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


Thank goodness Brash isn't governor

11 March 2004

Hon Matt Robson MP, Progressive Deputy Leader

Thank goodness Brash isn't governor

National and ACT's ideological opposition to giving rational consideration to foreign currency intervention is a good reminder of why it is so good that Don Brash is no longer in control of monetary policy, Progressive MP Matt Robson says.

"One of the first things the coalition government did after being elected four years ago was to broaden the definition of 'price stability' in the Policy Targets Agreement to require the Reserve Bank to take into account New Zealand's economic and social development interests when making decisions on monetary settings," Matt Robson said.

"And now we are seeing rational and intelligent leadership at the central bank itself, with its call on Parliament to empower the Reserve Bank with an option of intervening in currency markets if and when it deems that to be in the national development interest," the Progressive MP said.

"The minority government has over the past four years found strong support in Parliament on sensible proposals to look after New Zealand's interests - but not from National or ACT.

"National and ACT - the parties that last week joined forces to insult Brunswick Corporation after its multimillion dollar investments in New Zealand-based high technology companies - have today again proved themselves to have no interest in the concerns of either New Zealand-based exporters or of the broader national interest," Matt Robson said.

Reserve Bank Governor Alan Bollard today asked Parliament to consider giving the central bank more powers to sensibly intervene in currency markets as deemed appropriate by the central bank.

Matt Robson said he hopes Parliament will agree to bring New Zealand central bank behaviour closer into line with the way every other successful Asian central bank already behaves. Dr Bollard, who aims to keep inflation within a range of 1% and 3%, today
also left short-term interest rates unchanged.

"Had Don Brash been governor pursuing National's inflation target of zero to 2%, interest rates in this country would currently be up to one percentage point higher than they are - that is 6.25%, not the more rational rate of 5.25% that they are now," Matt Robson said.


© Scoop Media

Parliament Headlines | Politics Headlines | Regional Headlines


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>>


Corrections Corrected: Supreme Court Rules On Release Dates

Corrections has always followed the lawful rulings of the Court in its calculation of sentence release dates. On four previous occasions, the Court of Appeal had upheld Corrections’ practices in calculating pre-sentence detention. 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