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


America’s Cup is weather-dependent, our economy can’t be


Spokesperson for Finance

19 September 2013         MEDIA STATEMENT

America’s Cup is weather-dependent, our economy can’t be

It is one thing for the America’s Cup to depend on the weather but statistics out today show our economy relies too much on the elements, says Labour’s Finance spokesperson David Parker.

“The weather had a big impact today. The 12th race of the America’s Cup was abandoned and Statistics New Zealand figures released today showed that GDP growth in the last quarter stagnated because of the drought. Agriculture activity declined by 6.4 per cent.

“It is one thing for the sporting hopes of our nation to rest upon the weather. The wealth of our nation should not.

“New Zealand’s economy is too dependent on the primary sector. When there is bad weather all of us suffer the impacts.

“Bill English came into office promising to rebalance the economy. He has clearly failed. Primary industries will always be important to New Zealand but we must ensure other industries are given the room and settings to flourish.

“Only that way will we be able to get through a drought without seriously hurting the economy.

“GDP growth of 0.2 per cent was held up by the rebuild of Christchurch, with construction activity increasing by 2.3 per cent. Our underlying economic performance is lacklustre.

“Labour will rebalance the economy by increasing our investment pool through universal KiwiSaver and get that investment into high-growth industries through a capital gains tax and research and development tax credits.

“We will also reform the Reserve Bank’s outdated tunnel vision mandate so the Bank can take stronger consideration of jobs and exports, rather than the primacy given to inflation. 

“Bill English has failed to rebalance the economy. He doesn’t have the ideas New Zealanders need. Labour does,” says David Parker.


© Scoop Media

Parliament Headlines | Politics Headlines | Regional Headlines



Australia Deportations: English Relaxed On Immigration Centre Conditions

Labour's Annette King: “There have been numerous reports from inside these detention centres on just how bad conditions are... If they were being held in any other foreign jail, I imagine Mr English would be somewhat concerned. More>>


Schools: Achievement-Based Funding Would Be A Disaster

The Education Minister’s speech to the PPTA Conference raising the spectre of achievement data driving a new funding system would be disastrous, says NZEI Te Riu Roa. More>>

  • Video Out-Link - PPTA Annual Conference 2015 on Livestream (Q+A dicussion suggests funding would be directed to less successful schools.)

  • ALSO:

    ECE Report:

    Key In NY: Prime Minister Addresses United Nations

    Prime Minister John Key has addressed the United Nations General Assembly in New York, focusing on a call for action in Syria and on other conflicts, reform of the veto process and on the UN’s Sustainable Development Goals. More>>.


    Gordon Campbell: On The Lack Of Accountability Over Philip Smith

    In New Zealand, accountability is an exotic creature rarely glimpsed at ministerial level, or among senior management. The flight to Rio by the paedophile /murderer Philip John Smith/Traynor is no exception. More>>


    More On Corrections

    Gordon Campbell: On Putin’s Diplomatic Coup Over Syria

    There’s a simple historical precedent for what is occurring in Syria. During WWII, the Allies joined forces with a known butcher and tyrant – Joseph Stalin of the Soviet Union – in order to defeat a greater evil, Nazi Germany… More>>


    Key 'Didn't Know': Brownlee Seeks Pandas In China

    While Defence Minister Gerry Brownlee is in China pushing a taxpayer funded deal to bring two pandas to New Zealand, the country’s military look set to be hit with a pay freeze, Opposition Leader Andrew Little says. More>>


    Scoop Business: GCSB Willing To Extend Cyber-Attack Programme To Local ISPs

    The Government Communications Security Bureau’s ‘Cortex’ cyber-security programme has been successful in helping identify and mitigate a series of cyber attacks since its introduction and an extension to cover local internet service providers is still on the cards... More>>


    Get More From Scoop



    Search Scoop  
    Powered by Vodafone
    NZ independent news