John Key

The reformer’s job is never done, and there is plenty to do. Malcolm Turnbull knows this, and John Key should not forget it

Speculating and commenting on central banks’ next moves is something for foreign exchange traders, not Prime Ministers

Während Australien sich auf seinen Reform-Lorbeeren ausruhte, haben die Neuseeländer erfolgreich einen neuen Modernisierungspfad beschritten. Die Australier müssen es ihnen nun nachtun, wenn sie eine erfolgreiche Nation in der vom Pazifik geprägten Weltwirtschaft des 21. Jahrhunderts bleiben möchten.

Mr Key’s defining strategy is one of incremental radicalism. It resists any bold rhetoric or big picture reforms. In their stead, reforms are taken one step at a time. This enables the government to make its case and take the public along a journey.

New Zealand proves that reforms, even in mature democracies, are still possible. They should be possible in Australia as well where they are much needed. For any political leaders wishing to embark on a process of economic reform, whether in Australia or in Europe, a look at New Zealand may well be inspirational.

Do today’s politicians have the courage to make hard choices? Or has the furious pace of modern politics put an end to the age of reform? While Australia has been avoiding difficult decisions, the New Zealanders have been silently forging ahead.

Ultimately, Australia’s future prosperity depends on Abbott’s succeeding in just that. The adoption of the New Zealand method of quiet, incremental radicalism may be Australia’s best hope of rediscovering the art of reform.

Key has proved himself to be an exceptionally skilled politician, especially when operating with slim majorities. This term will show whether history will also judge him as one of New Zealand’s great Prime Ministers. If he is bold enough in his third term, it might even secure him a fourth term.