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

Anzac Day:


Reshuffle: PM Announces Changes To Ministerial Portfolios

Prime Minister Bill English today announced the appointment of Gerry Brownlee as Minister of Foreign Affairs, Nathan Guy as Minister of Civil Defence, Nikki Kaye as Minister of Education and Mark Mitchell as Minister of Defence.

The changes follow the resignations from Cabinet of Hekia Parata and Murray McCully.

In other changes Simon Bridges has been appointed Leader of the House and Nicky Wagner has been made Minister supporting Greater Christchurch Regeneration. More>>

 

Q+A Transcript: CTU Call For 'National Standards' On Wages

‘If you look at countries who do better than us, who pay wages better, who have more competitive industries, more successful economies, they have systems where there are national standards.’ More>>

ALSO:

Health Workers Respond: People's Mental Health Report Released

The People's Mental Health Review reinforces a recent YesWeCare.nz survey of 6,000 health workers, which found nine in 10 believe they don't have the staff or resources to deliver the care Kiwis need when they need it. More>>

ALSO:

More Mental Health:

Energy: Greens Launch Plan For Cheaper And Cleaner Electricity

$112 million for winter warm-up payments to help low-income households cover their power bills • setting a goal for 100 percent renewable electricity by 2030 (in average hydrological conditions) • an investigation into the electricity wholesale market. More>>

ALSO:

Gordon Campbell: On The Aged-Care Settlement

Until yesterday, a National government has always been the sworn enemy of women seeking justice in the workplace, in the face of gender-based pay discrimination. More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
Parliament
Search Scoop  
 
 
Powered by Vodafone
NZ independent news