David Clark
Economic Development Spokesperson

1 August 2013

Joyce gilds the lily on high-tech manufacturing

Claims today by the Minister of Propaganda Steven Joyce about the success of high-tech manufacturing are an exercise in spin, Labour’s Economic Development spokesperson David Clark says.

A new Government report on the high and medium-high technology manufacturing sector has been heralded by Steven Joyce, but the facts don’t back up his claims, David Clark says.

“What the report actually shows is there has essentially been no job growth since this Government took office. Wage growth in high-tech manufacturing has been below the overall average.”

David Clark says any progress being made in this sector is because of the resilience and innovation of New Zealand’s high-tech companies.

“It is nothing to do with the Government whose economic policies fail to acknowledge the world has changed since the Global Financial Crisis.

“Steven Joyce could learn a lot by reading the report on the Manufacturing Inquiry which sets out a blueprint for better jobs and higher wages in this sector.”

The biggest concern for current high-tech exporters is the level and volatility of the exchange rate, he says. “So while export volumes are increasing, revenue is not.

“This report emphasises the importance of the Australian market to this sector and the bad news for exporters is the Australian exchange rate is at a five year high.

“New statistics show manufacturing exports have declined 18 per cent in real terms since National took office.”

ENDS

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