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

 


Nothing to Smile About in Economic And Fiscal Update

Nothing to Smile About in Economic And Fiscal Update

There is no good news in the pre-election economic and fiscal update released today, says New Zealand First.

“No one takes the so-called fiscal surplus of $297 million seriously. It is purely for presentational purposes so the Government can claim it is in surplus,” says New Zealand First Leader Rt Hon Winston Peters.

“This so-called surplus is achieved by all sorts of manipulation and creative accounting – for example, understating the costs of the Christchurch rebuild, freezing departmental budgets and pushing expenditure out years.

“On employment no improvement is forecast. The growth forecast is also down from the Budget figure.

“The Government’s failure to rebalance the economy over the past six years is stark.

“What has been exposed in today’s Budget update is the underlying vulnerability of the New Zealand economy. The balance of payments is forecast to increase to 4.8 per cent of GDP in year to Match 2015 – due to worsening terms of trade.

“Thanks to National’s economic mismanagement, New Zealand could be in real trouble very quickly because we are already on thin ice.”

ENDS


© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Gordon Campbell: On The Mt Albert Aftermath

Personality politics – Jacinda is great! Jacinda is not so great! – have dominated the coverage of the Labour Party’s fortunes this week...

Still, this is a relatively new and welcome problem for the centre-left. Labour has seemed so bereft of crossover talent for so long that it seems almost embarrassed by this latest development. More>>

 

Conservation: Central Govt Takes Over 1080 Regulation

“This new approach standardises the rules for using such poisons rather than the current system of different rules in different regions. This change will reduce costs and delays for operators, ensure consistent conditions throughout the country, reduce mistakes from misunderstanding rule differences and allow best practice approaches to be used." More>>

ALSO:

Election Entertainments: ACT Has Prison Plan, Greens Have Water Bill

Green Party launches Member’s Bill to protect our freshwater The Green Party has today launched a member’s bill that will keep water from underground sources, called aquifers, safe from pollution and contamination. More>>

ALSO:

2040 Target And Lower Standards: “Swimmable” Rivers Five Times More Likely To Make You Sick

Forest & Bird has condemned the government’s new water quality standards, warning New Zealanders that they lock in current levels of water pollution and allow for a 5-fold increase in the chance of getting sick from swimming in a river. More>>

ALSO:

Immigration: Clampdown On Rogue Employers Good First Step

The Human Trafficking Research Coalition is pleased at the new clampdown on rouge employers who exploit migrants announced by Minister Woodhouse this morning, and believes this is a step in the right direction. More>>

ALSO:

Mayor: 750 New Social And Affordable Homes For Wellington (Over A Decade)

The next stage of Wellington’s Housing Upgrade Programme will see at least 750 new units of social and affordable housing built over the next decade, Mayor Justin Lester has announced. More>>

ALSO:

22/2: Christchurch Quake Memorial Unveiled

A city, a region, a nation and an international community impacted by the Canterbury Earthquakes will come together to mark the sixth anniversary of the deadly quake and dedicate Oi Manawa Canterbury Earthquake National Memorial. More>>

ALSO:


November Quakes:

Gordon Campbell: On The Mana-Maori Party Deal

If the self-interest involved wasn’t so blatant, the electorate deal between the Maori Party and Hone Harawira would be kind of poignant. It’s a bit like seeing the remaining members of Guns’n’Roses or the Eagles back on the road touring the nostalgia circuit… playing all the old hits of Maori unity and kaupapa Maori politics. More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
Parliament
Search Scoop  
 
 
Powered by Vodafone
NZ independent news