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 Bank Scandals (And Air Crashes)

Last month, the Australian Securities and Investment Commission (ASIC) filed proceedings against Westpac over activities that have some distinct echoes of the Libor scandal. More>>

Budget: Health Funding Must Keep Up With Need

NZNO: “The nursing team has been doing more with less for years. It’s getting to the point that we’re really worried about our colleagues, our patients, our jobs and the level of health care available for people in our country." More>>

ALSO:

Emissions Inventory: Time For The Government To Do The Right Thing

It’s time for the National Government to step up and do the right thing to reduce climate pollution as data shows New Zealand’s greenhouse gas emissions are higher than ever, the Green Party said today. More>>

ALSO:

Budget 2016: More Partnership Schools To Open

Seven new schools will join the eight Partnership Schools already open, along with further new schools opening in 2017. “The growth of this policy is a reflection of the high level of interest from educators and community leaders,” Mr Seymour says. More>>

ALSO:

No Correspondence With English: Did Brownlee Make Up Sale Of Navy Ships ‘On The Hoof?’

Having revealed that several Royal New Zealand Navy vessels have not left port in years, New Zealand First is now asking the Minister of Defence to prove he did not come up with the idea of selling HMNZS Taupo and Pukaki until the media asked him. More>>

Housing Plans: Labour- Abolish Auckland Urban Boundary
The Government should rule out any possibility of an urban growth boundary in Auckland Council’s Unitary Plan if it is serious about fixing the housing crisis. More>>
Greens - State House Solution
The Homes Not Cars policy allows Housing New Zealand to retain its dividend and, in addition, would refund its tax, to spend on the emergency building of around 450 new state houses. More>>

ALSO:

Houses And Taxes: Post-Cabinet, Pre-Budget Press Conference

The Prime Minister said that the pre-budget announcements showed that his Government is “investing in a growing economy”. He re-affirmed the National Government’s commitment to lowering personal tax rates but that any such change must fit with the fiscal reality of the time. More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
 
Parliament
Search Scoop  
 
 
Powered by Vodafone
NZ independent news