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


NZ First Will Repeal Reserve Bank Act

New Zealand First Will Repeal Reserve Bank Act And Contract With RB Governor

New Zealand First will amend the Reserve Bank Act and make export, growth, and employment objectives part of the policy targets agreement between the new government and the Governor of the Reserve Bank after the next election.

This follows the announcement today that interest rates will again rise to 5.25%.

"The Reserve bank has once again been premature in its decisions. Once again we see the world's most trigger happy interest rates regime in the world acting on the slightest notion of inflation. The vast majority of nations in the Western world have not moved their interest rates up since September 11. We have the distinction of moving them up twice in a month," said Leader Winston Peters.

"This is an expensive over-reaction to begin with. Growth rates have constantly fallen significantly below commentators' expectations over the last 18 months. This decision, as did the one last month will do nothing to assist economic growth and the creation of jobs.

"It will instead place an even higher burden on the shoulders of the productive sector and a cost onto every mortgage," concluded Mr Peters.


© Scoop Media

Parliament Headlines | Politics Headlines | Regional Headlines


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>>


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>>


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>>


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>>


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>>


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



Search Scoop  
Powered by Vodafone
NZ independent news