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.”

ENDS

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

 

Parliament Today:

Werewolf: The Defence Pretence

Last year, the world began spending more money on weapons again, for the first time since 2011... New Zealand belongs to a region – Asia and Oceania – where military spending rose sharply in 2015, by 5.4 per cent. More>>

ALSO:

Gordon Campbell: On Not Crying Foul, Argentina

So a couple of guys found to be criminally liable of environmental pollution in Argentina lodge an application with the Overseas Investment Office… in order to buy some prime New Zealand rural land. Seems that their factory back home had carelessly and/or intentionally discharged toxic waste into the Lujan river. Bummer... More>>

ALSO:

Urban & Rural: $303m To Merge And Modernise New Zealand’s Fire Services

Internal Affairs Minister Peter Dunne today announced funding of $303 million over five years to combine urban and rural fire services into one organisation from mid-2017. More>>

ALSO:

High Trust Regime: What Did The PM Tell His Lawyer About Foreign Trusts?

The Government stopped the IRD from reviewing New Zealand foreign trusts shortly after the Prime Minister’s lawyer wrote to the Revenue Minister claiming John Key had promised him the regime would not be changed. More>>

ALSO:

Road Crime: Wicked Campers Vans Classified As Objectionable

The definition of publication includes any "thing that has printed or impressed upon it, or otherwise shown upon it, 1 or more (or a combination of 1 or more) images, representations, signs, statements, or words", The Classification Office has previously classified such 'things' as billboards, t-shirts, and even a drink can. This is the first time the Classification Office has classified a vehicle. More>>

ALSO:

'When New' Repairs: Landmark EQC Settlement

The Earthquake Commission has cut a deal with 98 Canterbury homeowners that affirms the government entity's responsibility to repair earthquake-damaged property to a 'when new' state, as well as covering repairs for undamaged parts of a property and clarifying its position on cash settlement calculations. More>>

ALSO:

Gordon Campbell: On Kiwirail’s Latest Stint In The Dogbox

The denigration of Kiwirail continues. The latest review (based on a 2014 assessment) of the options facing the company have enabled Kiwirail to be hung out to dry once again as a liability and burden on the taxpayer. More>>

ALSO:

Royal Society Report: Good Opportunities To Act Now On Climate Change

There are many actions New Zealand can and should take now to reduce the threat of climate change and transition to a low-carbon economy, a report released today by the Royal Society of New Zealand finds... More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
 
Parliament
Search Scoop  
 
 
Powered by Vodafone
NZ independent news