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


Cullen's visit restores balance to investor debate

6 October 2000 Media Statement

Cullen's visit restores balance to investor debate

The Minister of Finance Dr Michael Cullen says he has received positive feedback from London following a successful investment visit last week.

The High Commissioner to London, Paul East, reported today that the Finance Minister's presentations dispelled some of the negative sentiment that had built up in the City towards the New Zealand economy.

Dr Cullen says he had been warned that London investors were feeling negative and he is pleased that his visit was able to restore some balance to the debate.

He says overseas investors tend to focus on a very narrow range of indicators as the basis for their assessment of an economy's performance. "London had been focusing on low business confidence and a high current account deficit.

"My visit provided the opportunity to discuss the economy in a broader context and to put the more negative indicators into context. Investors had gained a pretty bleak view of the New Zealand economy from the business confidence surveys. They saw New Zealand in a much more positive light after I explained that we had not undertaken a "massive swing to the left" and that we were committed to a programme of fiscal restraint and monetary policy orthodoxy.

"The National Australian Bank reports that since my visit there has been a pick up in interest in dealing in New Zealand currency," said Dr Cullen.

The Finance Minister attended three investor functions while in London and met with the Bank of England, Merril Lynch and Standard and Poors.


© Scoop Media

Parliament Headlines | Politics Headlines | Regional Headlines

There Is A Field: Reimagining Biodiversity In Aotearoa

We are in a moment of existential peril, with interconnected climate and biodiversity crises converging on a global scale to drive most life on Earth to the brink of extinction. However, our current worldview and political paradigm renders us incapable of responding adequately due to its disconnected and divisive default settings.

These massive challenges can, however, be reframed as a once in a lifetime opportunity to fundamentally change how humanity relates to nature and to each other. Read on The Dig>>

The Dig: Scoop’s Engaged Journalism Platform Launches
The Scoop Ecosystem has grown bigger with the launch of The Dig - a new public interest, in-depth, Engaged Journalism platform. More>>


Unscoped Or Missed Damage: Resolution For Canterbury Owners Of On-Sold Homes

People with over-cap on-sold* properties in Canterbury can now apply for a Government payment so they can get on and repair their homes. More>>


Hamilton-Auckland: First Urban Growth Partnership Signed

New Zealand’s first urban growth partnership between the Government, local councils and mana whenua was signed at a meeting of mayors, chairs and ministers in Hampton Downs today. More>>


Vote On Action Next Week: Secondary Principals Walk From Negotiations

“Unfortunately we consider there is no further value in continuing negotiations at this point. The government has not been able to table an offer that will be acceptable to our members.” More>>

Patrol Car Stolen, Glocks Taken: Manhunt In Gore

The driver rammed the patrol car before fleeing on foot with Police chasing, also on foot. The man has then circled back around, stolen the patrol vehicle, which had the keys left in it, and rammed another Police car... Two Police-issued Glock pistols were stolen. More>>


"Shocking And Dangerous": Accused Mosque Shooter's Prison Letter Posted Online

The man accused of the Christchurch mosque attacks has sent seven letters from prison and had two others withheld, Corrections Minister Kelvin Davis says. Corrections has now blocked the accused gunman from sending or receiving mail... More>>


Standing On List Only: Paula Bennett To Run National’s Election Campaign

The National Party is pleased to announce the appointment of Paula Bennett as our Campaign Chair for the 2020 General Election, President Peter Goodfellow says. More>>

Waiver For State Care Inquiry: Historic Abuse Survivors 'Can Speak Freely'

Abuse in state care survivors can take part in the forthcoming Royal Commission proceedings without being bound by any confidentiality obligations to Crown agencies under their historic claim settlements, Minister of State Services Chris Hipkins said. More>>


Trail Trial: Sexual Violence Court Reduces Lead-Up Times And Trauma

An evaluation of New Zealand’s first sexual violence court has confirmed that the approach taken in the judge-led pilot considerably reduces the time that cases take to reach trial. More>>




InfoPages News Channels