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

 


Labour reheating same old spending recipe

Hon Steven Joyce
Minister for Economic Development

27 January 2014

Labour reheating same old spending recipe

The Labour Party is showing that after five years in Opposition and three Opposition Leaders they still haven’t learned any lessons from their last time in Government.

“Once again, the moment we get a lift in the economy, they want to start bribing people with massive extra spending. We haven’t even got to the end of January and Labour and the Greens are already promising to spend the thick end of an extra three quarters of a billion dollars a year,” Economic Development Minister Steven Joyce says.

“It’s like the GFC never happened: Labour’s last big spending splurges between 2005 and 2008 increased the deficit, dramatically increased interest costs, and put the economy into premature recession.

“And today they are back again singing from the same song sheet. Mr Cunliffe has to come clean with New Zealanders on where the money is coming from. Is it even more taxes, more borrowing and much higher interest rates; or is he getting out Russel Norman’s printing presses?

“Mr Cunliffe acts as if he has magically got $1.5 billion a year to spend because he cancelled some already-cancelled Labour Party policies last week that have never been budgeted in the country’s accounts.

“I have news for Mr Cunliffe. There was no GST off fruit and veges in Treasury’s forward projections, and no tax-free threshold to take out, so cancelling them (yet again) doesn’t save anything. For that matter there’s no money in there for their multi-billion dollar government building policy either.

“The real answer to lifting Kiwi incomes is attracting investment that boosts jobs, growth and people’s incomes. You can’t spend your way to prosperity. This Government understands that and is building a stronger economy to provide higher incomes for Kiwi families.

“Labour and the Greens want to spend it before we’ve got it and, at the same time, bring in risky backward-looking economic policies that would cost jobs and squash growth.

“That recipe will bring the same results as their last one: fewer jobs, less growth, higher spending, higher taxes and higher interest rates.

“Labour needs to get real about government spending and get real about the negative effect of its policies on Kiwi families and the New Zealand economy.”

ENDS

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Patience: Drive Safe

Be patient before passing is the AA's message for drivers this Labour weekend.

"People taking crazy risks to get past other vehicles is one of the most dangerous things on the road,” says AA spokesperson Dylan Thomsen.

“The weather is looking good for the long weekend so the roads will be busy. Unfortunately, that also increases the chances of people getting frustrated and trying a risky passing manoeuvre. When they get past, there will probably be more traffic up ahead anyway so it won’t get people there faster.” More>>

 
 

Parliament Today:

Employment Relations Bill: Govt Strains To Get Tea Break Law Through

The Government has been left with egg on its face - failing to get its much-vaunted, but hugely unpopular, meal break law passed in the first week of its new term, Labour spokesperson on Labour Issues Andrew Little says. More>>

ALSO:

Guns: Police Association Call To Arm Police Full Time

"The new minister gave his view, that Police do not need to be armed, while standing on the forecourt of parliament. The dark irony was that the interview followed immediately after breaking news of a gunman running amok in the Canadian parliament in Ottawa..." More>>

ALSO:

Gordon Campbell: On The Tokenism Of New Zealand's Role Against Islamic State

Our contribution against IS will be to send SAS forces to train the Iraqis? That’s like offering trainers to General Custer just as the 7th cavalry reached the Little Big Horn. More>>

ALSO:

Scoop Business: Shell And Todd Caught Drilling Without Approval

Multi-national oil company Shell’s New Zealand arm and local energy giant Todd Energy have breached the new law governing New Zealand’s Exclusive Economic Zone, the Environmental Protection Authority says in an Oct. 10 document released by the Green Party. More>>

ALSO:

Gordon Campbell: On Pharmac, Gough Whitlam And Sleater-Kinney

We’re not at the outset of these negotiations. The outset was six years ago, and negotiators were hoping to have some sort of ‘framework’ deal finished in time for the APEC meeting in a few weeks’ time. These ‘extreme’ positions are what we’ve reached near the intended end of the negotiations… More>>

ALSO:

PM Of Many Hats: Questions, No Answers On Whale Oil

Dr RUSSEL NORMAN (Co-Leader – Green) to the Prime Minister: How many times since November 2008 has he spoken with blogger Cameron Slater on the phone and how many times, if any, has he texted him?
Rt Hon JOHN KEY (Prime Minister): None in my capacity as Prime Minister. More>>

ALSO:

Aussie Investigation Dropped: Call On Minister McCully To Pursue The Case Of Balibo Five

West Papua Action is deeply concerned at the lack of any clear outcome from the Australian Federal Police inquiry into the 1975 deaths of the ‘Balibo Five’ including NZ journalist Gary Cunningham. More>>

ALSO:

'Feed The Kids' Bill: Metiria Turei To Lead Fight On Feeding Hungry Children

Green Party Co-leader Metiria Turei is urging all political parties to support the Feed the Kids Bill which she inherited today from Mana leader Hone Harawira. More>>

ALSO:

Parliament Today: State Opening Of Parliament

The House sat at 10.30am on Tuesday before MPs were summoned to hear the Speech from the Throne in the Legislative Council Chamber. More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
Parliament
Search Scoop  
 
 
Powered by Vodafone
NZ independent news