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

 


Rock-star economy unplugged by China log jam

Rock-star economy unplugged by China log jam


The collapse of log prices due to oversupply in China threatens to wash the gloss off what remains of National's so-called rock-star economy, says Labour Leader David Cunliffe.

“Already this year the price of milk solids has plunged by more than 40 per cent. Now the price of raw logs has halved in the past six months, highlighting the risk of exporting so much unprocessed timber.

“Almost half the value has been knocked off our expected future milk and wood export receipts in the last few months and that spells economic gloom.

“The timber industry has already lost 500 jobs in the past few months and thousands more are at risk. Our regions will continue to suffer. The knock-on effects will be felt from our rural centres to our cities.

“New Zealanders who already face rising power bills, rising rents and mortgages, rising costs of basics, and static or declining real-term wages, were told by the Government good times were just around the corner. But now they face a terrible hangover without having been to the party.

“Under this National Government more than 600,000 hectares of forestry land has been approved for sale to overseas interests. And instead of processing timber here – keeping local sawmills open, Kiwis in jobs, and adding value to wood products – we are now exporting more than half our logs as raw product. We are then re-importing dressed timber to rebuild Christchurch.

“That is not rock-star economics.

“Labour’s forestry policy will encourage the journey from volume to value in wood products – through tax deferral, R&D tax credits, security of supply, monetary policy to keep interest rates and the New Zealand dollar lower for longer, and a government pro-wood policy.

“We will reinvest in the regions with a $200 million infrastructure development fund.

“Through industry, investment and innovation, we will encourage the development of a diversified, modern, high-value economy – so that when commodity prices fall and the earthquake insurance checks are spent, our children will still have a future.

“National’s foolhardy, short-term approach – to bet the farm and the forest, or worse, sell it – threatens all our futures. A Labour government I lead will not let that happen,'' David Cunliffe says.

ends

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Election Day: National Win

With almost all votes counted National and John Key have won a third term and are close to being able to govern alone if they so choose.

Key has indicated he will still reach out to form a Government with ACT, United Future and Maori Party.

With 99.6 percent of the vote counted National had 48 percent, Labour 24.6 and the Greens 10. Though special votes might change the margins it is certainly a third term victory for Key defying the political gravity which usually hits parties seeking a third term. Increasing National’s party share is a remarkable political achievement...More>>

Overall Results | Live Results | Predictions |

 
 


Perfectly-Timed Anniversaries: Suffrage Day Is Last Chance To Enrol

“The last chance to enrol is Friday 19 September. You can’t enrol on election day.” More>>

ALSO:

Gordon Campbell: On First Time Voting (Greens)

For the last two days, I’ve turned my column over to a couple of guest columnists who are first time voters… Today’s guest columnist is Ana Avia-O’Connor, who will be casting her first time vote on Saturday for the Greens. More>>

ALSO:

Meddling: Aussie Liberals Embroiled In Key Campaign

John Key needs to explain why Australia’s Liberal Party is interfering in New Zealand domestic politics and is encouraging Kiwi voters across the ditch to vote for National just days out from the election, Labour’s campaign spokesperson Annette King says. More>>

ALSO:

SURVEILLANCE:

Election Ad Soundtrack: Rapper Eminem Sues National Party Over Copyright Breach

US rapper Eminem is suing the New Zealand National Party for alleged copyright infringement over unauthorised use of the rapper’s ‘Lose Yourself’ song in an election campaign advertisement. More>>

ALSO:

Big March: Call For An End To Domestic Violence

Hundreds of protesters marched down Lambton Quay to Parliament Monday calling for an end to domestic violence. Wearing white facemasks, waving banners and calling for “safety” for the women and children of New Zealand.. More>>

ALSO:

Pre-Election Chartering: Four New Partnership Schools To Open

Education Minister Hekia Parata today announced the Government has signed contracts to open four new Partnership Schools in 2015. More>>

ALSO:

Werewolf 50 Out Now - The Election Issue: Loss Leaders

Gordon Campbell: A third term requires a mature decision, with eyes wide open. It calls for a conscious vote of confidence… Without trying hard here are about 19 reasons, in no particular order, for not ticking ‘party vote’ National. More>>

ALSO:

Not-Especially New Plans: All Prisons To Become Working Prisons Under National

All public prisons in New Zealand will become full working prisons by 2017, and ex-prisoners will receive post-release drug addiction treatment if National is returned to government, says Corrections Spokesperson Anne Tolley. More>>

ALSO:

Māngere: "False Claim Of Matai Title" - Labour

National must explain why its candidate for Māngere Misa Fia Turner appears to be using a Matai title she is not entitled to, Labour’s MP for Māngere and Pacific Islands Affairs spokesperson Su’a William Sio says. A Matai title is a legally-recognised ... More>>

ALSO:

CPAG Report: No New Zealand Child Should Grow Up In Poverty

Child Poverty Action Group's flagship policy publication Our Children, Our Choice: Priorities for Policy calls for cross party political agreement to underpin an action plan to eliminate child poverty in New Zealand. More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
Parliament
Search Scoop  
 
 
Powered by Vodafone
NZ independent news