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Economic warnings for Government

Today’s sharemarket tumble is a timely warning to the Government, Opposition Finance spokesperson Bill English said today.

“A rocky ride on the sharemarket was pretty inevitable after the US meltdown, and I hope New Zealand investors keep things in perspective and don’t overreact.

“But combined with the highest CPI quarterly increase since 1996, this is a warning to the Government to keep our economy on the straight and narrow.

“We are vulnerable to forces outside our control. New Zealand’s bounce-back from the Asian financial crisis was so strong because of our sound economic management.

“We can only afford silly policies for so long, before they begin to eat away at our economic prosperity.

“On the overseas circuit, Dr Cullen is trying to convince investors he will be a prudent economic manager.

“All the talk in the world to overseas investors doesn’t hide the fact that the Government’s economic policies – especially with ACC and the Employment Relations Bill – will be bad for business and ordinary New Zealander families.”

Ends

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