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

False Electoral Return: John Banks Sentenced To Community Work, Curfew

“The conviction of John Banks today is another sad chapter for John Banks and the ACT Party”, says Labour candidate for Epsom Michael Wood.

“Mr Banks was found guilty of electoral fraud in June. Regardless of what sentence is handed down, his reputation is in tatters. Sentencing is a matter for the court, and publicly deriding him further brings little benefit.”

“With the conviction confirmed, it is time for the ACT Party to step up to the mark and apologise to the people of Epsom. Mr Banks has suffered the consequences of his actions, but so far the ACT Party has gotten off scott-free” More>>

 
 

Parliament Today:

Gordon Campbell: On The Rise Of ISIS And Labour

While global attention got distracted by the fate of MH17 and the atrocities in Gaza, the world’s other mega ‘bad news’ story – the rise of ISIS-led fundamentalism in Iraq – has reached a tipping point. More>>

ALSO:

Parliament Today: Parliament Adjourns

The 50th Parliament has adjourned for the final time. After the completion of the adjournment debate, MPs left for the campaign trail with Parliament to be dissolved on August 14 ahead of the September 20 election. More>>

ALSO:

Novopayout: Government-Owned Company To Take Over School Payroll

After lengthy negotiations, the Ministry of Education and the existing school payroll provider, Talent2, have settled both on the amounts payable by Talent2 towards the costs of remediating the Novopay service and a new operating model for the school payroll system. More>>

ALSO:

Employment: Labour Will Raise Minimum Wage, Restore Work Rights

A Labour government will raise the minimum wage $2 an hour to $16.25 and restore work rights to ensure the benefits of economic growth are shared fairly by all New Zealanders, Labour Leader David Cunliffe says. More>>

ALSO:

Police: Crewe File Review Released

No new evidence has come to light implicating any specific person as being responsible for the murders of Jeannette and Harvey Crewe... The review identifies there is a distinct possibility that Exhibit 350 (the brass .22 cartridge case) may be fabricated evidence, and that if this is the case, that a member of Police would have been responsible. More>>

ALSO:

Werewolf Issue #49: Gordon Campbell Interviews Laila Harre

For 25 years, Labour and National have been in virtual agreement about the basics of economic policy, and differed mainly on how to go about managing its social consequences. More>>

ALSO:

Greens: Plan To Protect Our Maui’s Dolphins

1. Protect Maui’s from being killed in the sanctuary set up to protect them... 2. Extend fishing protections to the entire Maui’s range... 3. Help protect the livelihoods of affected fishers by supporting them to adopt dolphin-safe fishing methods. More>>

ALSO:

Gordon Campbell: On National’s Electorate Deals

For all the talk yesterday from Prime Minister John Key about National being transparent about its electorate deals in Epsom and Ohariu, that transparency is entirely front-loaded. More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
Parliament
Search Scoop  
 
 
Powered by Vodafone
NZ independent news