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


Rising dollar has Cullen sweating

David Carter National Finance Spokesperson

5 June 2002

Rising dollar has Cullen sweating

"The ever-increasing dollar has Michael Cullen worried because it will reveal that his Government's policies have done nothing to support business or improve the prospects of higher sustainable growth," says National's Finance spokesman David Carter.

Mr Carter says throughout the Government's term, Dr Cullen has been able to rely on a low exchange rate to provide the country with an economic boost.

"Up until now, because of the low exchange rate, the Government has got away with having no serious plan for long term growth."

However, Mr Carter says there is far more to having a competitive economy than just the exchange rate.

"Things like the regulatory environment, compliance costs, the tax burden and the quality of Government investment and spending all matter.

"Yet as our exchange rate rises, all New Zealand businesses will be left with is more regulation, higher compliance costs, higher taxes and a Government hell-bent on ratifying Kyoto without knowing the costs to business.

"Exporters can be justifiably asking Dr Cullen what he's done for competitiveness and the only realistic answer he can give is 'nothing'."

Mr Carter says - unlike National, which has a serious and credible economic plan - the Government has no recipe for sustainable growth of 4 per cent to help New Zealand move back into the top half of the OECD.

"It's no wonder that Dr Cullen is getting nervous about the rising dollar. He's worried that his policies will now come under some real scrutiny and this only adds to the all speculation about a snap election."


© Scoop Media

Parliament Headlines | Politics Headlines | Regional Headlines

Gordon Campbell: On The Peters/Ardern Triumph

There are a lot of good reasons to feel joyful about this outcome. It is what so many young voters – the best hope for the country’s future – wanted.

Far more important than the implications for the Economy Gods ( is the dollar up or down? ) last night’s outcome will also mean many, many vulnerable New Zealanders will have a better life over the next three years at least.

Yet the desire for change was in the majority, across the country..>>>More


Labour on its agreement |Peters: Post-Election Announcement Speech | Greenpeace “cautiously hopeful” about new Government | ACT - Madman on the loose | E tū ecstatic | Chamber welcomes the outcome | Greens on their joining Govt | EDS welcomes new govt | Immigrant groups worry | Feds ready to engage new coalition government | Labour Ministers of the Crown announced


Climate: Increasing Greenhouse Emissions Hit NZ

New Zealand is seeing impacts of excess greenhouse gas emissions in our climate and oceans, according to the latest national report from the Ministry for the Environment and Stats NZ about the state of the atmosphere and climate…More>>


Wellington.Scoop: Arrests At Blockade Of "Weapons Expo"

“We encourage people in Wellington to get down to the Westpac Stadium now for a day of awesome peace action. There will be plenty of food, music and activities to keep us sustained through the day.” More>>


Rorschach Restructuring: PSA Taking Inland Revenue To Court Over Psychometrics

The Public Service Association will be seeing Inland Revenue in Employment Court over its intention to psychometrically test employees reapplying for their roles at the department as part of its controversial Business Transformation restructuring plan. More>>


Nuclear Disarmament: Nobel Peace Prize 2017 Awarded To ICAN

Congratulations from iCAN Aotearoa New Zealand to international iCAN, the other iCAN national campaigns and partner organisations, and the countless organisations and individuals who have worked so hard for a nuclear weapons-free world since 1945. More>>


Expenses: Waikato DHB CEO Resigns

An independent inquiry has identified that Dr Murray had spent more than the agreed $25K allocated for relocation costs, and other unauthorized expenses involving potential financial breaches of the chief executive’s obligations. More>>


Wellington.Scoop: Sad About The Trolley Buses?

The Regional Council’s MetLink is today spending money to tell us that it really loves Wellington’s trolley buses, even though they’re all being taken off our roads by the end of this month. More>>


Post-Election: Preliminary Coalition Talks Begin

New Zealand First will hold post-election preliminary discussions in Wellington with the National Party tomorrow morning and the Labour Party tomorrow afternoon. More>>




Featured InfoPages

Opening the Election