Parliament

Gordon Campbell | Parliament TV | Parliament Today | Video | Questions Of the Day | Search

 

Reserve Bank Review A Claytons Effort Says Dunne

9 May 2000

RESERVE BANK REVIEW A CLAYTONS EFFORT SAYS DUNNE

The review of the Reserve Bank announced today by the Minister of Finance is so narrow it is almost meaningless.

“I fully understand Dr Cullen’s fear of the reaction of overseas investors to a more-ranging review given their perception of the generally flaky nature of his economic policies, but that does not justify establishing what is essentially a Claytons review of monetary policy.”

“It is now over ten years since the Reserve Bank Act was passed, and given changes in the domestic and international economic environment in that time it would be appropriate for a wide-ranging review to take place.”

“In normal cirmcumstances that should not be seen as a threat to economic stability, but an opportunity to build on what has been achieved to date.”

“However, it is a shocking commentary on the extent to which the international economic community sees New Zealand has lost the plot under the Labour/Alliance Government that Dr Cullen has had to tailor his long-promised review to alleviate their anxieties.”

“Giving New Zealand’s pioneering role in the area of central bank autonomy, this country of all countries should be able to conduct a thorough review of all aspects of monetary and central bank policy without the accompanying fear that it will send adverse signals to the international community,” he says.

Mr Dunne says that the limited review Dr Cullen has set up will fail on all counts.

“It will neither satisfy the Reserve Bank’s critics who will feel that their real issues of concern have been pushed to one side.”

“Nor it will satisfy the Bank’s supporters who will see it as nothing more than a sop to the Alliance and a mischievous smokescreen for conveying messages to the Reserve Bank about its performance that Dr Cullen is unwilling to convey in person.”

“Either way it will confirm this Government’s steady retreat from the economic policy fundamentals of the last decade or so,” Mr Dunne says.


ENDS


New Zealand’s Liberal Party


MEDIA STATEMENT
HON PETER DUNNE, MP
LEADER UNITED NEW ZEALAND
Parliament Buildings, Wellington 1.
Ph(04)471 9410 or (025) 469 808. Fax (04)499 7266.
e-mail: peter.dunne@parliament.govt.nz. Internet Address: http://www.united.org.nz

© Scoop Media

 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

New Reports: Flood Risk From Rain And Sea Under Climate Change

One report looks at what would happen when rivers are flooded by heavy rain and storms, while the other examines flooding exposure in coastal and harbour areas and how that might change with sea-level rise.

Their findings show that across the country almost 700,000 people and 411,516 buildings worth $135 billion are presently exposed to river flooding in the event of extreme weather events...

There is near certainty that the sea will rise 20-30 cm by 2040. By the end of the century, depending on whether global greenhouse gas emissions are reduced, it could rise by between 0.5 to 1.1 m, which could add an additional 116,000 people exposed to extreme coastal storm flooding. More>>

ALSO:

 
 

Gordon Campbell: On The Commerce Commission Fuel Report

The interim Commerce Commission report on the fuel industry will do nothing to endear the major oil companies to the New Zealand public... More>>

ALSO:

Emergency Govt Bill: Overriding Local Licensing For The Rugby

“It’s pretty clear some clubs are having difficulty persuading their district licensing committees to grant a special licence to extend their hours for this obviously special event, and so it makes sense for Parliament to allow clubs to meet a community desire." More>>

ALSO:

Leaving Contract Early: KiwiBuild Programme Losing Another Top Boss

Ms O'Sullivan began a six-month contract as head of KiwiBuild Commercial in February, but the Housing Ministry has confirmed she has resigned and will depart a month early to take up a new job. More>>

ALSO:

Proposed National Policy Statement: Helping Our Cities Grow Up And Out

“We need a new approach to planning that allows our cities to grow up, especially in city centres and around transport connections. We also have to allow cities to expand in a way that protects our special heritage areas, the natural environment and highly productive land." More>>

ALSO:

Ombudsman's Report: Ngāpuhi Elder 'Shocked' By Conditions At Ngawha Prison

A prominent Ngāpuhi elder is shocked to find inmates at Ngawha Prison are denied water and forced to relieve themselves in the exercise yard... Chief Ombudsman Peter Boshier has released a report highly critical of conditions at the Northland prison. More>>

ALSO:

Promises: Independent Election Policy Costing Unit A Step Closer

The creation of an entity to provide political parties with independent and non-partisan policy costings is a step closer today, according to Finance Minister Grant Robertson and Associate Finance Minister James Shaw. More>>

ALSO:

School's In: Primary And Intermediate Principals Accept New Offer

Primary and intermediate school principals have voted to accept a new settlement from the Ministry of Education, which includes entrenched pay parity with secondary principals. More>>

ALSO:

IPCA On 'Rawshark' Investigation: Multiple Police Failings In Hager Searches Confirmed

The Independent Police Conduct Authority has found that the Police's unlawful search of Nicky Hager's property in October 2014 resulted from an unwitting neglect of duty and did not amount to misconduct by any individual officer... More>>

ALSO:

Broadcasting Standards: Decisions On Coverage Of Mosque Attacks

The Authority upheld one of these complaints, finding that the use of extensive excerpts from the alleged attacker’s livestream video on Sky News New Zealand had the potential to cause significant distress to audiences in New Zealand, and particularly to the family and friends of victims, and the wider Muslim community. More>>

 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

InfoPages News Channels