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

 


Rising profits v stagnating wages show increasing inequality

Rising profits v stagnating wages shows increasing inequality

Company profits are increasing much faster than the wage rates of working Kiwis, showing the gap between the haves and have-nots is increasing, said Labour’s Finance spokesperson David Parker.

“The vast majority of Kiwi families are just treading water. Wage rates have increased in the past year by just 1.6 per cent[1] which is exactly the same as the inflation rate. That’s why so many New Zealanders feel they are not getting ahead

“In contrast a First NZ Capital report showed almost half of all listed corporates’ profits are increasing by over 10 per cent. And 60 per cent of listed corporates’ profits are rising by over three per cent.

“The gap between the have and have nots is getting wider. Not only are profits rising much faster than wage rates but home ownership rates are falling. That’s totally against the egalitarian spirit of our country.

“National is crowing about the economy climbing out of our deepest recession in modern history but this shows the recovery will only go to the few at the top.

“For the rest of New Zealand the recovery is a pipedream,” says David Parker.

ends

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Reshuffle: PM Announces Changes To Ministerial Portfolios

Prime Minister Bill English today announced the appointment of Gerry Brownlee as Minister of Foreign Affairs, Nathan Guy as Minister of Civil Defence, Nikki Kaye as Minister of Education and Mark Mitchell as Minister of Defence.

The changes follow the resignations from Cabinet of Hekia Parata and Murray McCully.

In other changes Simon Bridges has been appointed Leader of the House and Nicky Wagner has been made Minister supporting Greater Christchurch Regeneration. More>>

 

Q+A Transcript: CTU Call For 'National Standards' On Wages

‘If you look at countries who do better than us, who pay wages better, who have more competitive industries, more successful economies, they have systems where there are national standards.’ More>>

ALSO:

Health Workers Respond: People's Mental Health Report Released

The People's Mental Health Review reinforces a recent YesWeCare.nz survey of 6,000 health workers, which found nine in 10 believe they don't have the staff or resources to deliver the care Kiwis need when they need it. More>>

ALSO:

More Mental Health:

Energy: Greens Launch Plan For Cheaper And Cleaner Electricity

$112 million for winter warm-up payments to help low-income households cover their power bills • setting a goal for 100 percent renewable electricity by 2030 (in average hydrological conditions) • an investigation into the electricity wholesale market. More>>

ALSO:

Gordon Campbell: On The Aged-Care Settlement

Until yesterday, a National government has always been the sworn enemy of women seeking justice in the workplace, in the face of gender-based pay discrimination. More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
Parliament
Search Scoop  
 
 
Powered by Vodafone
NZ independent news