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.


ENDS

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

 

Mt Roskill: Greens Will Not Stand In Likely Post-Goff By-Election

“The Green Party’s priority is changing the Government in 2017, and as part of that we’ve decided that we won’t stand a candidate in the probable Mt Roskill by-election... This decision shows the Memorandum of Understanding between Labour and the Green Party is working." More>>

ALSO:

Wellington: Predator Free Capital Plan

Wellington City Council (WCC), the Greater Wellington Regional Council (GWRC) and NEXT Foundation, today announced a joint collaboration to make Wellington the first Predator Free capital city in the world. More>>

ALSO:

Gordon Campbell: On Judith Collins’ Efforts At Self Correction

Thousands of prisoners currently in prison may be entitled to an earlier release than expected – and compensation – because Corrections has incorrectly calculated their term of imprisonment. Unless of course, the government buries its mistakes by changing the law and retro-actively getting itself off the hook… More>>

ALSO:

More Justice & Corrections

Sector Opposes Bill: Local Government Bill Timeframe Extended

The Minister of Local Government Peseta Sam Lotu-Iiga has asked the Select Committee to extend the report back date for the Local Government Act 2002 Amendment Bill (No 2). More>>

ALSO:

Breed Laws Don’t Work: Vets On New National Dog Control Plan

It is pleasing therefore to see Louise Upston Associate Minister for Local Government calling for a comprehensive solution... However, relying on breed specific laws to manage dog aggression will not work. More>>

ALSO:

Not Waiting On Select Committee: Green Party Releases Medically-Assisted Dying Policy

“Adults with a terminal illness should have the right to choose a medically assisted death,” Green Party health spokesperson Kevin Hague said. “The Green Party does not support extending assisted dying to people who aren't terminally ill because we can’t be confident that this won't further marginalise the lives of people with disabilities." More>>

ALSO:

General Election Review: Changes To Electoral Act Introduced

More effective systems in polling places and earlier counting of advanced votes are on their way through proposed changes to our electoral laws, Justice Minister Amy Adams says. More>>

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
 
Parliament
Search Scoop  
 
 
Powered by Vodafone
NZ independent news