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Northland Faces Recession


Northland Faces Recession

Wednesday 31 Jul 2002 Dr Muriel Newman Press Releases -- Economy

The Government must outline a strategy to save Northland from the looming recession, Whangarei-based ACT MP Dr Muriel Newman said today.

"Economists predict we're all going to be worse off in the next twelve months. Business confidence has plummeted for four months.

"It's going to be especially tough in Northland, with the dairy payout cut estimated to wipe $145 million off the economy. It's not just a problem for farmers, it's going to affect every small business-owner and family in our region. Almost seventy percent of our economy relies on agriculture. We face job cuts, less spending and no financial security.

"Labour should reduce taxes and red tape now so that our region can grow. If they fail to do so, without any vision or strategy from the Beehive Northland faces a very dark twelve months ahead," Dr Newman said.

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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