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


The tills are ringing - but for how long?

Don Brash National Finance Spokesperson

27 December 2002

The tills are ringing - but for how long?

The shop tills may be ringing loudly, but there's no room for complacency about the country's future growth prospects, says National's Finance spokesman Don Brash.

"The last couple of years have been very good for the economy, with the Government enjoying the benefit of high commodity prices, good growing weather down on the farm, low interest rates and, until recently, a weak exchange rate.

"But many in the business community, and even the Finance Minister himself, have admitted this won't last.

"As we head into 2003, the OECD is projecting a sharp slow-down for New Zealand over the next two years, and the Reserve Bank has suggested that growth would slow from around 4 ¼ per cent this year, to around 2 ½ per cent in each of the next two years.

"The Treasury's own estimates also suggest a sharp slow-down next year.

"This Government isn't helping - and it isn't listening. It's lined up a raft of legislation which will undoubtedly hurt growth and push up business costs, despite an outcry from the business sector. In fact, a Business New Zealand study earlier this week estimates that new Government policies will burden medium-sized businesses with an extra $44,000 in costs next year.

"Changes to the Holidays Act, the Local Government Bill and Health and Safety in Employment legislation, along with hefty compliance costs and envy taxes are all major roadblocks to New Zealand moving back to the top half of the OECD.

"In short, the Government is squandering the good opportunities handed it on a platter and is now intent on loading extra costs onto the business sector.

"National has a challenge for Dr Cullen. We want more than 'talk' on economic growth in the New Year; we want action on supporting business and encouraging innovation because only then will New Zealand have any chance of achieving higher sustainable growth," says Dr Brash.


© Scoop Media

Parliament Headlines | Politics Headlines | Regional Headlines


Scoop Images:
Dame Patsy Reddy Sworn In As Governor-General

This morning Dame Patsy Reddy was sworn in as the New Zealand Realm’s 21st Governor-General. The ceremony began with a pōwhiri to welcome Dame Patsy and her husband Sir David Gascoigne to Parliament. More>>


Ruataniwha: DOC, Hawke's Bay Council Developer Take Supreme Court Appeal

The Department of Conservation and Hawke's Bay Regional Investment Company (HBRIC) are appealing to the Supreme Court over a conservation land swap which the Court of Appeal halted. More>>


With NZ's Marama Davidson: Women’s Flotilla Leaves Sicily – Heading For Gaza

Women representing 13 countries spanning five continents began their journey yesterday on Zaytouna-Oliva to the shores of Gaza, which has been under blockade since 2007. On board are a Nobel Peace Laureate, three parliamentarians, a decorated US diplomat, journalists, an Olympic athlete, and a physician. A list of the women with their background can be found here. More>>

Gordon Campbell: On The Key Style Of Crisis Management

At Monday’s post Cabinet press conference Key was in his finest wide- eyed “Problem? What problem?” mode. No, there wasn’t really a problem that top MPI officials had been at odds with each other over the meaning of the fisheries policy and how that policy should be pursued... More>>


Mt Roskill: Greens Will Not Stand In Likely Post-Goff By-Election

“The Green Party’s priority is changing the Government in 2017, and as part of that we’ve decided that we won’t stand a candidate in the probable Mt Roskill by-election... This decision shows the Memorandum of Understanding between Labour and the Green Party is working." More>>


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

Get More From Scoop



Search Scoop  
Powered by Vodafone
NZ independent news