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

 


PREFU likely to confirm dropping exports

PREFU likely to confirm dropping exports


National’s economic management will be put under the spotlight in tomorrow’s PREFU given clear signs the so-called rock star economy has fallen off the stage, with plummeting prices for raw commodity exports, Labour’s Finance spokesperson David Parker says.

“Under National, New Zealand has become ever more reliant on raw commodities such as milk and logs while non-primary manufacturing exports and other industries struggle.

“Overall exports have fallen from 33 per cent of GDP to 29 per cent of GDP under National, a far cry from their promise of increasing exports to 40 per cent of GDP.

“Analysts will be checking tomorrow's Treasury forecasts to see how much further exports are now predicted to fall.

“John Key and Bill English can't blame the GFC or the Canterbury earthquakes for taking New Zealand backwards in exports as a proportion of our economy. It is their mismanagement that is to blame.

“Meanwhile too much capital continues to go into housing speculation rather than productive investment. We will never get rich selling houses and farms to each other or to foreigners.

“John Key and Bill English will produce yet another projection that has them limping back into surplus for the first time in six years, compared to Labour’s nine surpluses in a row.

“When re-elected, Labour will continue where we left off - running surpluses - because sound fiscal management is important. But good economic management is about more than fiscal management.

“Our Economic Upgrade plan will diversify our economy and boost exports through a focus on investment, innovation and industry. We will increase investment through universal KiwiSaver and use a capital gains tax (excluding the family home) to direct it to productive businesses and jobs.

“We will boost innovation through research and development tax credits and tax incentives to encourage investment in new technology.

“We will support crucial industries through upgrade plans for sectors such as forestry, manufacturing and ICT.

"The choice this election on economic management is clear. More of the same or a much-needed upgrade,” David Parker says.

ends


© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

 

Also, Loan Interest: Productivity Commission On Tertiary Education

Key recommendations include better quality control; making it easier for students to transfer between courses; abolishing University Entrance; enabling tertiary institutions to own and control their assets; making it easier for new providers to enter the system; and facilitating more and faster innovation by tertiary education providers... More>>

ALSO:

Higher Payments: Wellington Regional Council Becomes A Living Wage Employer

Councillor Sue Kedgley said she was delighted that the Wellington Regional Council unanimously adopted her motion to become a Living Wage employer, making it the first regional council in New Zealand to do so. More>>

ALSO:

Scoop Images:
Dame Patsy Reddy Sworn In As Governor-General

This morning Dame Patsy Reddy was sworn in as the New Zealand Realm’s 21st Governor-General. The ceremony began with a pōwhiri to welcome Dame Patsy and her husband Sir David Gascoigne to Parliament. More>>

ALSO:

Ruataniwha: DOC, Hawke's Bay Council Developer Take Supreme Court Appeal

The Department of Conservation and Hawke's Bay Regional Investment Company (HBRIC) are appealing to the Supreme Court over a conservation land swap which the Court of Appeal halted. More>>

ALSO:

With NZ's Marama Davidson: Women’s Flotilla Leaves Sicily – Heading For Gaza

Women representing 13 countries spanning five continents began their journey yesterday on Zaytouna-Oliva to the shores of Gaza, which has been under blockade since 2007. On board are a Nobel Peace Laureate, three parliamentarians, a decorated US diplomat, journalists, an Olympic athlete, and a physician. A list of the women with their background can be found here. More>>

Gordon Campbell: On The Key Style Of Crisis Management

At Monday’s post Cabinet press conference Key was in his finest wide- eyed “Problem? What problem?” mode. No, there wasn’t really a problem that top MPI officials had been at odds with each other over the meaning of the fisheries policy and how that policy should be pursued... More>>

ALSO:

Mt Roskill: Greens Will Not Stand In Likely Post-Goff By-Election

“The Green Party’s priority is changing the Government in 2017, and as part of that we’ve decided that we won’t stand a candidate in the probable Mt Roskill by-election... This decision shows the Memorandum of Understanding between Labour and the Green Party is working." More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
 
Parliament
Search Scoop  
 
 
Powered by Vodafone
NZ independent news