Joyce doesn’t get it

Steven Joyce’s shallow attack on our monetary policy display his fundamental lack of understanding says Labour’s finance spokesperson David Parker.

“Labour’s monetary policy changes include Universal Kiwisaver, varied use of prudential tools, a Capital Gains Tax (excluding the family home), Kiwibuild, restrictions on foreign buyers purchasing existing homes and farmland and a more sophisticated approach to immigration peaks -as well as the VSR.

“The measures would together take inflations out of the economy with less pressure on interest rates.

“Given that most economists and commentators already understand this, National and Mr Joyce’s narrow and outdated view of the world is becoming obvious.

“Labour is determined to get New Zealand’s interest rates, which are higher then overseas through the cycle , back to the lower levels of comparable countries.

“Labour policies will see New Zealanders save money, pay lower interest bills and give New Zealanders a more secure future .Our businesses will do better too and we will sustain more secure and well paid jobs.

“National’s Sunday night attempts to discredit us are motivated by a fear that Kiwis see the commonsense at the heart of Labour’s plan.”

Ends

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