In the 1980s, every peak of growth, at 4 or 5%, within a year or so, collapsed into negative figures.
In the '90s, thanks to that new policy framework, our growth rate this year, at the bottom of the business cycle, is double the average performance of this country, in 1977-91.
Now we build growth on growth.
This is New Zealand's track record for growth, right back to 1954, in the golden days of Sid Holland. Take it piece by piece - nothing anywhere in the last 50 years comes close to matching our own sustained delivery since 1990.
The quality of our achievement is without precedent.
Number 15
5 September 1997
Charts