Parliament

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

 

Govt takes economy from ‘rock star’ to ‘support act’

For years New Zealand’s ‘rock star’ economy has been the envy of the world, but according to Westpac, the Ardern-Peters Government is fast turning it into a ‘support act’ economy, National’s Finance Spokesperson Amy Adams says.

“This shocking turnaround should be a wake-up call to the Government and show Grant Robertson that growth cannot simply be taken as a given.

“Westpac further suggests that the New Zealand economy will ‘continue to underperform its peers for the next few years’ after previously being ‘an outperformer on the global stage’.

“This Government could not have hoped to have inherited a stronger economy, with annual GDP growth averaging around 4 per cent, accompanied with high levels of business confidence and around 10,000 new jobs being created each month.

“But under this Government, GDP per capita growth has fallen to just 0.1 per cent in the previous quarter.

“These early signs of economic slowdown reflect a combination of low business confidence and uncertainty in the Government’s policy agenda.

“Mr Robertson has continually claimed that business confidence has no relationship to the real economy. However, Westpac’s analysis suggests there are tangible effects in the form of lower economic growth and lower standards of living for New Zealanders.

“The new pessimistic economic outlook also appears to be an early reaction to the Government’s low-growth policies, like the ban on oil and gas exploration, removal of personal income tax cuts for all working New Zealanders, and regional fuel taxes.

“Mr Robertson is in serious danger of squandering all the hard work of New Zealand businesses and workers since the GFC. He must understand that growth is not inevitable.”



© Scoop Media

 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

SCOOP COVERAGE: CHRISTCHURCH MOSQUES TERROR ATTACK


Gordon Campbell: On Asking The Banks To Be Nicer To Farmers

Few would begrudge the idea that banks should be made to act more humanely – given the obscene profits that the Aussie banks are extracting annually from New Zealand, they can surely afford to cut some slack.

Yet the interesting background statistic is that farm debt in New Zealand has exploded by 270% in the last 20 years, to around $63 billion... More>>

 

Mosque Attacks: 21 Month Prison Sentence For Sharing Live Stream Video

A Christchurch man who admitted redistributing the livestream video of the mosque killings has been sentenced to 21 months in prison. More>>

ALSO:

Operation Burnham Inquiry: Afghan Villagers Pull Out

The Afghan villagers involved with the inquiry into Operation Burnham say they have lost faith in the process and will no longer take part. More>>

ALSO:

Child 'Uplifts': Children’s Commissioner To Conduct Review

“At the time of the attempted uplift from Hawke’s Bay Maternity Hospital at the beginning of May, our Office shared our views on the critical importance of the mother-child relationship, and the fact that this relationship is denied to too many Māori children”, says the Children’s Commissioner, Judge Andrew Becroft. More>>

ALSO:

Fluro Logo, Definitely Not Racism, Activist Judges: Act Has Conference

“Finally, New Zealanders will have the right to challenge bad laws in court. If the courts find that a law hasn’t been made in accordance with the basic principles of good lawmaking, it can be declared invalid." More>>

ALSO:

Money Found: Revised Offer For Teachers And Principals

PPTA and NZEI have recommended that revised offers from the Government to their members are ratified, Education Minister Chris Hipkins has announced. More>>

ALSO:

Discussion Doc: National's Primary Sector Plans

Today National has released our third discussion document, this one on the primary sector. It showcases our positive and innovative approach to what is the backbone of our economy, Leader of the National Party Simon Bridges says. More>>

ALSO:

 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

InfoPages News Channels