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Latest economic figures expose gloom merchants

Latest economic figures expose gloom merchants

Source: CTU

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Gross Domestic Product statistics out today are further evidence that business commentators’ attempts to darken economic and political confidence are out of step with reality, Council of Trade Unions President Richard Wagstaff says.

"At the election, this Government rode in on a platform of making our economy work better for average New Zealanders, rather than just the few with plenty. Since then, there has been a carefully coordinated campaign from vested interests to talk the business community into depression" he said.

"But the stats out today show that businesses are doing well. Overall, G.D.P was up by 1 percent in the three months to June. This exposes the gloom merchants trying to undermine better sharing in our economy with their Chicken Little rhetoric. GDP per person was up 0.5 percent over the three months, the largest increase in two years and more than the average 0.3 percent of the previous Government."

"We expect the Wellbeing Framework will further our understanding of economic performance, and give us more perspective on how our nation is faring."

"The real story here is that when the Government has a clear work programme and the basics of economic activity are good, most people, including business owners will keep calm and carry on. That’s the kind of pragmatism that has always driven Kiwi enterprise, and we don’t expect it to change any time soon."

ENDS


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