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

 


Regions lead recovery from Global Financial Crisis

Hon Steven Joyce
Minister for Economic Development

28 March 2014

Regions lead recovery from GFC

Provincial regions across the country have led New Zealand’s economic recovery from the Global Financial Crisis according to new Statistics New Zealand numbers released today, Economic Development Minister Steven Joyce says.

Bay Of Plenty, Gisborne and Hawke’s Bay in the North Island, and Nelson/Tasman, Canterbury, Otago, and Southland, have experienced growth above the national average of the five year period from 2008 to 2013, while Auckland, the West Coast, and Waikato have been just under the average. Meanwhile Taranaki continues to generate the highest GDP per capita by some margin.

“This new regional data, which wasn’t previously calculated, is the clearest indicator yet that it is our regional economies that have led New Zealand’s recovery from the GFC,” Mr Joyce says. “Sustained economic growth is the only way we can create more jobs and increase incomes.”

New regional GDP data, which is now available up until 31 March last year, covers the period of the GFC, the Canterbury earthquakes, and last summer’s drought which affected agricultural regions across the country.

“We can see in the data the clear effects of the drought last summer with a number of more farming-based regions having a tougher time in the year to 31 March 2013. We can also see the positive effect of the first stages of the earthquake rebuild in Canterbury, with growth of six per cent recorded in just one year,” Mr Joyce says.

“Overall the South Island has experienced stronger growth than the North Island over the last five years. The South has grown at 21 per cent while the North has grown 13 per cent in five years. That’s another signal, alongside lower unemployment rates, that there are significant job opportunities in the South Island.

Mr Joyce says regional GDP statistics would become a regular feature of the national landscape in the years ahead.

“It’s important to have clear indicators for the regions of the results of their efforts to attract investment and encourage growth,” Mr Joyce says.

ENDS

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

 

Gordon Campbell: On Bank Scandals (And Air Crashes)

Last month, the Australian Securities and Investment Commission (ASIC) filed proceedings against Westpac over activities that have some distinct echoes of the Libor scandal. More>>

Budget: Health Funding Must Keep Up With Need

NZNO: “The nursing team has been doing more with less for years. It’s getting to the point that we’re really worried about our colleagues, our patients, our jobs and the level of health care available for people in our country." More>>

ALSO:

Emissions Inventory: Time For The Government To Do The Right Thing

It’s time for the National Government to step up and do the right thing to reduce climate pollution as data shows New Zealand’s greenhouse gas emissions are higher than ever, the Green Party said today. More>>

ALSO:

Budget 2016: More Partnership Schools To Open

Seven new schools will join the eight Partnership Schools already open, along with further new schools opening in 2017. “The growth of this policy is a reflection of the high level of interest from educators and community leaders,” Mr Seymour says. More>>

ALSO:

No Correspondence With English: Did Brownlee Make Up Sale Of Navy Ships ‘On The Hoof?’

Having revealed that several Royal New Zealand Navy vessels have not left port in years, New Zealand First is now asking the Minister of Defence to prove he did not come up with the idea of selling HMNZS Taupo and Pukaki until the media asked him. More>>

Housing Plans: Labour- Abolish Auckland Urban Boundary
The Government should rule out any possibility of an urban growth boundary in Auckland Council’s Unitary Plan if it is serious about fixing the housing crisis. More>>
Greens - State House Solution
The Homes Not Cars policy allows Housing New Zealand to retain its dividend and, in addition, would refund its tax, to spend on the emergency building of around 450 new state houses. More>>

ALSO:

Houses And Taxes: Post-Cabinet, Pre-Budget Press Conference

The Prime Minister said that the pre-budget announcements showed that his Government is “investing in a growing economy”. He re-affirmed the National Government’s commitment to lowering personal tax rates but that any such change must fit with the fiscal reality of the time. More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
 
Parliament
Search Scoop  
 
 
Powered by Vodafone
NZ independent news