Parliament

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

Turei To Be Interviewed By MSD: Gordon Campbell On The Real Truth Deficit In Welfare

It has been astonishing to see the amount of time and energy being spent on what Greens co-leader Metiria Turei did or didn’t do properly as a beneficiary back in the early 1990s – as compared to how little time and energy is being put into the point of her personal example.

Turei was citing her case in order to query whether much has changed – especially when it comes down to whether the current benefit levels and targeting rules at WINZ are helping or hindering today’s beneficiaries to escape from poverty. More>>

 

Gordon Campbell: On The Bojo Visit

British Foreign Minister Boris Johnson is in town, just over a year since his political career peaked… and then wobbled off into a grey zone of indecision… Currently, Johnson is touring the former colonies, talking up the historical ties. More>>

ALSO:

Tertiary Ed: Government Responds To Productivity Commission

The work programme will focus on four key areas. • Creating a more student-centred system • Meeting the needs of industry through relevant, responsive, and supportive teaching • Improving performance across the system • Enabling and encouraging innovative new models and providers More>>

ALSO:

PM's Science Advisor: Youth Suicide In NZ Discussion Paper

The paper discusses the multiple factors involved in youth suicide and possible and evidence-based approaches to prevention. It points out the very different context in which young people now live their lives and the challenges of the transition from childhood to adulthood. More>>

ALSO:

Drug Deaths: Accurate Information Is Vital

Drug Foundation: The spike in hospital admissions and reported deaths in Auckland as a result of people taking unknown substances is not being helped by an information vacuum. More>>

ALSO:

Backing Dunne & Seymour: National Signals Election Intentions

“We are encouraging National supporters to give their electorate vote to ACT candidate, David Seymour, in Epsom, and United Future candidate, Peter Dunne, in Ohariu – and their party vote to National." More>>

ALSO:

Climate Policy: Govt's New Proposals For ETS

“Last year, as a result of stage one of the review, we announced the phase out of the one-for-two measure in the ETS. I am now announcing further changes as a result of stage two of the review.” More>>

ALSO:

PM's Press Conference: Boris, Infrastructure, Immigration, Drugs

Prime Minister Bill English opened this week's post-cabinet press conference by revisiting that day's announcement of 'Crown Infrastructure Partners'... More>>

 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

Featured InfoPages

Opening the Election