Story: Ideas in New Zealand

Floating the New Zealand dollar

Floating the New Zealand dollar

This cartoon appeared in March 1985, when New Zealand allowed the value of the dollar to be set by international demand rather than by the government. This was an important symbolic act expressing the determination of the Labour government, elected the previous year, to allow market forces to rule. Here Minister of Finance Roger Douglas formally launches the dollar, represented by a colander full of holes – hardly an endorsement of the policy!

Using this item

Alexander Turnbull Library
Reference: A-314-1-019
Cartoon by Peter Bromhead

Permission of the Alexander Turnbull Library, National Library of New Zealand, Te Puna Mātauranga o Aotearoa, must be obtained before any re-use of this image.

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How to cite this page:

Jock Phillips, 'Ideas in New Zealand - The new right', Te Ara - the Encyclopedia of New Zealand, http://www.TeAra.govt.nz/en/cartoon/45508/floating-the-new-zealand-dollar (accessed 29 February 2020)

Story by Jock Phillips, published 22 Oct 2014