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

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

Ridiculous reported comments on RNZ this morning by Trade Minister Tim Groser, as he sought to dampen down concerns about the leaked draft of the IP chapter of ther Trans Pacific Partnership negotiations. According to Groser, ‘extreme’ positions are common at the outset of negotiations, and these get whittled down over the course of negotiations. Fine.

Except that 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.

Still, Groser did promise that the cost of medicines would not rise as a result of the TPP trade deal. Great. But this is not what politicians in other countries are saying. More>>

.

 
 

Parliament Today:

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>>

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:

Tertiary Education: Students Doing It Tough As Fees Rise Again

The Government is making it increasingly difficult for Kiwis to gain tertiary education as fees continue to rise and access to student support becomes even more restricted, Labour’s Tertiary Education spokesperson Chris Hipkins says. More>>

ALSO:

Housing, Iraq: PM Press Conference – 20 October 2014

Prime Minister John Key met with press today to discuss:
• Housing prices and redevelopment in Auckland
• Discussions with Tony Abbott on the governmental response to ISIS, and New Zealand’s election to the UN Security Council More>>

ALSO:

Labour: Review Team Named, Leadership Campaign Starts

Labour’s New Zealand Council has appointed Bryan Gould as Convenor of its post-General Election Review. He will be joined on the Review Team by Hon Margaret Wilson, Stacey Morrison and Brian Corban.

ALSO:

Roy Morgan Poll: National Slips, Labour Hits Lows

The first New Zealand Roy Morgan Poll since the NZ Election shows National 43.5% (down 3.54% since the September 20 Election). This isn’t unusual, National support has dropped after each of John Key’s Election victories... However, support for the main opposition Labour Party has crashed to 22.5% (down 2.63% and the lowest support for Labour since the 1914 NZ Election as United Labour). More>>

ALSO:

In On First Round: New Zealand Wins Security Council Seat

Prime Minister John Key has welcomed New Zealand securing a place on the United Nations Security Council for the 2015-16 term. More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
Parliament
Search Scoop  
 
 
Powered by Vodafone
NZ independent news