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

 


Parker wrong nine times in one interview

Parker wrong nine times in one interview

The Labour Party's attempts to talk down New Zealand's economic performance have hit a new low this weekend with David Parker making at least nine factually incorrect statements in one short interview, Associate Finance Minister Steven Joyce says.

In the interview, with TV3's The Nation programme, Parker made assertions about low export prices, a poor balance of trade, job losses in the export sector, New Zealand’s current account deficit, high interest rates, a lack of business investment, 40 per cent house price increases, no tax on housing speculators, and low levels of house building.

Mr Joyce says all of Mr Parker’s assertions in relation to these nine things are incorrect.

“This is an appalling number of errors for someone who would seek to run New Zealand's economy. This number of errors surely can't have been made by accident,” Mr Joyce says.

“Mr Parker's attempts to describe the New Zealand economy sound much more like the situation this government inherited from Labour in 2008 than anything we are seeing in 2014.

“He must have been thinking of 2008 when he talked of ridiculously high interest rates, a poor balance of trade, and the poor performance of the export sector. All were pretty sick back then and all are in much better shape today as a result of this government's careful stewardship of the economy.”

Mr Joyce says there are two possible conclusions. “Either Labour is deliberately fudging the facts to fabricate the need for their radical economic policy prescription, or they have truly woken up in 2014 for the election without observing anything that has happened in the last five years. The latter would at least fit their regular denials of the impacts of the GFC and the Canterbury earthquakes.

“New Zealanders know that this country today is doing better than most other developed countries, and in 2008 we were doing worse than most, in fact entering our own recession before the Global Financial Crisis,” Mr Joyce says.

“It might be an idea for Labour to look at the steady improvements that are occurring in the New Zealand economy before they start trying to write up their policy ideas.”

ENDS

Schedule of inaccuracies in David Parker interview on The Nation - April 26 2014

1. "Export prices are going down"

Export prices in fact rose 13.8 per cent in the year to December 2013 (Statistics New Zealand).

The ANZ NZD Commodity Price Index rose 11.6 per cent in the year to March 2014 and is just 6 per cent below its all-time March 2011 peak.

2. "We are not covering the cost of our imports (and interest)"

Statistics New Zealand reported a merchandise trade surplus for New Zealand in the year to February 2014 of $649 million (1.3 per cent of exports).

January and February's merchandise trade surpluses were the highest ever for their respective months.

3. "We are losing jobs in the export sector"

The number of people employed in the agriculture, forestry, fisheries, mining and manufacturing sectors has increased by 16,100 in the last twelve months.

Total New Zealand employment increased by 66,000 in the last year or 3.0 per cent in one year. This is the fastest employment growth since December 2006. (Statistics New Zealand Household Labour Force Survey December 2013).

4. "This challenge of getting New Zealand's current account deficit under control"

New Zealand's balance of payments deficit is currently 3.4 per cent and has averaged only 3.1 per cent over the last four years.

Under Labour the Balance of Payments peaked at 7.9 per cent in December quarter 2008 and averaged 7 per cent over their last four years.

New Zealand's Net International Investment Position is currently down to 67 per cent of GDP after peaking at 85.9 per cent in March 2009.

5. "Ridiculously high interest rates"

Interest rates have just edged up above 50-year lows.

Floating mortgage interest rates are currently between 6 and 6.25 per cent. They peaked at 10.9 per cent between May and August 2008.

6. "Exporters.... Aren't willing to invest in plant"

Investment in plant, machinery and equipment by New Zealand companies was up 7.5 per cent in the December quarter and 3 per cent for the year. Investment in plant, machinery and equipment is now at its highest level ever (Statistics New Zealand – December quarter 2013 GDP release).

Just yesterday, long term New Zealand forestry processor Oji Limited announced a $1 billion investment to purchase Carter Holt Harvey Processing assets.

7. "House prices are up 40 per cent under them"

House prices under this government have increased at around 5.7 per cent per annum, compared to 10.7 per cent per annum under Labour, according to REINZ figures. Total house price increases over the period is 30 per cent, not the 40 per cent Mr Parker claims. That compares with a 96 per cent increase in house prices under Labour.

8. "You need to tax the speculators. They are not taxing speculators"

Taxpayers who buy and sell houses for income are currently taxed at their personal income tax rate on their capital income.

9. "They are not building any more houses"

The actual trend for the number of new dwellings, including apartments, is up 95 per cent from the series minimum in March 2011.

The trend is at its highest level since October 2007 (Statistics New Zealand February 2014 Building Consents Release).

Ends

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

#SaveCampbellLive : Mediaworks Delivered 104,000 Petition Signatures At TV3's Newton HQ
#PonyTailGate #TailGate Full Coverage

Pukeahu Park : ANZAC 100th Anniversary Dawn Service In Pictures

Roughly 18,000 people gathered this morning at Pukeahu Memorial Park for the Anzac day centenary. Anticipating the large turnout, patrons arrived as early as 4.30. It was virtually impossible to get near the Memorial after 5am. By 6, the crowds on Taranaki Street had stretched as far back as the Z Petrol station.

The screens erected around the park displayed the live events to those who had turned up. The heat generated by the huge number of people caused many to take a turn. Medics and ambulances were on hand for the fainting crowd members. Only twenty minutes into the ceremony, one medic said they had already dealt with 15 to 20 spells. More>>

 

PARLIAMENT TODAY:

War: What’s To Commemorate?

Gordon Campbell in Werewolf: Is there anything that can be validly commemorated on this 100th anniversary of Gallipoli? Beyond, that is, a fleeting sense of empathy with the thousands of soldiers killed or wounded on April 25 1915 and in the months thereafter, until the whole thing was finally called off in December 1915. More>>

MORE IN WEREWOLF:

ALSO:

Peter Ellis Case: Minister Declines Request For Commission Of Inquiry

Justice Minister Amy Adams has declined a request from supporters of Peter Ellis for a Commission of Inquiry on the basis that an inquiry cannot be used to determine the liability of any person. More>>

Quakes: New Process For Red Zone Crown Offers

Canterbury Earthquake Recovery Minister Gerry Brownlee has announced a process to give everyone a say on the Crown offers to owners of vacant, commercial/industrial and uninsured properties in the Residential Red Zone. More>>

ALSO:

Gordon Campbell: On The Battle Obama Is Waging Over The TPP

For the past two and a half years, this column has been arguing that the fate of the Trans Pacific Partnership (TPP) deal will hinge on whether US President Barack Obama can win Trade Promotion Authority (TPA) from Congress... Last week, the White House finally, finally unveiled a draft TPA Bill. More>>

ALSO:

Greens: Govt Breaks Free Doctors Visit Promise To Kids

Documents obtained by the Green Party show that the Government decided to fund only 90 percent of doctors’ visits for children suffering from an injury in an attempt trim the cost of the so-called “free” visits. More>>

ALSO:

Other Wars: Extension Of NZDF Commitment In Afghanistan

The New Zealand Defence Force’s commitment of mentors and support staff to the Afghan National Army Officer Academy in Afghanistan has been extended out to December 2016, Defence Minister Gerry Brownlee says. More>>

PM's Press Conference: Auckland Property Prices Increasing "Too Rapidly"

John Key accepted that Auckland property prices 'are going up too rapidly” in a press conference held today in Wellington, however he said that this is not anything new. More>>

ALSO:

Press Conference: ANZAC PMs Concerned About ISIL Bringing The War Home

Prime Minister Key and Prime Minister Abbott spoke of the bond formed between Australia and New Zealand in the “baptism of fire” of Gallipoli. Abbott stated that New Zealand and Australia’s values and interests are linked, and this is reflected in the joint operation in Iraq which will begin shortly. More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
More RSS  RSS News AlertsNews Alerts
 
 
 
Parliament
Search Scoop  
 
 
Powered by Vodafone
NZ independent news