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NZ Should Aim For 5% Economic Growth

Monday 26th Jun 2000
Rodney Hide
Media Release -- Economy


“New Zealand should be aiming for an annual growth rate of 5% and it’s time the Government set out its plan and vision for how to achieve it,” ACT Finance Spokesman Rodney Hide said today.

Commenting on the gross domestic product result out today showing an encouraging 4.4% growth rate for the year to March, Rodney Hide said it was disappointing that the Government’s expectation over the next three years was for growth averaging less than 3% per year.

“The problem we now face is with a Government whose economic programme attacks the fundamentals that had boosted growth to 4.4%. The Government’s attacks on businesses like tax hikes and the Employment Relations Bill are the exact opposite of what we need to be doing to reach the 5% target,” said Rodney Hide.

“The Government needs to set a target of 5% and to set out the policies by which they intend to achieve it,” he said.

ENDS

For more information visit ACT online at http://www.act.org.nz or contact the ACT Parliamentary Office at act@parliament.govt.nz.


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