Parliament

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

 

Bleak Christmas ahead, survey warns

Bill English
National Finance Spokesperson
Tuesday 31 October 2000


Bleak Christmas ahead, survey warns

It will be no surprise to families facing a steadily rising cost of living that business confidence continues to stagnate, National Finance spokesperson Bill English said today.

"Every indicator in the National Bank survey is worse, including firms' expectations of their own activity, employment, unemployment, profits, investment and interest rates.

"This shows just how deeply entrenched and fundamental the pessimistic mood is.

"Most worrying is the continued worsening in inflation expectations and the consequent increase in pricing intentions.

"Firms are under real price pressure - so consumers are in for a bleak Christmas. There'll be juggling bills rather than jingling bells for shoppers this year.

"Pressure on prices is making life particularly hard for the Reserve bank which has to balance strong price pressures on the one hand and a weak domestic economy on the other.

"The families who are facing cuts in their standard of living will be looking forward to the promised benefits of export recovery.

"Despite the continued gloom, economists generally have an expectation that economic growth recovered over the September quarter and that the economy will continue to grow, lead by strong exports offset by a weak domestic economy.

"But one thing is for certain: with the current mood, any pick-up in activity will remain well below the economy's potential to grow,.

"Businesses are looking at the reality of what New Zealanders have to spend. They're much more in tune with the pressure on families than the Government which thinks all the problems can be fixed by a one-day PR exercise," Mr English said.

© Scoop Media

 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Gordon Campbell: On The Tax Working Group’s Road Map

Trying to analyse the interim report on the Tax Working Group (TWG) is like trying to review an entire All Blacks game, but at the half- time mark.

With so much still to be finalised, Sir Michael Cullen and his colleagues are going to need all the All Blacks’ fabled finishing skills to get a coherent, fiscally neutral package together by the February 2019 deadline. More>>

 

Meth Testing Report: Housing NZ "To Right Wrong"

Phil Twyford “Housing NZ acknowledges that around 800 tenants suffered by either losing their tenancies, losing their possessions, being suspended from the public housing waiting list, negative effects on their credit ratings or, in the worst cases, being made homeless.” More>>

ALSO:

No Reshuffle: Meka Whaitiri Removed As A Minister

Meka Whaitiri will be removed as a Minister with immediate effect... The decision was made after receiving a report into an incident that occurred on 27 August in Gisborne, involving Meka Whaitiri and one of her staff. More>>

ALSO:

Pay Equity Bill: Making History For Women’s Pay

The Equal Pay Amendment Bill, introduced to the House today, will make it easier for workers to make a pay equity claim , using a more simple and accessible process within New Zealand’s existing bargaining framework. More>>

ALSO:

Suffrage 125: NZ A Trailblazer For Women

“We acknowledge the work of Kate Sheppard, Meri Te Tai Mangakāhia, and all of the suffragists who tirelessly campaigned for the vote… Today we also need to ask each other: how we can continue to make our country a fairer and better place to continue the legacy of the suffragists.” More>>

ALSO:

Asylum: Refugee Quota Increasing To 1500

“The quota increase will take place from July 2020. In the meantime, we will work to increase the number and spread of refugee resettlement and support services. We need to make sure we’re prepared for this change in policy.” More>>

ALSO:

 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

InfoPages News Channels