hockey has told New Zealand that there is no crisis in the Australian economy, nor is it in trouble.

THE treasurer also made no mention of the "budget emergency" he and his government referred to when justifying their unpopular budget to Australians.

Instead, Mr Hockey reassured Kiwis that their second biggest trading partner is benefiting from 23 years of consecutive economic growth."The Australian economy is not in trouble," he told New Zealand political current affairs show The Nation on Saturday.Mr Hockey also denied drastic reforms to Australian healthcare, education and taxes were about ideological change.He said his government's reforms were about continuing growth and stimulating other parts of the economy."There's no crisis at all in the Australian economy," the treasurer said."The fact is you need to move on the budget to fix it now, and you need to undertake structural reform to structure the economy in the years ahead."Despite the changes, New Zealand has nothing to worry about in terms of its trading partnership with Australia, he said."We're like brothers and sisters. There might be a little competitive tension in the family, but there's no doubt in my mind that, you know, we're shared blood."

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