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Another firm closes - more bad news for Govt

John Key MP - National Party Finance Spokesman

24 January 2006

Another firm closes - more bad news for Govt

News that a Rotorua wood products plant is closing with the loss of 112 jobs reinforces that workers are paying with their jobs for the Government's failure to prepare the country for a downturn, says National Finance spokesman John Key.

The news today of the latest job losses follows the announcement that three exporters will close or reduce their workforces by a total of nearly 180 jobs because of the high New Zealand dollar.

"Panahomes workers are paying with their jobs for the Government's failure to adequately prepare our economy for the inevitable downturn,'' says Mr Key.

"The latest job losses won't be the last. Worse is to come as the economy tanks.

"No amount of further hiring in the already-bloated state sector will mop up the torrent of job losses that are to come.

"Dr Cullen should take our advice and cut business taxes, as well as free businesses from red tape."

Mr Key reiterated that the Labour Government had got it wrong in a number of ways since 1999 by putting extra costs on businesses - which hit competitiveness.

"High commodity prices and debt-fuelled domestic demand had masked those bad policies."

ENDS


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