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


Time to face facts over $2.8 billion trade deficit

25 July, 2003

Time to face facts over $2.8 billion trade deficit Attn: Business / Financial Editors

The announcement today of New Zealand's second largest June year trade deficit in our history should be of major concern to the Government and the whole country, said Green Co-Leader Rod Donald.

Statistics New Zealand have reported that the June month trade deficit was $230 million, the worst since 1960 when statistics were first collected. This contributed to the June year trade deficit of $2,883 million, the second largest since records began.

"After two years in the black New Zealand's trade balance is back to being seriously in the red again," said Mr Donald.

"It's time we faced facts: our dollar is over valued, we are importing too many things we should be making ourselves, clogging up our roads with too many imported second hand cars and burning through too much imported fuel to run them."

The import stats reveal that car imports were $3,294 million for the year to June, 48 per cent more than four years ago, and crude oil imports were $1,963 million, 120 per cent more than four years ago.

"The Government needs to invest more in public transport because if it doesn't we will fill up our roads with even more cars belching out even more pollution," said Mr Donald.

"Import of consumption goods topped $8,000 million for the first time ever, 31 per cent more than four years ago.

"Many of these products used to be made in New Zealand and could be made here again if only the Government adopted a comprehensive import substitution strategy and promoted loyalty to New Zealand manufacturers and workers.

"New Zealand's trade deficit will only get worse if companies such as Macpac are forced to close down their New Zealand manufacturing operations and become importers rather than exporters."


© Scoop Media

Parliament Headlines | Politics Headlines | Regional Headlines


Also, Loan Interest: Productivity Commission On Tertiary Education

Key recommendations include better quality control; making it easier for students to transfer between courses; abolishing University Entrance; enabling tertiary institutions to own and control their assets; making it easier for new providers to enter the system; and facilitating more and faster innovation by tertiary education providers... More>>


Higher Payments: Wellington Regional Council Becomes A Living Wage Employer

Councillor Sue Kedgley said she was delighted that the Wellington Regional Council unanimously adopted her motion to become a Living Wage employer, making it the first regional council in New Zealand to do so. More>>


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>>


Get More From Scoop



Search Scoop  
Powered by Vodafone
NZ independent news