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


Economy reflected in current account deficit

Thu, 23 Sep 2004

Booming economy reflected in current account deficit

Balance of payment figure widens current account - reflects economic growth.


While today's balance of payment figure shows a widening current account deficit, Finance Minister Michael Cullen said this reflected growth in the economy.

The balance of payments figures released today show a deficit of 4.6 percent of GDP.

"A close look at the figures shows profits for foreign owned companies here have increased on the back of a booming economy and I am pleased to note these profits have been reinvested here to help the economy keep growing," Dr Cullen said.

"The New Zealand Superannuation Fund is helping to reduce the deficit. Over time the Government's commitment to improving savings levels will assist to balance out the effect of foreign profits earned here," he said.


© Scoop Media

Parliament Headlines | Politics Headlines | Regional Headlines


Wellington: Predator Free Capital Plan

Wellington City Council (WCC), the Greater Wellington Regional Council (GWRC) and NEXT Foundation, today announced a joint collaboration to make Wellington the first Predator Free capital city in the world. More>>


Gordon Campbell: On Judith Collins’ Efforts At Self Correction

Thousands of prisoners currently in prison may be entitled to an earlier release than expected – and compensation – because Corrections has incorrectly calculated their term of imprisonment. Unless of course, the government buries its mistakes by changing the law and retro-actively getting itself off the hook… More>>


More Justice & Corrections

Sector Opposes Bill: Local Government Bill Timeframe Extended

The Minister of Local Government Peseta Sam Lotu-Iiga has asked the Select Committee to extend the report back date for the Local Government Act 2002 Amendment Bill (No 2). More>>


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>>

Get More From Scoop



Search Scoop  
Powered by Vodafone
NZ independent news