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Report confirms poor economic position

Don Brash - National Party Leader

13 January 2005

Report confirms poor economic position

Despite favourable economic conditions, New Zealand's economic position is not improving relative to other countries, says National Party Leader Don Brash.

He is commenting on the release of an OECD report on GDP comparisons based on purchasing power parities, released earlier this week.

The report groups New Zealand with Hungary, Cyprus, Slovenia and Spain in the low-middle income bracket. Australia is ranked in the high-middle income bracket, along with Canada, the United Kingdom, Finland and France.

Dr Brash says he hopes being grouped with former communist countries like Hungary and Slovenia will puncture the complacency of the current Government.

"Helen Clark and Michael Cullen have sat on their laurels for long enough, hoping the favourable economic conditions would get them through. It hasn't worked.

"The reality is that the Government has done absolutely nothing significant to improve living standards since coming into office more than five years ago, and has done plenty of things which damage our prospects.

"Our tax system is stopping people getting ahead, stopping them paying off their debts, stopping them building an ownership stake in society, stopping them building adequate savings for retirement.

"A National Government will work to return New Zealand to the top half of the OECD and bring our income and living standards into line with our cousins in Australia," says Dr Brash.


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