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

 


Provinces being hit hard by government policies

Provinces being hit hard by government policies

The overheated Auckland housing market and the Reserve Bank’s response to lift interest rates are causing massive damage to our provinces, Labour’s Finance spokesperson David Parker says.

“Leading economist Shamubeel Eaqub has called the latest rise in the official cash rate a ‘huge mistake’ that is punishing small town New Zealand.

“Auckland house prices have risen 20 per cent in real terms since 2007, with Canterbury prices up 13 per cent and Wellington up 7 per cent. Yet house prices in the rest of the country have fallen 21 per cent in real terms over the same period.

“Shamubeel Eaqub says it ‘scares the hell out of him’ that each OCR rise risks tipping the regions into recession.

“He also points out that ‘the gaps opening up in New Zealand are really big across geographical, race and education lines’.

“This is exactly what Labour has been saying.

“National’s policies have failed to rebalance the economy towards the productive economy and jobs.

“This failure is evident in figures out today that show despite being buoyed by our terms of trade being at a 40 year high, New Zealand still has a significant current account deficit of $6.3 billion (2.8 percent of GDP). And it is only forecast to get worse from here on.

“A Labour government will rebalance the economy towards the productive sector and breathe life back into our provinces.

“Labour will take the heat out of the Auckland housing market by taxing capital gains, clamping down on overseas speculators and building 100,000 affordable houses. We will also exempt first-time home buyers and the provinces from mortgage restrictions.

“Labour’s Economic Upgrade will create sustainable and well-paid jobs. We will foster conditions for industries to grow in through research and development tax credits.

“A Labour government will stop the growing inequality between Auckland and our provinces,” David Parker says.

ends

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Gordon Campbell:
On War Crimes And The Afghan Insurgency

Truly, with friends like former defence Minster Wayne Mapp, the SAS does not need enemies. At the very least, the Hit and Run book has raised the possibility that the New Zealand SAS committed war crimes in the attack they led in Afghnistan upon the villages of Naik and Khak Khuday Dad...

Mapp’s attempted defence of the SAS on RNZ this morning unintentionally indicated that collective punishment was baked into the planning exercise for the raid, and also into how the raid proceeded on the ground. More>>

 
 

Biscuit Tin Of Democracy: World Heritage Site Protection, Ombudsman and Equal Pay Bills Drawn

On Thursday, 23 March 2017 three places are available on the Order Paper for the first reading of a Member’s bill. The ballot was held, and resulted in the following bills being drawn... More>>

ALSO:

Emissions Plan: NZ Needs More Science, More Trees, Fewer Beasts

A combination of technology breakthroughs, much more plantation forestry, and a big switch away from pastoral, particularly dairy farming, are identified as the key elements of any approach New Zealand takes to reducing its carbon emissions to a net zero level, according to a new report sponsored by the New Zealand chapter of GLOBE, a multi-party, global parliamentary grouping. More>>

ALSO:

"Backed To Win Seats": Labour Māori Seat MPs Won't Stand On List

The Labour Party is backing a request from its Māori seat MPs to stand as electorate MPs only, says Labour Leader Andrew Little. More>>

Productivity Commission: New Models Of Tertiary Education Are Coming

The report is a broad-ranging inquiry into how well New Zealand’s tertiary education system is set up to respond to emerging trends in technology and the internationalisation of education, and changes in the structure of the population, and the skills needed in the economy and society... More>>

ALSO:

PM's Press Conference: Water Everywhere

Monday's Post-Cabinet press conference focused on water, with the Prime Minister fielding questions about the possibility pricing water taken for export. Mr English said the government was directing their water allocation technical advisory group to include export water in considerations. More>>

ALSO:

Kim Workman: Reality Check Needed For Public Service Reoffending Target

Reducing the prison population results in a reduction in re-offending. Shortening sentences reduces reoffending... More>>

ALSO:

PSA: Minister Should Stop Dodging On Salisbury School

"The decision around the future of Salisbury School has been overdue for months, and the ambiguity is leaving parents, staff and students in limbo. It’s time the Minister stopped hiding, muddying the waters and being dishonest about her Ministry’s intentions," says Erin Polaczuk, PSA national secretary. More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
Parliament
Search Scoop  
 
 
Powered by Vodafone
NZ independent news