Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


Trade Data Highlights Big Squeeze

28 November 2003
PR 242/2003
Trade Data Highlights Big Squeeze

The 19th consecutive fall in export receipts has highlighted the "big squeeze" on farmers from a high exchange rate and unhelpful government policies, said Tom Lambie, President of Federated Farmers of New Zealand (Inc).

Overseas merchandise trade data released today showed that exports fell 6.1 percent in October from the same month last year. Export receipts last rose above the same month the previous year in March 2002.

"New Zealand exporters can do better. But they are not helped by seemingly determined government efforts to hamper exporters every step of the way," said Mr Lambie.

The latest hurdle put in place of exporters is the recent proposed $20 million "security fee" on traders to pay for stricter United States' border controls.

"The government does not drive the New Zealand economy, farmers and other entrepreneurs do. Today's data shows the government needs to back off and let farmers get on with the business of farming," Mr Lambie said.

"In good and bad times we want policy from the government that will deliver on the wish to see New Zealand's economy perform at its best. But the reality is that in the current world market environment, farmers are facing a cost-price squeeze exacerbated by our government's actions."

Government intervention includes 18 new taxes, higher 'invisible' taxes such as fuel excise, and rising local government rates.

"We need a coherent set of policies designed to enhance the long term growth potential of this country. We need policies that do not undermine our competitiveness and we certainly do not need government regulation based around the government's view of what the market wants," Mr Lambie said.


© Scoop Media

Business Headlines | Sci-Tech Headlines


I Sing The Highway Electric: Charge Net NZ To Connect New Zealand

BMW is turning Middle Earth electric after today announcing a substantial contribution to the charging network Charge Net NZ. This landmark partnership will enable Kiwis to drive their electric vehicles (EVs) right across New Zealand through the installation of a fast charging highway stretching from Kaitaia to Invercargill. More>>


Watch This Space: Mahia Rocket Lab Launch Site Officially Opened

Economic Development Minster Steven Joyce today opened New Zealand’s first orbital launch site, Rocket Lab Launch Complex 1, on the Mahia Peninsula on the North Island’s east coast. More>>


Marketing Rocks!
Ig Nobel Award Winners Assess The Personality Of Rocks

A Massey University marketing lecturer has received the 2016 Ig Nobel Prize for economics for a research project that asked university students to describe the “brand personalities” of three rocks. More>>


Nurofen Promotion: Reckitt Benckiser To Plead Guilty To Misleading Ads

Reckitt Benckiser (New Zealand) intends to plead guilty to charges of misleading consumers over the way it promoted a range of Nurofen products, the Commerce Commission says. More>>


Half A Billion Accounts, Including Xtra: Yahoo Confirms Huge Data Breach

The account information may have included names, email addresses, telephone numbers, dates of birth, hashed passwords (the vast majority with bcrypt) and, in some cases, encrypted or unencrypted security questions and answers. More>>


Rural Branches: Westpac To Close 19 Branches, ANZ Looks At 7

Westpac confirms it will close nineteen branches across the country; ANZ closes its Ngaruawahia branch and is consulting on plans to close six more branches; The bank workers union says many of its members are nervous about their futures and asking ... More>>

Interest Rates: RBNZ's Wheeler Keeps OCR At 2%

Reserve Bank governor Graeme Wheeler kept the official cash rate at 2 percent and said more easing will be needed to get inflation back within the target band. More>>


Get More From Scoop

Search Scoop  
Powered by Vodafone
NZ independent news