Ryan Bridge: The OECD's report needs to be taken with a grain of salt

It's somewhat ironic the latest lecture we're getting from an office of global boffins is headquartered in Paris. 

No offence to the French, but they're screaming out for lesson in basic economics.

Their debt-to-GDP ratio is 118%. Their debt is 60% above the EU limit. 

You're used to hearing about the Italians and the Greeks, but the French are up there with them in the top three most indebted nations in the bloc. 

The country nearly fell over trying to cut back pension spending. They spend billions on stuff we'd consider 'nice-to-haves'. 

The OECD is a multi-nation group; it just happens to be based in Paris. It's been around since 1961.

But they've come up with a bunch of stuff they think we need to do, including linking pensions to life expectancy. This is the same group that wanted us, a few years back, to tax property and shares!

They're also saying we should have quotas for women on company boards, which even Helen Clark doesn't think is a good idea. 

So, a lot of this should be taken with a grain of salt and is probably better shouted out the window of their offices in Paris. 

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Episode Transcript

Speaker 1 (00:00):
It is somewhat ironic the latest lecture we're getting from
an office of global boffins is headquartered in Paris. No
offense to the French, but they are screaming out for
a lesson in basic economics. Their debt to GDP ratio
one hundred and eighteen percent. Their debt is sixty percent
above the EU limit, breaking all sorts of records for
the wrong reasons. You're used to hearing about the Italians

(00:20):
and the Greeks in the EU, but the French are
up there with them too, in the top three most
indebted nations in the Bloc. The country nearly fell over,
remember that, trying to cut back on pension spending. Poor
old Macron they spend billions on stuff that we would
consider nice to have. Basically, you ask them, do you
want to spend something, and they say that's the French.
The OCD is, of course, a multi nation group, just

(00:42):
happens to be based in Paris, been around since the sixties.
But they've come up with a bunch of stuff that
they think that we need to do, including linking pensions
to life expectancy. So if you're on average meant to
live longer, you'll get your pension later. That's the idea. This,
of course is a problem because not everyone is the average.
Why should somebody gets super before you, only for you

(01:02):
to get hit by a bus or hit by cancer
and only end up with a few years on your
Gold card getting discount public transport. This is the same
group that wanted us a few years back, you might
remember to tax property and shares. I know they are
also saying we should have quotas for women on boards
in publicly listed companies. I mean even Haln Clark doesn't

(01:25):
think that's a good idea. So a lot of this
is to say that it should be taken with a
grain of salt, and probably actually better shouted out the
window of their offices in Paris. For more from Early
Edition with Ryan Bridge, listen live to News Talks at
b from five am weekdays, or follow the podcast on iHeartRadio.