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

 


Manufactured Exports Plunge, Jobs Go As Nats Fail To Act

27 February 2013

Manufactured Exports Plunge, Jobs Go As Nats Fail To Act

New data shows that the value of manufactured exports fell by nearly 7 percent last year as the high dollar hurt Kiwi businesses and contributed to 17,000 job losses in the manufacturing sector, Green Party Co-Leader Dr Russel Norman said today.

“National’s failure to act on the dollar is killing our manufacturing sector,” said Dr Norman.

“These numbers show that manufacturers are being squeezed out of export markets by our over-valued currency.

“That means reduced export revenues for New Zealand to pay its way in the world, and thousands fewer jobs for Kiwis to support their families,” said Dr Norman.

The latest Overseas Merchandise Trade figures, released by Statistics New Zealand today, show that manufactured exports for the year to January 2013 were worth $11.3 billion, a 7 percent fall from the $12.1 billion a year before. Adjusted for inflation, manufactured exports are at the lowest level since the series began in 2002.

There are 17,000 fewer people working in manufacturing than a year ago, according to Statistics New Zealand’s Household Labourforce Survey.

The value of primary exports was also hit by the exchange rate, falling 5 percent over the year. Falling primary and manufactured exports are the principal reason why the trade deficit blew out to $1.2 billion in the last year.

“We cannot go on like this, sacrificing businesses and jobs on the altar of a failed ideology that says governments mustn’t intervene in the currency markets,” said Dr Norman.

“The fact is, most of our major trading partners are intervening in the currency markets to benefit their own economies and it’s New Zealand that is paying the price through an over-inflated dollar.

“It simply defies belief that John Key is arguing the high dollar is a good thing because it makes flat-screen TVs and overseas holidays cheaper. What good are cheaper luxuries if you’ve lost your job and are struggling to buy the groceries?

“National has led us to a situation where we are more indebted; where the high-wage, high-skill manufacturing jobs are disappearing fast; where Kiwis are fleeing across the Tasman at a rate of 1,000 a week; and where we are dependent on exports of volatile, extractive commodities like coal, rather than smart, green manufacturing companies.

“That’s not a brighter future for New Zealand; Kiwis deserve better,” said Dr Norman.

ENDS

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Gordon Campbell: On Populism And Labour 2017

For many people on the centre-left, populism is a dirty word, and a shorthand for the politics of bigotry. In this country, it has tended to be equated with the angry legions of New Zealand First. Who knew they were not just a reactionary spasm, but the wave of the future?

Certainly, at the end of this week, the next US President will have won office (at least in part) thanks to his proven ability at (a) scapegoating refugees and migrants (b) wooing neo-Nazis and racial supremacists (c) attacking journalists and judges (d) threatening to jail his opponents (e) urging nuclear proliferation and (e) by promising to restrict women’s rights to control their own fertility.

On the face of that campaign record, there wouldn’t seem to be much in common between Donald Trump and say, Spain’s centre-left populist party, Podemos. Yet arguably, the similarities could be instructive for the Labour/Green partnership here. More>>

 
 

Oxfam: 30% Of NZ Owns Less Wealth Than Our Two Richest Men

The research also reveals that the richest one per cent have 20 per cent of the wealth in New Zealand, while 90 per cent of the population owns less than half of the nation’s wealth. The research forms part of a global report released to coincide with this week’s annual meeting of political and business leaders at the World Economic Forum in Davos, Switzerland. More>>

ALSO:

Hospitals: Resident Doctors Set To Strike Again

Despite discussions between the DHBs and NZRDA over safer hours for resident doctors progressing during the last week, the strike planned for next week appears set to proceed. More>>

ALSO:

Not So Super Fund: More Burning Ethical Questions For Steven Joyce

Greens: Radio New Zealand reported this morning that the New Zealand Superfund has $77 million invested in 47 coal companies that the Norwegian Government’s Pension Fund – the largest sovereign fund in the world – has blacklisted. More>>

Activism: Greenpeace Intercepts World’s Biggest Seismic Oil Ship

Greenpeace crew have made contact with the world’s biggest seismic oil ship after travelling 50 nautical miles on two rigid-hulled inflatables off the coast of Wairarapa... Greenpeace radioed the master of the Amazon Warrior to deliver an open letter of protest signed by over 60,000 New Zealanders. More>>

ALSO:

Gordon Campbell: Why Tax Cuts In 2017 Would Be A (Proven) Bad Idea

Ever since the world fell prey to the mullahs of the free market in the 1980s, no amount of real world evidence has managed dispel one key tenet of their economic faith. Namely, the idea that if you cut income taxes and taxes on small business, a wave of individual enterprise and entrepreneurial energy will thus be unleashed, profits will rise and – hey bingo! – the tax cuts will soon be paying for themselves ... More>>

Liquor Sponsorship: Researchers Call For Ban On Alcohol Sponsorship Of Sport

“Due to alcohol sponsorship of sport, New Zealanders, including children, were exposed to up to 200 ads per hour they watched televised sport, and people watching football and tennis saw alcohol ads for almost half of each game,” says Associate Professor Signal. More>>

ALSO:

Mt Albert: Ardern For Labour, Genter For Greens

At the close of nominations, Jacinda Ardern was the sole nomination received for the position of Labour’s candidate for the Mt Albert by-election, says Labour General Secretary, Andrew Kirton. More>>

ALSO:

Earlier:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
Parliament
Search Scoop  
 
 
Powered by Vodafone
NZ independent news