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

 


National’s $10.5 billion failure


David
PARKER
Spokesperson for Finance

20 March 2013 MEDIA STATEMENT
National’s $10.5 billion failure

The fall in exports and the rising current account deficit proves that National’s promise to rebalance the economy has clearly failed, says Labour’s Finance spokesperson David Parker.

“Our exports fell by $1.3 billion from the year ended September 2012 to the year ended December 2012. That is a significant drop that has cost jobs. New Zealand has become poorer as a result. We have had to increase our borrowing as a country. That’s not good enough.

“The current account deficit has risen from 4.7 per cent of GDP to five per cent. Collectively New Zealanders now spend $10.5 billion more than we earn. We are simply not selling enough products and services overseas to cover what we import and the interest we pay.

“Our net international liabilities have also worsened. They are now $150 billion and 72 per cent of GDP.

“National promised to rebalance the economy and increase exports. They have clearly failed. We have lower growth than our major trading partners Australia, the USA and China. We should be doing better.

“Labour has the policies to rebalance the economy and get our country back in work and back in the black. And New Zealanders support them. Raising the retirement age will limit the impact of our ageing population, universal KiwiSaver will boost our savings and investments, and a capital gains tax will direct those investments into the exporting side of the economy.

“National’s policies are failing New Zealanders, they must change tack,” says David Parker.

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

 

Auckland Relocation Grants: 12 Grants Paid So Far

Since the policy took effect one month ago, 12 applicants have received the non-recoverable grant, supporting 32 people. $54,508 has been paid out, covering things like moving costs, bond, rent in advance and letting fees. More>>

ALSO:

Vaccine Funding Change: HPV Vaccines For All Children

PHARMAC has today announced changes to funded vaccines, which will benefit an extra 100,000 people... The human papillomavirus (HPV) vaccine will be available for all children and adults up to the age of 26 years, and boys will now be included in the HPV school vaccination programme. More>>

ALSO:

Gordon Campbell: On Why The Opinion Polls For Key And Trump Defy Gravity

What is going on? Donald Trump got confirmed as the Republican presidential candidate at a bizarrely chaotic political convention… and promptly received an upwards bump in the polls to where he’s now rating ahead of Hillary Clinton, for only the second time this year. More>>

Sugar: Auckland Leisure Centres Axe Unhealthy Drinks

Auckland Council is to stop selling drinks that are sweetened by sugar from vending machines at its leisure centres in a bid to try to reduce obesity and type 2 diabetes... More>>

ALSO:

Gordon Campbell: On Todd McClay’s Faulty Memory

Time and again, whenever an issue arises the initial response by government is to deny or diminish the problem – nothing to worry about here, everything’s OK, move on. Then, hang on. In line with the usual pattern, as embarrassing details emerged into daylight, the story changed. More>>

ALSO:

Labour's 'Future Of Work': Major Reform Of Careers And Apprenticeships

The next Labour Government will transform careers advice in high schools to ensure every student has a personalised career plan, Leader of the Opposition Andrew Little says. More>>

ALSO:

State Investments Management: Treasury Likes IRD, Not Education Or Corrections

The Inland Revenue Department has scored an 'A' in the first tranche of the Treasury's investor confidence rating for state agencies that manage significant Crown investments and assets, gaining greater autonomy as a result, while the Corrections and Education ministries gained a 'C' rating. More>>

ALSO:

Govt Goal: NZ To Be "Predator Free" By 2050

Prime Minister John Key has today announced the Government has adopted the goal of New Zealand becoming Predator Free by 2050... “That’s why we have adopted this goal. Our ambition is that by 2050 every single part of New Zealand will be completely free of rats, stoats and possums." More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
 
Parliament
Search Scoop  
 
 
Powered by Vodafone
NZ independent news