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


Continuing fallout from free trade failure

13 July 2004

Continuing fallout from free trade failure

National Party Foreign Affairs and Trade spokesman Lockwood Smith is sure Electrolux won't be the only business opting to take advantage of better trading conditions across the Tasman.

Electrolux is moving its Christchurch plant to Adelaide, with the loss of 159 jobs and $10 million in lost salaries and spending in the local economy.

"Many Australian-based businesses are now counting on better access to the lucrative US market after getting a foot in the door with the recent free trade agreement," Dr Smith says.

"As well as offering lower corporate tax rates and the absence of a millstone like the RMA around the neck of business, Australia offers huge opportunities of trade with the United States, and right now that is beginning to hurt New Zealand.

"A Treasury report last year forecast a negative effect on the economic welfare of whichever country missed out on an FTA with the US, and we now starting to see that bite.

"The current policies in New Zealand send a message to investors that if they want to expand into North America then they have to go to Australia.

"A free trade agreement with the US was Labour's single biggest foreign policy objective, and though many have criticised the Australian deal, the most recent estimates are that it will be worth more than $6 billion a year to Australia.

"We are not even in the queue for an FTA with the US. The longer that continues the more Kiwi businesses will be forced to look across the Tasman," Dr Smith says.


© 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>>


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