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


Massive slump in export income

Dr Lockwood Smith National Party Trade Spokesman

27 March 2003

Massive slump in export income

The slump in New Zealand's export income shows no sign of letting up - on a downward spiral for the past 11 months, according to the National Party Trade spokesman Lockwood Smith.

"Our export income for each of the past 11 months has been less that for the same month the previous year, according to the latest provisional figures.

"The biggest decline of all is for the last month, which is down almost 11% compared with February last year.

"That means our export earnings for the year are down more than $2 billion compared with the previous year," says Dr Smith.

"That's a huge slump in anyone's language and will start to feed through into the wider economy very soon. "In fact, in its recent forecasts the Reserve Bank is projecting our growth to decline markedly from now on.

"Recent OECD analysis shows there is nothing in the Labour Government's policy mix that's going to help New Zealand deal with this significant projected decline," says Dr Smith.

"Shuffling the deck chairs and manicuring around the edges with handouts to businesses along with rhetoric about innovation won't do anything to overcome the increasing deadweight of excessive taxation and regulation.

"We're now copping the trade backlash from a Government commandeering an excessive proportion of the economy and squeezing businesses large and small," Dr Smith says.


© Scoop Media

Parliament Headlines | Politics Headlines | Regional Headlines

Supreme Court: Worksafe Decision On Whittall Pike River Prosecution Unlawful

The question in issue on the appeal was whether WorkSafe New Zealand acted to give effect to an unlawful agreement of this nature when it offered no evidence on charges against Peter William Whittall for breaches of the Health and Safety in Employment Act 1992...

The Supreme Court... has found that the decision to offer no evidence was made under an unlawful agreement to stifle prosecution. It has granted a declaration to that effect. More>>


Cullen To Chair: Tax Working Group Terms Of Reference Announced

Finance Minister Grant Robertson and Revenue Minister Stuart Nash today announced the Terms of Reference for the Tax Working Group and that the Group will be chaired by Sir Michael Cullen. More>>


Gordon Campbell: On The New Pike River Agency (And The Air Strike Wing)

Much of the sympathy the public still feels for the families of the Pike River miners has been sustained by the sense that the previous government – let alone the mining company and the processes of receivership and litigation – has never dealt honestly, or fairly, with them. More>>


Not Going Swimmingly: Contractor Cut, New Dates For Christchurch Sports Centre

“As an incoming Minister, I have been conducting a thorough review of progress on the Anchor projects and to learn of a $75 million budget blowout on this project was very disappointing..." More>>


Tertiary: Allowances, Loan Living Costs To Get Boost

“From 1 January, student allowance base rates and the maximum amount students can borrow for living costs will rise by a net $50 a week,” says Education Minister Chris Hipkins... further adjusted from 1 April 2018 in line with any increase in the CPI. More>>


Foreign Affairs: Patrick Gower Interviews Jacinda Ardern

Prime Minister Jacinda Ardern says discussions have already begun on how to bring climate change refugees into New Zealand under a Pacific seasonal employment plan... More>>


Gordon Campbell: On The Centre Right’s Love Of ‘Nanny State’

You’d almost think it was 2005 again. That was a time when the rugged individualists of the centre-right were being beset by government regulations on the nature of light-bulbs, the size of shower heads, the junk food available at school tuck shops and other such essentials... More>>




Featured InfoPages

Opening the Election