Interest Rate Hike Labour's Fault

ACT New Zealand Leader Rodney Hide today blamed the Labour Government's refusal to cut taxes and reduce compliance costs as the main reasons for yet another hike in interest rates.

"The Government's failure to address the supply-side of our economy by cutting taxes, slashing red tape and making it easier to hire and fire staff, has made doing business in New Zealand an expensive exercise," Mr Hide said.

"These three factors make it tough to supply labour, resources and capital - all of which make for an upbeat economy. Instead, what we have is a constrained economy - resulting in higher prices.

"To halt the inflationary pressures brought on by Labour's economic mismanagement, the Reserve Bank has been forced to increase interest rates - it won't be the last.

"ACT offers a more positive solution to addressing rising prices: lower taxes, less red tape and more relaxed labour laws.

"That would grow our economy, improve everyone's standard of living, and ensure a freer and more prosperous New Zealand," Mr Hide said.

© Scoop Media

Gordon Campbell: On the Sony cyber attack

Given the layers of meta-irony involved, the saga of the Sony cyber attack seemed at the outset more like a snarky European art film than a popcorn entry at the multiplex.

Yet now with (a) President Barack Obama weighing in on the side of artistic freedom and calling for the US to make a ‘proportionate response’quickly followed by (b) North Korea’s entire Internet service going down, and with both these events being followed by (c) Sony deciding to backtrack and release The Interview film that had made it a target for the dastardly North Koreans in the first place, then ay caramba…the whole world will now be watching how this affair pans out. More>>