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.


© Scoop Media

Parliament Headlines | Politics Headlines | Regional Headlines



Relevant Consents Gained: Government Unveils RMA Reform Package

The government has formally hauled down the flag on its attempts to alter the balance of environmental and economic priorities in the Resource Management Act, unveiling a 180-page Resource Legislation Amendment Bill containing reforms that have been largely endorsed by most political parties. More>>


Closing Schools And Such: Interim Redcliffs Decision Announced

“While the school’s board has argued that circumstances that could give rise to potential disruption are extremely unlikely, advice from technical experts has shown these concerns cannot be ruled out." More>>


Jane Kelsey: High Court Can’t Make Groser Provide TPPA Information Faster

‘This week we went back to court to challenge Trade Minister Groser’s stalling tactics over the release of information on the Trans-Pacific Partnership Agreement negotiations, following a High Court order that he reconsider the Official Information Act request I made last January’, said University of Auckland law professor Jane Kelsey, first applicant in the case. More>>

Werewolf 58: No Climate For Change

The last time the global community tried to take collective action on climate change the world’s leaders finally came to agree that every not-too-onerous effort should be made to hold global warming to 2°C above the pre-industrial average. At Paris, all 150 participant countries nations will have put forward their pledges... On the information available, New Zealand's is the second weakest contribution of any nation in the developed world. More>>


Lambton Quay Shutdown: Object Was Made To Look Like Bomb

Police cordoned off part of Lambton Quay Wednesday afternoon, saying that a suspicious package had been found. Buildings were evacuated and buses were detoured. The army’s explosive ordnance disposal unit was brought to the Quay. More>>


Public Sector Still Shrinking: Record Low Number Of 'Backroom Bureaucrats'

Ongoing restraint in the public sector and a focus on better frontline services has seen a further reduction in the number of core Government employees, State Services Minister Paula Bennett says. More>>


Disobeying The Law: Police Censorship Of Crime Research “An Outrage”

The Green Party is calling on Police Minister Michael Woodhouse to ensure Police scrap controversial contracts that place onerous restrictions on academic researchers’ access to Police data, the Green Party says. More>>


Get More From Scoop



Search Scoop  
Powered by Vodafone
NZ independent news