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

 

Also, Loan Interest: Productivity Commission On Tertiary Education

Key recommendations include better quality control; making it easier for students to transfer between courses; abolishing University Entrance; enabling tertiary institutions to own and control their assets; making it easier for new providers to enter the system; and facilitating more and faster innovation by tertiary education providers... More>>

ALSO:

Higher Payments: Wellington Regional Council Becomes A Living Wage Employer

Councillor Sue Kedgley said she was delighted that the Wellington Regional Council unanimously adopted her motion to become a Living Wage employer, making it the first regional council in New Zealand to do so. More>>

ALSO:

Scoop Images:
Dame Patsy Reddy Sworn In As Governor-General

This morning Dame Patsy Reddy was sworn in as the New Zealand Realm’s 21st Governor-General. The ceremony began with a pōwhiri to welcome Dame Patsy and her husband Sir David Gascoigne to Parliament. More>>

ALSO:

Ruataniwha: DOC, Hawke's Bay Council Developer Take Supreme Court Appeal

The Department of Conservation and Hawke's Bay Regional Investment Company (HBRIC) are appealing to the Supreme Court over a conservation land swap which the Court of Appeal halted. More>>

ALSO:

With NZ's Marama Davidson: Women’s Flotilla Leaves Sicily – Heading For Gaza

Women representing 13 countries spanning five continents began their journey yesterday on Zaytouna-Oliva to the shores of Gaza, which has been under blockade since 2007. On board are a Nobel Peace Laureate, three parliamentarians, a decorated US diplomat, journalists, an Olympic athlete, and a physician. A list of the women with their background can be found here. More>>

Gordon Campbell: On The Key Style Of Crisis Management

At Monday’s post Cabinet press conference Key was in his finest wide- eyed “Problem? What problem?” mode. No, there wasn’t really a problem that top MPI officials had been at odds with each other over the meaning of the fisheries policy and how that policy should be pursued... More>>

ALSO:

Mt Roskill: Greens Will Not Stand In Likely Post-Goff By-Election

“The Green Party’s priority is changing the Government in 2017, and as part of that we’ve decided that we won’t stand a candidate in the probable Mt Roskill by-election... This decision shows the Memorandum of Understanding between Labour and the Green Party is working." More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
 
Parliament
Search Scoop  
 
 
Powered by Vodafone
NZ independent news