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


Labour's Strategy for Growth

8 July 2002

“New Zealand has performed well through the global downturn and is projected to continue growing at around 3 per cent a year over the next four years,” Finance Minister Michael Cullen said today.

“But to return to the top half of the OECD, we need to lift our sustainable growth rate and - because we are Labour - we are determined to do this while also protecting the environment and promoting social equity.

“We have established our credentials as economic and fiscal managers and have successfully asserted a constructive role for the government in the economy. We know there is no single bullet solution and that for change to succeed, it needs to be supported by the majority of the population.

“So we have sought to progress incrementally across a broad front and to work in partnership with other stakeholders, including local government, the tertiary sector, business and the union movement.

“We will continue with this approach in our next term,” Dr Cullen said.

Specific commitments include:

- promoting economic transformation through support for research, science and technology and through the innovation and growth framework

- ensuring that the Policy Targets Agreement negotiated with the next Reserve Bank Governor clearly reflects the government’s intention that the conduct of monetary policy be sufficiently flexible to maintain price stability while also supporting growth

- initiating discussions between business, the unions and relevant government agencies to identify ways to lift productivity

- encouraging the development of employment based but portable superannuation schemes

- reforming the cross border tax regime

- addressing the infrastructural deficit inherited from nine years of National-led government, including through the formation of public-private partnerships

- securing the future of New Zealand Superannuation through contributions to the New Zealand Superannuation Fund

- continuing to reduce business compliance costs and to simplify the tax system, especially for small and medium-sized businesses

- examining the introduction of a dedicated health tax to replace an equivalent amount of income tax

- expanding and fine-tuning the supports provided to business and the regions through Industry New Zealand

- promoting the New Zealand brand abroad, and attracting more productive foreign direct investment to New Zealand.

“The next Labour government will achieve progress in all these areas while also maintaining a strong set of Crown accounts. We will continue to run operating surpluses sufficient to meet our payments to the Super Fund while also meeting our fiscal target of keeping gross debt below 30 percent of GDP on average across the economic cycle.

“No other political party is offering such a balanced, far-sighted and responsible set of policies and objectives,” Dr Cullen said.


© Scoop Media

Parliament Headlines | Politics Headlines | Regional Headlines


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>>

Gordon Campbell: On Our Posturing At The UN

In New York, Key basically took an old May 2 Washington Post article written by Barack Obama, recycled it back to the Americans, and still scored headlines here at home… We’ve had a double serving of this kind of comfort food. More>>


Treaty Settlements: Bills Delayed As NZ First Pulls Support

Ngāruahine, Te Atiawa and Taranaki are reeling today as they learnt that the third and final readings of each Iwi’s Historical Treaty Settlement Bills scheduled for this Friday, have been put in jeopardy by the actions of NZ First. More>>


Gordon Campbell: On The Damage De-Regulation Is Doing To Fisheries And Education, Plus Kate Tempest

Our faith in the benign workings of the market – and of the light-handed regulation that goes with it – has had a body count. Back in 1992, the free market friendly Health Safety and Employment Act gutted the labour inspectorate and turned forestry, mining and other workplace sites into death traps, long before the Pike River disaster. More>>

Get More From Scoop



Search Scoop  
Powered by Vodafone
NZ independent news