Parliament

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

Gordon Campbell: On The Ch-Ch-Changes At IRD

job cuts aren’t happening at the IRD, exactly. Instead, there’s apparently a ‘transformation’ in store, and jobs won’t be axed ; no, they will be ‘transformed’ before our eyes into… non-jobs, if you happen to be among the unlucky legion of 1,900 who are being lined up for transformation, which seems to work rather like a secular version of the Rapture.

Except that at IRD, not even your shoes will be left behind. More>>

 

Christchurch Mental Health: Hospital Too 'Awful' For Reviewers To Visit

Jonathan Coleman has to stop the stalling over a new building for mental health services in Christchurch to replace the quake damaged Princess Margaret Hospital, says Labour’s Health spokesperson David Clark... More>>

ALSO:

Greens Call For Govt Action: Children Sick Because Of NZ Housing

The Royal Australasian College of Physicians president-elect said today that children with preventable respiratory illnesses are being re-admitted to hospital because they're being sent back to cold, damp homes. More>>

ALSO:

Less Tax Cut, More Spending: Labour Launches Fiscal Plan

“Labour will invest $8 billion more in health, $4 billion more in education and $5 billion more for Kiwi families through Working for Families, Best Start and the Winter Energy Payment than the Budget 2017 projections for the forecast period.” More>>

ALSO:

Gordon Campbell: On The Greens’ Room For Political Pragmatism

The Greens here are currently being criticized by the commentariat for not making the same kind of pragmatic choices that sunk the Democrats in Australia. More>>

Gordon Campbell: On Being Humane About Welfare, Child Support, And Tax

It made for an unusual Venn diagram, but Greens co-leader Metiria Turei and Finance Minister Steven Joyce were briefly sharing some common elements this week in the set that says – hey, don’t use the powers of the state in ways guaranteed to make the system you’re trying to defend worse, not better. More>>

ALSO:

 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

Featured InfoPages

Opening the Election