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


What Happened To 4% Dr Cullen?

28 June 2002

"Today's GDP result and growing loss of confidence in the economy is further evidence why the Government has opted for a snap election," says National's Finance spokesman David Carter.

"Unfortunately, GDP of 3.2 per cent for the year to March represents the peak of the current cycle, with most commentators expecting growth to turn down from here."

Mr Carter says this worsening economic outlook has been reinforced with the release of two business confidence surveys in the past 24-hours showing confidence levels down sharply. He says it is little wonder Helen Clark called a snap election, as a poll later in the year will have coincided with more bad news.

"This tells us that Labour's luck is running out and Michael Cullen has no credible plan to achieve the growth rates we need to lift New Zealand's economic fortunes. It will soon be obvious that this Government has done nothing to lift the long-term, sustainable performance of our economy.

"Even the Government's own forecasts by Treasury confirm this gloomy outlook. They predict the New Zealand economy stuck with 2 per cent growth rates for the long term."

Mr Carter says Dr Cullen will try muddying the waters and blame this stunning under performance on anything and everything from the Reserve Bank, to the dollar and interest rates.

"However, his smug, diversionary tactics cannot hide the fact that for New Zealand's long-term economic health real action needs to be taken on things like the regulatory environment, compliance costs, the tax burden and the skill levels coming out of our schools and universities.

"Labour refuses to address these issues, but National has outlined a serious and substantial economic plan which will tackle these issues.

"Only when these things are properly addressed will New Zealand be able to enjoy higher sustainable growth rates and pay for the health and education system we all want," Mr Carter added.


© 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