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High dollar, Government neglect sinks Kiwi boat building



Labour Leader

High dollar, Government neglect sinks Kiwi boat building

The New Zealand marine industry is sinking thanks to a falsely high dollar and a Government asleep at the wheel, Labour Leader David Cunliffe said today while visiting Oceania Marine in Whangarei.

“The marine industry is in full scale collapse; hundreds of workers have lost their jobs, a few firms are just hanging on. This is an industry in crisis.

“Industry players say having the dollar at US87 cents makes the industry uncompetitive.

“Labour's monetary policy will keep the dollar at more competitive levels using savings and implementing changes to the Reserve Bank Act to focus on exports. This would mean a lower average dollar and less volatility so that business can be more competitive.

“Labour’s Alternative Budget released yesterday confirms our commitment to a competitive boat building industry.

“A capital gains tax will help direct capital to where it’s most needed and can create the most jobs. KiwiSaver and a boosted New Zealand Super Fund will make domestic capital available to fund business investment.

“Labour's monetary policy will help adjust the dollar down and keep jobs at home. Labour’s economic development policies will create jobs through strategic partnerships between government and businesses. Kiwis suffer when Kiwi jobs go overseas.

“National is adding insult to injury by buying a ferry from Bangladesh while our own boat builders are being thrown out on the street.

“Something’s got to change. Labour has the determination to put Kiwi workers and Kiwi businesses first,” David Cunliffe says.

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