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

 


Cunliffe pledges surpluses, unemployment down to 4%

Cunliffe pledges surpluses and to get unemployment to 4 percent by end of first term

May 12 (BusinessDesk) – Labour Party leader David Cunliffe has pledged to reduce the unemployment rate to 4 percent by the end of his first term, if elected, from 6 percent currently, saying the Opposition would create 20,000 more jobs than National is projecting.

Cunliffe said a Labour government would also remain committed to running budget surpluses “unless there’s another international downturn or domestic disaster that necessitates a counter-cyclical policy.”

Labour would drive jobs growth through a combination of policies including more government buying of Kiwi-made products, stimulating production of higher-value wood products to boost forestry jobs, and create jobs in the construction sector via its ‘KiwiBuild’ plan to build 100,000 affordable homes over 10 years.

He also said Labour’s policies of imposing a capital gains tax would shift more investment into the productive sector, while its plan to establish a central electricity buying agency to bring down power prices would cut costs to business and households.

Labour’s plan to amend the central bank’s monetary policy to include a lever over retirement savings would contribute to jobs growth easing interest rates and the kiwi dollar, making exports more competitive and increasing household disposable income, he said.

“This programme to drive economic growth and improve the lives of New Zealanders will be built on solid fiscal foundations,” Cunliffe said in a statement. “This is in keeping with our record of running consistent surpluses and paying down debt.”

Cunliffe’s policy announcement comes before Thursday’s annual Budget, where Finance Minister Bill English is expected to upgrade the government’s forecasts for economic growth, giving it room for modest new spending while building on a return to fiscal surpluses from the 2014/15 year.

The Green Party is to launch an alternative budget statement tomorrow, and the ACT party announced a flat tax policy over the weekend.

Across the Tasman, the newly elected conservative Coalition government of Prime Minister Tony Abbott will publish its first Budget, which is expected to include major cuts to government agencies, welfare programmes, and corporate support.

(BusinessDesk)

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Scoop Business: NZ Dollar Catches Breath After "Goldilocks" Slump

The New Zealand dollar edged up following its dramatic slump yesterday after the Reserve Bank confirmed speculation it intervened in the currency market last month and PM John Key suggested a “Goldilocks” level far lower than at present. More>>

ALSO:

Biosecurity: Kiwifruit Claim To Hold Officials Accountable For Psa

Kiwifruit growers have joined forces to hold Biosecurity NZ accountable in the courts for its negligence in allowing 2010’s Psa outbreak that devastated New Zealand’s kiwifruit industry and exports. Foundation claimants representing well ... More>>

ALSO:

Poison: Anglers Advised Not To Eat Trout In 1080 Areas

With the fishing season opening in just a few days (1 October 2014), anglers are being warned by the Department of Conservation(DOC) not to eat trout from pristine backcountry waters and their downstream catchments, where the department is conducting 1080 poisoning operations. More>>.

ALSO:

Quotas: MPI Swoop On Suspected Fraudulent Fishing Activity

Ministry for Primary Industries (MPI) compliance officers swooped on a Hawkes Bay fishing enterprise today to secure evidence in an investigation into suspected fraudulent activity... “The investigation involves activity throughout the commercial supply chain – catching, landing, processing and exporting.” More>>

ALSO:

Scoop Business: Fonterra Slashes 2015 Milk Payout, Earnings Tumble 76%

Fonterra Cooperative Group cut its forecast 2015 milk price payout by about 12 percent, citing weaker global dairy prices and said there is a risk of further declines given strong global milk production. More>>

ALSO:

Scoop Business: RBNZ Keeps OCR At 3.5%, Signals Slower Pace Of Future Hikes

Reserve Bank governor Graeme Wheeler kept the official cash rate at 3.5 percent and signalled he won’t be as aggressive with future rate hikes as previously thought as inflation remains tamer than expected. The kiwi dollar fell to a seven-month low. More>>

ALSO:

Weather: Dry Spells Take Hold In South Island

Many areas in the South Island are tracking towards record dry spells as relatively warm, dry weather that began in mid-August continues... for some South Island places, the current period of fine weather is quite rare. More>>

ALSO:

Get More From Scoop

 
 
Computer Power Plus

Standards New Zealand

Standards New Zealand

Mosh Social Media
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news