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

 


Joyce Calls For Foreign Investment But Companies Pulling Out


David
PARKER
Spokesperson for Finance

8 February 2013 MEDIA STATEMENT
Joyce Calls For Foreign Investment But Overseas Companies Pulling Out

Steven Joyce says more foreign direct investment will cure unemployment but foreign companies such as the Summit owners and Norse Skog are pulling out because they can't make a buck, says Labour’s Finance spokesperson David Parker.

“Steven Joyce says foreign direct investment will create jobs but he’s ignoring the facts. Foreign companies aren’t investing; they’re pulling out. National’s economic settings and the high exchange rate mean they can’t make a dollar. That’s the facts.

“The list is long and increasing. Norske Skog. Petrobras. Mainzeal. Rio Tinto, threatening to pull out. Summit’s owners Sumitomo.

“Under National’s economy it’s nigh-impossible for overseas or local companies to make money. New Zealand’s world-leading Hamilton Jet, a company that bests even Rolls Royce, told the Manufacturing Inquiry that a $20 million investment would yield just a two per cent return under an 80c exchange rate with no debt.

“It doesn’t make sense to invest with numbers like that. Today I’m going to meet with workers and employers at Summit Wool Spinners in Oamaru to hear directly from them what’s wrong.

“Steven Joyce can call for foreign investment all he likes but his policies are scaring overseas companies away. Another reason why 33,000 people gave up on the labour force last quarter.

“The only foreign investment market doing well is rural land. That doesn’t create jobs or increase our output but does send profits offshore and puts land beyond the reach of Kiwis.

“The supposed Mr Fixit Steven Joyce has presided over a fall in 30,000 jobs in one year as Minister of Employment, despite promising to create 170,000 in four years. For a man of action he hasn’t even finished announcing his Business Growth Agenda. I have four words for Steven Joyce: ‘Get on with it’.”

“Labour has the ideas and the vision to get the economy moving, manufacturers exporting and Kiwis working.”

ENDS

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Gordon Campbell:
On Andrew Little’s Debut, Mockingjay, And Drunk Texting

John Key’s credibility has taken a hammering this week – at least among the 50% of the electorate who have always had doubts about him on that score.

The other substantial story of the week has been about Andrew Little’s debut as Labour leader, which has received top marks, especially among the 25% of the electorate still voting Labour. According to some reports, the Labour caucus has been ‘in seventh heaven’ about Little’s success this week in taking it to the government in the House. More>>

ALSO:

 
 

Parliament Today:

Gordon Campbell: On Government Arrogance

Right now, National is ramming anti-terrorism measures through Parliament. This legislation will grant the SIS the power to carry out 48 hour bouts of surveillance on anyone without a warrant, and will bestow on government the power to unilaterally revoke anyone’s passports and thus deny them the freedom to travel. More>>

ALSO:

Glenn Inquiry: Report Offers Solutions To Family Violence

The People’s Blueprint unveiled today by Sir Owen Glenn’s independent inquiry into child abuse and domestic violence outlines a new, more cohesive and effective system for reducing New Zealand’s alarmingly high family violence rates. More>>

ALSO:

Environment Commissioner: Changing Climate And Rising Seas - Understanding The Science

A rising sea will be with us for a long time to come – one way or another we will have to adapt. But how high and how fast the water rises will be influenced by the speed at which the world – including New Zealand – reduces greenhouse gas emissions over the coming decades. More>>

ALSO:

Key Texts With Whale Oil Released: PM Can’t Be Trusted Over Dirty Politics Defence - Greens

John Key’s answers to questions about dirty politics can’t be trusted, after he was forced to admit that he had misled journalists and Parliament about contact with attack blogger Cameron Slater, said the Green Party today.. More>>

ALSO:

Temporary Release Crackdown Continues: Corrections Review Of Phillip Smith Case

“The review by Corrections’ Chief Custodial Officer reveals that the plan for Smith’s series of temporary releases was overly ambitious and misinformed. He’s a highly manipulative and deceptive person who although technically eligible, should not have been considered for temporary release." More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
Parliament
Search Scoop  
 
 
Powered by Vodafone
NZ independent news