Hockey praises New Zealand economy AUSTRALIA'S shadow treasurer Joe Hockey has praised the New Zealand economy and says Australia can learn lessons from the way it is managed. Your economy is doing so well. You've got your act together in New Zealand," he told TV3's The Nation programme on Saturday. The Liberal Party member for North Sydney said the cost of doing business in New Zealand was 20 per cent lower than in Australia but lower wages were not the only factor. He said he was prepared to look at the issue of tax credits on dividends paid by Australian companies to New Zealand shareholders. I'm prepared to look at it because I have a very high regard for (Prime Minister) John Key and Bill English who I consider good friends, mates. It's certainly an argument that Bill has put. Australia needed to make prudent cuts to expenditure, pare back on waste and get rid of taxes that were a hand-break to growth, he said. The Australian federal election will be held on September 7.