26 April, 2002

“Twenty-two years after he last stood for the National Party the Reserve Bank Governor has reminded us of his politics,” New Zealand First Leader, Winston Peters said.

“Dr. Brash has had the reputation as a leading central banker but has been a proponent of the failed monetary policies that has seen New Zealand’s position in the world continue to decline. These policies have come at a huge cost to New Zealand businesses seeking to increase their export markets, to borrowers and innovators who have also been put off vital developments, and to the social fabric of our society because of the resultant stunted economic growth.

“National is obviously keen to pursue these same failed policies while New Zealand First looks forward to a new central bank regime that, in the interests of business and all New Zealanders ought to be amenable to including export, growth, and employment objectives as part of the policy targets agreement between the government and the new Governor of the Reserve Bank. It is time to learn from the experiences of successful economies and move away from the myopic focus on inflation.

“The claim that National Leader English knew nothing of this latest development confirms for us all that the takeover of the National party is complete and further undermines the credibility of his leadership,” Mr. Peters said.

ENDS

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