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 Anne Tolley’s
Callous Folly

Years ago, I remember someone in the Heath Ministry telling me off the record that regulatory oversight in this country largely consisted in ‘waiting for something to turn green or fall off somebody’ before the authorities would swing into action...

Last week’s conflict between Social Development Minister Anne Tolley and District Court judge Carolyn Henwood illustrated quite a few of the flaws in the system. More>>

 

Members’ Bills: Greens' Domestic Violence And Loans Bills Pulled From Ballot

Jan Logie’s Domestic Violence-Victims' Protection Bill introduces workplace protections for victims of domestic violence, including allowing victims to request paid domestic violence leave for up to 10 days... Gareth Hughes’ Bill allows Kiwis with student loans to defer their student loan repayments into a first home savings scheme. More>>

ALSO:

IPCA: Police Did Not 'Deliberately' Use Pepper Spray On 10-Year-Old

"When spraying the man, the officer did not properly consider the necessity of using pepper spray in a confined space, the likelihood that it would affect the other innocent passengers or the fact that he was using a more powerful spray." More>>

ALSO:

Donor Bill Passes: Full Income Compensation For Live Organ Donors

Unanimous cross-party support for the Compensation for Live Organ Donors Bill represents a critical step in reducing the burgeoning waiting list for kidney donations, according to Kidney Health New Zealand chief executive Max Reid. More>>

ALSO:

Earthquake Response: Emergency Legislation Prepared

Three new Bills have been drafted in the wake of the magnitude 7.8 earthquake on November 14 to ensure the government can enable affected communities to respond quickly and efficiently. More>>

ALSO:

Housing MPs: New Building(s) For Parliament

A new building will be erected on Parliament grounds to house Members of Parliament and their staff who currently work in leased accommodation in Bowen House. The plan has cross-Party support, apart from NZ First, said Parliament’s Speaker, Rt Hon David Carter. More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
Parliament
Search Scoop  
 
 
Powered by Vodafone
NZ independent news