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

 


Major Government Failing Says New Zealand First

23 June 2005

Record Current Account Deficit Highlights Major Government Failing Says New Zealand First

The façade of this government’s so-called economic management is coming apart at the seams for all to see as the mushrooming Current Account Deficit crisis highlights, says Rt Hon Winston Peters

Mr Peters was responding to the reports of New Zealand’s Current Account Deficit reaching record levels, crashing through the $10 Billion mark and 7% of GDP.

“This has reached truly crisis proportions, and it was driven by imports growing faster than expected, higher incomes from foreign investors and lower tourism returns.

“When is this government going to wake up to the fact that hocking off our land and assets to foreigners and a myopic focus on Free Trade Agreements with the low wage economies of large Asian nations, is causing large scale damage to our economy.

“We are simply not paying our way in the world and we are becoming more and more exposed by the day. This is no way to run an economy.

“New Zealand First is the only party in parliament which offers a policy of an export plan to address this dangerous trade imbalance. We are the only party seeking to reverse the trend of selling off our valuable land and assets, and we are the only party which seeks to make this economy work for New Zealanders, not foreign investors.

“When it comes to the economy, New Zealand First is the only party that seeks to amend the Reserve Bank Act to make exporting and real growth as important as other considerations,” said Mr Peters.

ENDS

© 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>>

ALSO:

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>>

ALSO:

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>>

ALSO:

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>>

ALSO:

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>>

ALSO:

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

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
 
Parliament
Search Scoop  
 
 
Powered by Vodafone
NZ independent news