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

 

Parliament Today:

Werewolf: The Defence Pretence

Last year, the world began spending more money on weapons again, for the first time since 2011... New Zealand belongs to a region – Asia and Oceania – where military spending rose sharply in 2015, by 5.4 per cent. More>>

ALSO:

Gordon Campbell: On Not Crying Foul, Argentina

So a couple of guys found to be criminally liable of environmental pollution in Argentina lodge an application with the Overseas Investment Office… in order to buy some prime New Zealand rural land. Seems that their factory back home had carelessly and/or intentionally discharged toxic waste into the Lujan river. Bummer... More>>

ALSO:

Urban & Rural: $303m To Merge And Modernise New Zealand’s Fire Services

Internal Affairs Minister Peter Dunne today announced funding of $303 million over five years to combine urban and rural fire services into one organisation from mid-2017. More>>

ALSO:

High Trust Regime: What Did The PM Tell His Lawyer About Foreign Trusts?

The Government stopped the IRD from reviewing New Zealand foreign trusts shortly after the Prime Minister’s lawyer wrote to the Revenue Minister claiming John Key had promised him the regime would not be changed. More>>

ALSO:

Road Crime: Wicked Campers Vans Classified As Objectionable

The definition of publication includes any "thing that has printed or impressed upon it, or otherwise shown upon it, 1 or more (or a combination of 1 or more) images, representations, signs, statements, or words", The Classification Office has previously classified such 'things' as billboards, t-shirts, and even a drink can. This is the first time the Classification Office has classified a vehicle. More>>

ALSO:

'When New' Repairs: Landmark EQC Settlement

The Earthquake Commission has cut a deal with 98 Canterbury homeowners that affirms the government entity's responsibility to repair earthquake-damaged property to a 'when new' state, as well as covering repairs for undamaged parts of a property and clarifying its position on cash settlement calculations. More>>

ALSO:

Gordon Campbell: On Kiwirail’s Latest Stint In The Dogbox

The denigration of Kiwirail continues. The latest review (based on a 2014 assessment) of the options facing the company have enabled Kiwirail to be hung out to dry once again as a liability and burden on the taxpayer. More>>

ALSO:

Royal Society Report: Good Opportunities To Act Now On Climate Change

There are many actions New Zealand can and should take now to reduce the threat of climate change and transition to a low-carbon economy, a report released today by the Royal Society of New Zealand finds... More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
 
Parliament
Search Scoop  
 
 
Powered by Vodafone
NZ independent news