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

 


Deficit up, National’s credibility down


David
PARKER
Spokesperson for Finance

7 November 2012 MEDIA STATEMENT
Deficit up, National’s credibility down

National’s economic credibility has again been dented with news that the $2.1 billion Government deficit (obegal) for the latest quarter is $450 million worse – 27% - than expected, says Labour’s Finance spokesperson David Parker.

“National’s economy is stagnating. Yesterday’s news was that full-time employment is down. Manufacturing is struggling. Exports are down. That is why the tax take is down.

“Less tax that is a sure sign that businesses aren’t growing and working Kiwis aren’t earning.

“National’s deficit is $450 million worse than expected - they were off by 27 per cent. Their economic credibility is further damaged.

“This should come as no surprise given that National’s main economic initiative for this three years was to sell our state assets, and even that is off the rails.
“National is seriously mismanaging the economy. We see the evidence every day. Businesses are being sold overseas or shut down, jobs are being outsourced or cut, and a thousand Kiwis are leaving for Australia every week.

“The only thing that’s growing in this country is the Christchurch rebuild, on the back of tragedy and insurance inflows that even this Government can’t claim credit for.

“John Key promoted himself as the man to run the economy well. The evidence is clear today that his ideas aren’t working.

“Kiwis are realising what a disappointment this Government is.”

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

 

Departure Speech: Governor-General’s State Farewell Luncheon

"...Unfortunately I was unable to get to the Antarctic, the Chatham Islands and the Kermadecs. A dicky heart thwarted our travel to the Antarctic; and even though I volunteered to parachute into the Kermadecs to join the Young Blake expedition, time, commitments and officials frustrated my plans to visit the Kermadecs and Chathams." More>>

ALSO:

New Research: Most Homeless People Working Or Studying

“The cost of housing has been rising without corresponding increases in income, whilst the number of state houses per capita has been in decline. Many low-income people are missing out on housing, whether we recognise them as ‘homeless’ or not. More>>

ALSO:

Post-Traynor: New Offender Info Sharing Plan

“This Bill delivers on that step-change by moving away from name-based records held by individual agencies to a shared, anchor identity based on unalterable information, such as fingerprints and facial recognition. It also gives agencies access to the drivers’ licence photo database and birth, death and marriages information." More>>

  • NZ Law Foundation - New $2M fund for research on information challenges
  • Littoral: New Ship To Deliver Enhanced Naval Capability

    Defence Minister Gerry Brownlee says the Government has approved a Ministry of Defence and New Zealand Defence Force recommendation to request tenders for a new naval ship to support littoral operations. More>>

    July:

    After King's Labour Snub: Māori Party And Kiingitanga To Work Together

    Māori Party Co-leaders Te Ururoa Flavell and Marama Fox met with Kiingitanga representatives in Wellington yesterday to discuss working together on key issues for the betterment of Māori. More>>

    ALSO:

    Waitangi Claim On Rehabilitation: The 'Justus' System For Māori Not Good Enough

    Closing statements at the Waitangi Tribunal case against Corrections called for immediate steps and a comprehensive review to address the high rate of Māori reoffending. More>>

    ALSO:

    Advice: PM Sets Rules For Ministers' Treatment Of Public Servants

    Prime Minister John Key has laid down the law about the way ministers and public servants should interact, saying ministers may not always like the advice they receive, but they must listen to it carefully, respectfully and professionally. More>>

    Gordon Campbell: On The Funding Changes In Special Needs Education, And Uber

    The plan to strip out the educational support for older “special needs” children in order to meet the existing shortfall in funding for special needs in early childhood education is so miserly and relentlessly stupid as to defy belief… More>>

    SPECIAL EDUCATION (& More):

    Online Learning Plans:

    Get More From Scoop

     

    LATEST HEADLINES

     
     
     
     
     
     
     
     
     
    Parliament
    Search Scoop  
     
     
    Powered by Vodafone
    NZ independent news