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

 


Wages go backwards under National

5 February 2014

Wages go backwards under National

New data released today shows that salaries and wages are not keeping up with the rising cost of living, the Green Party said today.

Statistics New Zealand today released its Quarterly Labour Cost Index showing how salaries and wages have changed over time. Since March 2009, all salaries and wages increased by 7.3 percent while the Consumer Price Index increased by 9.2 percent. Another way to compare the data – from the December 2008 to December 2013 quarter – shows a similar trend; salaries and wages increased by 9.3 percent while the Consumer Price Index increased by 10.8 percent.

“Wages and salaries are going backwards in real terms under National leaving people worse off,” said Green Party Co-leader Dr Russel Norman.

“Today’s numbers confirm what most people have been feeling for years – their pay is not keeping up with the rising cost of living.

“Households are getting squeezed from five years of National’s economic management.

“With interest rates set to start rising next month, all families with a mortgage are about to be squeezed even further.

“The forecast one percent hike in the OCR this year will raise the average homeowner’s mortgage payment by $70 a fortnight.

“If this is the ‘sweet spot’ under National, it’s turning out sour for most Kiwis.

“It’s time to call National’s signature economic strategy of asset sales and risky oil drilling a failure. We should be investing, instead, in jobs-rich sectors with proven success records like hi-tech manufacturing, adding value to our forestry exports, and IT.

“National has materially failed to grow jobs and wages, and failed to protect households from rising house and power prices,” said Dr Norman.

More information: Statistics New Zealand Labour Cost Index

ENDS

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

 

Parliament Today:

The Kids: OECD Report Shows Huge Impact Of Poverty On Education

A new report from the OECD has again highlighted the negative effects of poverty, showing that disadvantaged children in New Zealand are more than six times more likely to underachieve in maths than children from wealthier homes. More>>

ALSO:

Pacific: NZ Pledges $500,000 To Help Address Zika

“With the Zika virus now confirmed in a number of Pacific countries, New Zealand is committed to helping limit the impact and spread of the virus in the region,” says Mr McCully. “New Zealand will provide $250,000 as a contribution to the WHO to implement the Pacific Zika Action Plan, and a further $250,000 to enable countries in the region to respond rapidly if required." More>>

ALSO:

Labour: Police Commissioner 'Doesn’t Get Force Needs'

The Police Commissioner has let down the public and his own force by insisting the police have what they need despite it taking a year to solve a burglary and overwhelming number of officers saying they are under-resourced, says Labour’s Police spokesman Stuart Nash. More>>

ALSO:

Gordon Campbell: On The US Pressure To Expand Our Role In Iraq

Foreign news services are being more forthcoming about what the “next 12 months” will entail – essentially, the defence ministers will be under US pressure to increase their “training” role preparatory to an assault on the city of Mosul in northern Iraq. More>>

ALSO:

Parliament Restarts: Prime Minister’s Statement

Our policy agenda and legislative programme will reflect the Government’s four priorities: • to responsibly manage the Government’s finances • to build a more competitive and productive economy • to deliver better public services to New Zealanders, an • to support the rebuilding of Christchurch. More>>

ALSO:

NZEI Survey Report: Special Needs Students Missing Out

The survey revealed that around 16 percent of students were on schools’ special needs registers, but nearly 90 percent of schools’ special needs coordinators did not believe there was adequate support for students and their learning... More>>

ALSO:

Interim Report: Waitangi Tribunal On Ture Whenua Legislation

Labour on Proposed changes to Maori land rules: “To have Treaty Negotiations Minister Chris Finlayson dismiss findings as ‘bizarre’ is totally disingenuous and disrespectful. What’s bizarre is Maori Development Minister Te Ururoa Flavell stubbornly pushing through this Bill before the Waitangi Tribunal has even completed its report..." More>>

ALSO:

Spy Update: Appointment Of GCSB Acting Director

GCSB Chief Legal Advisor Lisa Fong will become the Acting Director of the Government Communications Security Bureau (GCSB) from 15 February 2016, Minister Responsible for the GCSB Christopher Finlayson announced today. More>>

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
 
Parliament
Search Scoop  
 
 
Powered by Vodafone
NZ independent news