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

 


New Zealand economy going nowhere

David Cunliffe
Economic Development Spokesperson

12 April 2012

New Zealand economy going nowhere

Latest data shows New Zealand’s economy is still struggling to claw its way out of an extended rut, Labour's Economic Development spokesperson David Cunliffe says.

“Statistics NZ today revealed total electronic card transactions are down 0.2 per cent and tourism guest nights are down 2 per cent, with international arrivals down in both Islands, reflecting four straight years of decline for tourism receipts.

“On top of that the NZ Institute of Economic Research published its highly regarded Quarterly Survey of Business Opinion (QSBO) this week. That showed a ‘crab-like recovery’ of an economy ‘going sideways’,” David Cunliffe said.

"NZIER's findings are disturbing. Trading activity of firms is flat - at 0 per cent - and there has been no acceleration in the recovery over the last nine months.

"There is a worrying absence of business investment. Investment intentions are down in line with capacity pressures. This is hardly surprising with an exchange rate that is consistently overvalued and the lack of a credible government economic growth plan.

"At the same time there are predictable but mounting labour and housing shortages in Canterbury, which alongside the standoff between EQC and insurers, is hugely debilitating for the earthquake rebuild.

"Business and Economic Research Ltd’s (Berl) latest forecasts show the economy is ‘in a holding pattern at best, or at worst a double dip recession’. They warn of a ‘two speed economy’ with declining export performance, falling commodity prices and tourism receipts and further delays in Christchurch; offset against a rent-driven housing surge in Auckland.

"Isn't this precisely the kind of rollercoaster the government said it would get us off?

"New Zealand needs a credible plan for growth and jobs that builds on our unique natural resource base and talented, innovative people," David Cunliffe said.

"Three and a half years into this sorry Government and Kiwis are still waiting for one.”

ENDS

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Gordon Campbell:
On The National Leadership “Contest”

Key’s endorsement of English has turned this “contest” into a race for second place.

This succession was well planned. Lets not forget that English was told by Key in September of his intention to resign, and English was the only member of Cabinet entrusted with that information before it was sprung on everyone else on Monday morning. More>>

Latest: Judith Collins and Jonathan Coleman have withdrawn from the leadership race, leaving Bill English the only candidate to replace John Key as Prime Minister.

 

Education, Marketing, Taxes: Health Groups Call For Actions For Sugary Drinks

The New Zealand Dental Association is launching a new consensus statement on Sugary Drinks endorsed by key health organisations. The actions seek to reduce harm caused by sugary drinks consumption. More>>

ALSO:

More Departures? David Shearer Proposed For UN Peacekeeping Role

Mt Albert MP David Shearer is being proposed for a demanding and exciting role heading the United Nations peacekeeping force in South Sudan, says Labour Leader Andrew Little. More>>

ALSO:

Security Agencies' Reports: GCSB Wants To Give ISPs More Power To Block Threats

The Government Communications Security Bureau wants to give internet service providers more information and power to block cyber threats which are increasing, its director told the intelligence and security select committee yesterday.. More>>

ALSO:

Education: Charter Schools Misleading Pass Rates

Labour: NCEA results for charter schools have been massively overstated... In one case a school reported a 93.3 per cent pass rate when the facts show only 6.7 per cent of leavers achieved NCEA level two. More>>

ALSO:

Rebstock Report Resolution: SSC Apologises To Derek Leask And Nigel Fyfe

Following a complaint by Mr Leask, the Ombudsman found that the State Services Commission acted unreasonably in relation to Mr Leask and identified numerous deficiencies in the investigation process and in the publication of the final report and in the criticisms it contained of Mr Leask... More>>

ALSO:

International Rankings: Student Results 'Show More Resourcing Needed'

NZEI: New Zealand had only held relatively steady in international rankings in some areas because the average achievement for several other OECD countries had lowered the OECD average -- not because our student achievement has improved. More>>

ALSO:

Earlier:

Salvation Army Report: Beyond The Prison Gate Report

A new Salvation Army report says changes must be made to how prisoners re-enter society for New Zealanders to feel safe and secure in their homes and communities. More>>

ALSO:

Surprise Exit: Gordon Campbell On The Key Resignation

The resignation of John Key is one thing. The way that Key and his deputy Bill English have screwed the scrum on the leadership succession vote (due on December 12) is something else again. It remains to be seen whether the party caucus – ie, the ambitious likes of Steven Joyce, Judith Collins, Paula Bennett, and Amy Adams – will simply roll over... More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
Parliament
Search Scoop  
 
 
Powered by Vodafone
NZ independent news