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


Financial update confirms Government happy to just drift

Grant Robertson
MP for Wellington Central
Finance Spokesperson


23 August 2017

Financial update confirms Government happy to just drift

The Government accounts revealed in today’s Pre-Election Fiscal Update (PREFU) show a National Party drifting along as economic growth stalls and productivity stays flat, says Labour’s Finance spokesperson Grant Robertson.

“Growth in our economy is being propped up by rapid population increase and Kiwis working longer and longer hours. That is not sustainable. We can do better than this. We need a government that does more than drift along, but has the drive to lift productivity and wages.

“The Pre-Election Fiscal Update shows lower per person growth and lower productivity than expected over the next three years. Exports are static. In this year, Kiwis’ wages will not keep up with inflation. Overall, wages as a share of the economy are projected to fall. We are falling behind other countries; our unemployment rate is now higher than the UK and the US.

“Once again, while the top line numbers might look healthy, just below the surface this is an economy that is not sustainable and is not giving all Kiwis a fair share in prosperity.

“Labour’s plan for the economy is built around building decent jobs with higher wages. We know that the key to doing this is lifting the skills of our workforce, investing in research and innovation and supporting our cities and regions to grow.

“The update also shows National cutting $600m of capital investment this year, including a $200m cut to the City Rail Link. This shows a lack of commitment to the modern transport infrastructure required to allow our largest city to grow.

“With the housing sector forecast to stall, well below the numbers of new houses we need, and exports are falling as a share of the economy, National’s lack of a plan is laid out in black and white.

“Labour has been clear through our Budget Responsibility Rules and our Fiscal Plan that we will manage the economy responsibly, while making the investments that are urgently needed in health, housing, education and lifting children out of poverty.

“There is much to do to build a better New Zealand, and that must be our priority. Now is not the time for tax cuts that give hundreds of millions of dollars to the wealthiest New Zealanders,” says Grant Robertson.


© Scoop Media

Parliament Headlines | Politics Headlines | Regional Headlines

Gordon Campbell: On Another Reason To Loathe HR Departments (And On The Teachers Strike)

This morning’s news item about Police emergency call centre staff turning up for work while they’re sick – because they’re afraid their sick leave statistics will be used against them, and their jobs put in jeopardy – is not an isolated case...

Obviously, sick people shouldn’t be being treated by doctors and nurses who are themselves sick and potentially infectious. Similarly, Police emergency calls also need to be fielded by people who’re feeling alert, and on top of their game. More>>


MPs' Computers To Be Searched: Inquiry Into Leak On Simon Bridges' Expenses

An inquiry has been launched to find out who leaked the National Party's expenses to the media... Parliament's speaker, Trevor Mallard, said a Queen's Counsel would lead the inquiry with the help of an employment lawyer and also someone with forensic IT skills. More>>


Teachers Strike: Nationwide Rallies And Marches

Teachers and principals voted for a full day strike to be held on 15 August to send a strong message to the Government that the current collective agreement offers from the Ministry of Education would not fix the crisis in teaching. More>>


Wellington.Scoop: City Council Ends Its Support For Jackson’s Movie Museum

The Wellington City Council and the Movie Museum Limited have today announced a mutually-agreed parting of the ways for a joint project between the Council’s Convention Centre and TMML’s Movie Museum... Both parties remain optimistic for the future of their respective projects. More>>

Pay Equity: Historic Settlement For Education Support Workers

The New Zealand Educational Institute (NZEI) and the Ministry of Education today signed Terms of Settlement to address a pay equity claim for 329 support workers who work with very young children in early childhood and primary schools. More>>


Gordon Campbell: On The Stereotypes About Jacinda Ardern

Routinely, female politicians get depicted as either show ponies or battle axes, with little room for anything else in between. .. More>>

Weekend Interviews: "Discriminatory And Racist" Aussie Deportations

The former president of Australia’s Human Rights Commission Gillian Triggs says deportations have risen dramatically in Australia since 2014 when ministers and ministerial delegates were given the power to cancel visas - and half of those being deported are New Zealanders. "These are massive numbers, actually escalating dramatically."... More>>


Legal Challenge: Prisoner Has 9 Boxes Of Documents Seized

Human rights organisation People Against Prisons Aotearoa says a prisoner they advocate for has had 9 boxes of legal documents seized from him just days before his case against the Department of Corrections was to be heard. More>>

Single-Use Plastic Bags: Govt To Phase Them Out

Single-use plastic shopping bags will be phased out over the next year, Prime Minister Jacinda Ardern and Associate Environment Minister Eugenie Sage announced today. More>>





Featured InfoPages