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

Gordon Campbell: On The Politics Of Scaring Voters Back Into Line

Fear has always been a useful mobilising tool in politics… yet in 2017, bogeymen of all shapes and sizes seem to have fallen on hard times. For years, the National party had painted itself as being the only reliable defensive bastion against the terrifying prospect of a centre-left government…

In fact, the polls suggest that the public seems to quite like the new government, its Prime Minister, and its proposed plan of action. Somehow, even though a Labour/Greens/NZ First government is in power, the sun is still rising and setting, on time. More>>


Gordon Campbell: On Drinking Water As A Failure Of Political Leadership

It is almost possible to feel sorry for the Health Ministry in their terrible, no good, very bad week... More>>


Gordon Campbell: On Saying ‘Work For The Dole,’ Nicely

As New Zealand First learned the hard way from its two previous periods in government, small parties in MMP coalitions get blamed for the unpopular stuff done by their senior partner in power, but no one remembers the good stuff the junior player brought to the table... More>>


Seismic Blasting: Greenpeace Launches Legal Challenge Against Amazon Warrior

A legal challenge against the world’s largest seismic oil exploration ship was launched at a public rally on Parliament Lawn. More>>


Tertiary: 80,000 People Eligible For Fees Free

The Government has today made good on its 100-day promise of delivering the first year of fees-free post school training and education and industry training from 1 January next year, says Education Minister Chris Hipkins. More>>


PM's Presser: Rebuilding Cathedrals, Felling Trees

Prime Minister Jacinda Ardern attended the press conference today with Minister for Greater Christchurch Regeneration Dr Megan Woods to announce urgent legislation this week for the rebuilding of the Christ Church Cathedral. More>>





Featured InfoPages