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


Key not making sense on NZ Fast Forward

13 March 2008 Media Statement

Key not making sense on NZ Fast Forward

Further comments this morning from Opposition leader John Key explaining why he wants to axe the $700 million government contribution to the NZ Fast Forward innovation fund appear muddled, agriculture minister and Progressive leader Jim Anderton said.

He says John Key has made one straight-out error, and one inexplicable comment about government funding.

"His obvious error is his statement that the only money spent will be interest on the capital investment. He is wrong about that. The entire fund will be used over 10 to 15 years, along with interest earned while the funds are being spent.

"Since his misunderstanding of the way the fund would work was his explanation for promising to axe it, will he still tell the primary sector he is going to abolish the fund?"

Jim Anderton said a fund that, with private sector contributions, over time will grow to as much as two billion dollars is much more secure and offers the sector much more certainty than John Key's vague promise of increased r&d spending.

He said John Key appeared bamboozled by public accounts in his comment reported this morning, that "This is a gimmick to pick up $700 million on the Reserve Bank balance sheet, invest it in another little pocket and use that interest to make the number look bigger.".

"What does that statement mean? I defy anyone to explain what John Key is talking about when he says $700m will be picked up on the Reserve Bank balance sheet. It doesn't make any sense.

"This is very worrying because it suggests that this person who wants to be prime minister this year doesn't have even a rudimentary or lay understanding of public finances. We do not live in a social credit paradise. Government funds are not 'picked up on the Reserve Bank balance sheet'.".


© Scoop Media

Parliament Headlines | Politics Headlines | Regional Headlines

Back Again: Government Approves TPP11 Mandate

The Government has approved a negotiating mandate for Trans-Pacific Partnership 11 (TPP11), which will ensure New Zealand businesses remain competitive in overseas markets.

Trade Minister Todd McClay says New Zealand will be pushing for the minimal number of changes possible to the original TPP agreement, something that the remaining TPP11 countries have agreed on. More>>




Gordon Campbell: On Why Labour Isn’t Responsible For Barnaby Joyce

As a desperate Turnbull government tries to treat the Barnaby Joyce affair as a Pauline Hanson fever dream – blame it on the foreigners! We’re the victims of the dastardly New Zealand Labour Party! – our own government has chosen to further that narrative, and make itself an accomplice. More>>


Rail: Greens Back Tauranga – Hamilton – Auckland Service

The Green Party today announced that it will trial a passenger rail service between Auckland, Hamilton and Tauranga starting in 2019, when it is in government. More>>


Housing: Voluntary Rental Warrant Of Fitness For Wellington

Wellington City Council is partnering with the University of Otago, Wellington, to launch a voluntary Rental Warrant of Fitness for minimum housing standards in Wellington, Mayor Justin Lester has announced. More>>


Treaty: Agreement In Principle Signed With Moriori

“The Crown acknowledges Moriori was left virtually landless from 1870, hindering its cultural, social and economic development. The Crown also acknowledges its contribution to the myths that the people of Moriori were racially inferior and became extinct." More>>


Susan Devoy: Call For Inquiry Into State Abuse Reaches UN

Race Relations Commissioner Dame Susan Devoy is in Geneva and has asked a United Nations committee to urge the New Zealand government to initiate an inquiry into the physical and sexual abuse of children and disabled people held in state institutions. More>>


(Not National): Cross-Party Agreement On Pike River Re-Entry

The commitment was signed this afternoon by the leaders of Labour, United Future, The Maori Party, and the Green Party and, together with the earlier commitment by New Zealand First, means that there is now a Parliamentary majority behind the families’ fight for truth and justice. More>>






Featured InfoPages

Opening the Election
  • PublicAddress
  • Pundit
  • Kiwiblog