Tuesday 18th Jul 2000
Rodney Hide
Media Release -- Economy

ACT Finance spokesman Rodney Hide says Finance Minister Michael Cullen remains “in denial” and has to accept some responsibility for the poor business outlook, confirmed again by the quarterly survey, carried out by the New Zealand Institute of Economic Research.

“Michael Cullen is still in denial mode blaming the drop in business confidence on world events, the Reserve Bank and the ACT party for criticising poor Government policy,” Mr Hide said.

“Michael Cullen’s denial just reconfirms for business that the Finance Minister is seriously out of touch and he must face up to the lack of business confidence as the first step to achieving business recovery.”

Mr Hide said the Finance Minister must accept the devastating effect the tax hike, the re-nationalisation of Accident Insurance and the Employment Relations Bill have had on the mood of investors and employers.

“It’s time that Michael Cullen provided a positive programme for business, for investment and for jobs. Cancelling the Employment Relations Bill would be a good place to start,” Rodney Hide 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.

© Scoop Media