Auckland Economy Shrinks by More Than $600 Million

Monday 2nd Jul 2001

Media Release -- Economy

The Auckland economy has shrunk by more than $600 million in the past year, ACT MP Rodney Hide revealed today.

"A national zero percent growth rate is disturbing, but Statistics New Zealand figures paint an even more appalling picture for Auckland.

"Effectively, there is $600 million less in Auckland than during the past financial year.

"The construction and manufacturing industry has declined nationwide by more than $1 billion, and that has hit Auckland extremely hard.

"In the regions - where Jim Anderton crows of success from the agricultural sector - actual growth only amounts to $200 million.

"Under Jim Anderton's stewardship as Industry Development Minister, manufacturing has shrunk by over $120 million.

"In comparison, spending on Government services and administration has increased by over $800 million."

For more information visit ACT online at http://www.act.org.nz or contact the ACT Parliamentary Office at act@parliament.govt.nz.

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