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.


© Scoop Media

Parliament Headlines | Politics Headlines | Regional Headlines



Relevant Consents Gained: Government Unveils RMA Reform Package

The government has formally hauled down the flag on its attempts to alter the balance of environmental and economic priorities in the Resource Management Act, unveiling a 180-page Resource Legislation Amendment Bill containing reforms that have been largely endorsed by most political parties. More>>


Closing Schools And Such: Interim Redcliffs Decision Announced

“While the school’s board has argued that circumstances that could give rise to potential disruption are extremely unlikely, advice from technical experts has shown these concerns cannot be ruled out." More>>


Jane Kelsey: High Court Can’t Make Groser Provide TPPA Information Faster

‘This week we went back to court to challenge Trade Minister Groser’s stalling tactics over the release of information on the Trans-Pacific Partnership Agreement negotiations, following a High Court order that he reconsider the Official Information Act request I made last January’, said University of Auckland law professor Jane Kelsey, first applicant in the case. More>>

Werewolf 58: No Climate For Change

The last time the global community tried to take collective action on climate change the world’s leaders finally came to agree that every not-too-onerous effort should be made to hold global warming to 2°C above the pre-industrial average. At Paris, all 150 participant countries nations will have put forward their pledges... On the information available, New Zealand's is the second weakest contribution of any nation in the developed world. More>>


Lambton Quay Shutdown: Object Was Made To Look Like Bomb

Police cordoned off part of Lambton Quay Wednesday afternoon, saying that a suspicious package had been found. Buildings were evacuated and buses were detoured. The army’s explosive ordnance disposal unit was brought to the Quay. More>>


Public Sector Still Shrinking: Record Low Number Of 'Backroom Bureaucrats'

Ongoing restraint in the public sector and a focus on better frontline services has seen a further reduction in the number of core Government employees, State Services Minister Paula Bennett says. More>>


Disobeying The Law: Police Censorship Of Crime Research “An Outrage”

The Green Party is calling on Police Minister Michael Woodhouse to ensure Police scrap controversial contracts that place onerous restrictions on academic researchers’ access to Police data, the Green Party says. More>>


Get More From Scoop



Search Scoop  
Powered by Vodafone
NZ independent news