Ruth Richardson was the woman behind the mother of all budget cuts in 1991 when she was the Finance Minister.
She joined Lloyd Burr and Wilhelmina Shrimpton on Thursday evening to talk about the government's economic crisis.
"It's like pressing the rewind button and watching a horror movie", was how Richardson described the current economic situation in New Zealand.
The main worry for her was the blame the government seems to put on everyone else, failing to accept any responsibility for the recent rise in inflation rates.
"We're seeing a government that's spending huge amounts of energy calling out so-called other culprits, blaming others and no evidence at all that the government is willing to look at shouldering their own responsibilities."
Richardson worries that the current government doesn't truly understand the nature of the problem and is not willing to spend the capital required to tackle the problem.
"It's evident that they (the government) are in a blame game of everybody else but not me, nothing to see here."
She says we need all hands on deck at a time like this, and monetary policy won't be able to solve the issue by itself.
"The pandemic and the war have made it even more problematic," Richardson told Lloyd and Wilhelmina but says the option to blame external forces is giving the government a way out of taking responsibility for the continued rise in inflation.