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

 


Dollar’s post-float high costing Kiwis jobs

David
PARKER
Spokesperson for Finance

9 April 2013 MEDIA STATEMENT
Dollar’s post-float high costing Kiwis jobs

The dollar has hit a post-float high on the trade weighted index for the second time in two months, showing it is critical that concrete action is taken to make our overvalued exchange rate more competitive, says Labour’s Finance spokesperson David Parker.

“The dollar has been too high for too long and it’s crippling Kiwi exporters. Now it’s at the highest level on the trade weighted index since it’s was floated.

“One of the reasons that the Tiwai Point aluminium smelter may be shut down is that the dollar’s strength is seriously impacting on their business. Over 3000 people rely on the smelter for their jobs.

“The high dollar is costing this country jobs. Last year 17,000 people lost their jobs in manufacturing. As we’ve heard in the manufacturing inquiry the blame for many of those losses can be pinned on the overvalued exchange rate.

“The IMF says the dollar is 15 per cent overvalued. It’s breaking the back of manufacturing exporters outside the primary sector.

“International practices have changed. Our trade competitors are addressing their exchange rates yet National still says there’s nothing they can do. That’s an insult to exporters.

“Our Reserve Bank has an obsolete tunnel-vision mandate to give primacy to inflation over other important factors such as the exchange rate and employment. We need to change the Act to give the Bank a 20/20 perspective on the economy so our exchange rate can be more competitive,” says David Parker.


© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Gordon Campbell:
On War Crimes And The Afghan Insurgency

Truly, with friends like former defence Minster Wayne Mapp, the SAS does not need enemies. At the very least, the Hit and Run book has raised the possibility that the New Zealand SAS committed war crimes in the attack they led in Afghnistan upon the villages of Naik and Khak Khuday Dad...

Mapp’s attempted defence of the SAS on RNZ this morning unintentionally indicated that collective punishment was baked into the planning exercise for the raid, and also into how the raid proceeded on the ground. More>>

 
 

Little Heading For Court: Apology Over Donation/Hotel Contract Claims Not Accepted

Today I want to publicly apologise unreservedly to Mr Hagaman for any hurt, embarrassment or adverse reflection on his reputation which may have resulted from my various media statements. I have offered that apology to the Hagamans. More>>

ALSO:

Biscuit Tin Of Democracy: World Heritage Site Protection, Ombudsman and Equal Pay Bills Drawn

On Thursday, 23 March 2017 three places are available on the Order Paper for the first reading of a Member’s bill. The ballot was held, and resulted in the following bills being drawn... More>>

ALSO:

Emissions Plan: NZ Needs More Science, More Trees, Fewer Beasts

A combination of technology breakthroughs, much more plantation forestry, and a big switch away from pastoral, particularly dairy farming, are identified as the key elements of any approach New Zealand takes to reducing its carbon emissions to a net zero level, according to a new report sponsored by the New Zealand chapter of GLOBE, a multi-party, global parliamentary grouping. More>>

ALSO:

"Backed To Win Seats": Labour Māori Seat MPs Won't Stand On List

The Labour Party is backing a request from its Māori seat MPs to stand as electorate MPs only, says Labour Leader Andrew Little. More>>

OutsKey: John Key's Valedictory Speech

I rise to address this House for the very last time. It has been a huge privilege to have served the people of Helensville as their member of Parliament, and, of course, the people of New Zealand as their Prime Minister. More>>

ALSO:

Productivity Commission: New Models Of Tertiary Education Are Coming

The report is a broad-ranging inquiry into how well New Zealand’s tertiary education system is set up to respond to emerging trends in technology and the internationalisation of education, and changes in the structure of the population, and the skills needed in the economy and society... More>>

ALSO:

PM's Press Conference: Water Everywhere

Monday's Post-Cabinet press conference focused on water, with the Prime Minister fielding questions about the possibility pricing water taken for export. Mr English said the government was directing their water allocation technical advisory group to include export water in considerations. More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
Parliament
Search Scoop  
 
 
Powered by Vodafone
NZ independent news