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


Parker in Wonderland wishes impossible things at breakfast

Parker in Wonderland wishes impossible things at breakfast

Press Release: ACT New Zealand
April 29, 2014, 12:20pm

“By announcing that they will meddle in monetary policy, Labour have broken a 25 year consensus that even Helen Clark did not threaten," said ACT leader Jamie Whyte.

“The proposal is unworkable, economically and politically. Asking the Reserve Bank to pursue conflicting objectives threatens the stability of the New Zealand economy.

“Economically, monetary policy can target stable prices, or some other objective. Loosening monetary policy to improve the current account deficit directly contradicts the goal of tightening it to control inflation. Mr Parker needs to explain which is more important because he can’t have it both ways.

“Politically, the Reserve Bank would be asking the government of the day to effectively raise taxes. Increased Kiwisaver contributions could take thousands of dollars per year out of family budgets. This is politically naïve.

“By trying to move the value of the dollar, the Reserve Bank will add its own element of currency instability and invite counter speculation by currency traders and hedge funds. It is a dangerous game for a small central bank to play.

“The only thing that truly matters in the New Zealand economy, like any other, is productivity growth.

"Meddling with the money supply is not only a distraction from the real goal, it will add instability and make this higher productivity and higher living standards more difficult to achieve.”


© Scoop Media

Parliament Headlines | Politics Headlines | Regional Headlines


Environment And Conservation: Changes To Our Oceans Pose Serious Concerns

New Zealand’s oceans, coasts, and marine wildlife are under growing pressure, according to the first national report from the Ministry for the Environment and Statistics New Zealand about the marine environment. More>>


Police Authority: Use Of Taser Was Disproportionate And Unjustified

The Independent Police Conduct Authority has found that an officer’s second use of a Taser on a mentally unwell Hokitika man was disproportionate and unjustified. More>>


Gordon Campbell: On Holidays, Hekia Parata And Badlands

Hekia Parata, adieu. Reportedly, she’s been ‘passionate’ about education. She has “bravely’ led the charge on the government’s education reforms. In the past week , many of the postscripts to Hekia Parata’s career as Education Minister have sounded like a schoolteacher desperately trying to find some reason why a D student can be marked up to C minus. More>>


Minister of Finance: Plan Shows $100 Billion Infrastructure Projects

Finance Minister Bill English has today launched the Government’s Ten Year Capital Intentions Plan (CIP) which shows a pipeline of $100.9 billion worth of infrastructure projects over the next decade. More>>


Werewolf: Safe Landings Gordon Campbell on the safety challenge to the Wellington runway extension.

The safety-related legal challenge revolves around the size of the 90 metre long Runway End Safety Area (RESA) being proposed for the runway extension. More>>


Environment Commissioner: We Need To Work Together On Climate Change And Farming

“The debate around agricultural emissions and the ETS has been polarised for too long,” said the Commissioner. “But the ETS is not the only way forward – there are other things that can be done.” More>>


NZ Super Fund: Seeking To Put A Market Price On Climate Change

Oct. 19 (BusinessDesk) - The New Zealand Superannuation Fund says it will devise a set of rules to assess investment winners and losers under climate change, a strategy that could rule out fossil fuels or producers such as current portfolio member Exxon ... More>>


Rejuvenation: Parata Will Not Contest 2017 Election

Education Minister and National List MP Hekia Parata has today announced that she will not be contesting the next election. She advised the Prime Minister of her decision earlier this year. More>>

Get More From Scoop



Search Scoop  
Powered by Vodafone
NZ independent news