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Export Credit Office flops

Katherine Rich MP

National Party Economic Development Spokeswoman

7 September 2006

Export Credit Office flops with only five guarantees

The Export Credit Office has proven to be a flop, with the value of export deals guaranteed this year amounting to just a third of the total cost of running the office, says National's Economic Development spokeswoman, Katherine Rich.

"The export guarantee system, which Labour boasted before coming to power as being a flagship of its economic development policy, has proved totally ineffective.

"It has issued only five export guarantees in the past five years. None were guaranteed in the first three years, three in 2004/05 and only two in 2005/2006.

"Last year the total value of export deals guaranteed by the office was a mere $150,000 - down a whopping $13.95 million on the year before.

"To add salt to taxpayers' wounds, last year the Export Credit Office cost $421,043 to run - nearly three times the value of export deals guaranteed.

"The Minister will play the Pollyanna game and say that the office has issued 'support and pricing', but he's trying to dress up Labour's failure by pretending the office's role has morphed into an advisory one from the initial plan to provide an export guarantee service.

"Once again Labour's business ideas don't connect with business, and its export guarantee policy joins the growing queue of business programme flops, which include:

• Cluster Development Programme established January 2002, canned 2006.
• Major Events Programme established October 2000, canned 2006.
• Brand NZ Programme established December 2002, canned 2006.
• Regional Partnership Programme established July 2000, restructured 2006
• Enterprise Training Scheme established July 2003, restructured 2006
• Enterprise Development Programme established April 2003, restructured 2006.

Ends

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