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

Two Dead, One Injured: Suspect Arrested After Ashburton Shooting

Police apprehended Russell John Tully just after 5pm this evening following the armed incident in Ashburton this morning.

Canterbury dog section and AOS apprehended Tully not far from Lake Hood. No shots were fired although Tully will be treated for minor dog-bite injuries.

Tully is now in custody at Ashburton Police Station. More>>

 

Parliament Today:

John Key Press Conference: Ashburton Shootings, Judith Collins Inquiry

Prime Minister John Key has delayed the release of Nationals’ fiscal policy in light of this morning’s shooting at a Work and Income office in Ashburton... Key also answered questions about Judith Collins, and confirmed that independent inquiry will be held with regard to allegations made against Collins. More>>

ALSO:

Internet MANA: Georgina Beyer Rocks The Waka

“There is now, and always will be, a range of views about many issues within our movement and members are free to express them, but Georgina’s views on Kim Dotcom are not shared by the MANA Movement leadership or the vast majority of MANA members and supporters around the country” states MANA Candidate for Waiariki, Annette Sykes. More>>

ALSO:

IGIS Update: Inquiry Into Release Of NZSIS Information

The Inquiry would be conducted in private and individuals would appear before her separately over a period of more than a week. She does not intend to name those summoned to give evidence until her report is published. “I can confirm that all persons summoned will be required to appear under oath...” More>>

ALSO:

Gordon Campbell:
On John Key’s ‘Blame It On Judith’ Strategy

Right now, Prime Minister John Key seems intent on limiting the scope of any inquiry into his government’s dealings with Cameron Slater. The declared aim is to make that inquiry solely about Judith Collins’ behavior with respect to the Serious Fraud Office. More>>

ALSO:

Maori Council Lawyers' Statement: Supreme Court Decision On Maori Water Rights

“…the Supreme Court refused to give Pouakani people what they asked for, but may have given them something much, much better instead… the Supreme Court has questioned whether the Crown owns the River at all.” More>>

ALSO:

Gordon Campbell: On The Debate, And The Collins Accusation

Debating is a peculiar discipline in that what you say is less important than how you’re saying it. Looking poised, being articulate and staying on topic generally wins the day – and on that score, Labour leader David Cunliffe won what turned out to be a bruising encounter with Prime Minister John Key last night on TVNZ. More>>

ALSO:

Gordon Campbell: On Winston Peters' Latest Bout Of Immigrant Bashing

It is only one poll, but rather than cannibalising each other's vote, Colin Craig and Winston Peters do seem to be managing to find the room to co-exist... Few are questioning how Peters got to this happy place, and what it says about the mood of the electorate. More>>

ALSO:

More Immigration News: First People Trafficking Charges

The first people trafficking charges in New Zealand have been brought by Immigration New Zealand (INZ)... The defendants have been charged under the Crimes Act 1961 for arranging by deception the entry of 18 Indian nationals into New Zealand. More>>

Collins 'Misinterprets Media Reports': "Too Compromised To Remain Justice Minister"

Bizarre claims by Judith Collins this morning that she had been cleared of inappropriate behaviour by the Privacy Commissioner demonstrates she is too compromised to remain Justice Minister, Labour MP Grant Robertson says. More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
Parliament
Search Scoop  
 
 
Powered by Vodafone
NZ independent news