Parliament

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

 

NZ economy slows, growth per person stalls

Amy Adams - Finance

20 December 2018

The economy appears to be slowing with today’s GDP figures showing economic growth in the past three months is the lowest in five years, National’s Finance spokesperson Amy Adams says.

“Economic growth in the past three months of 0.3 per cent doesn’t even compensate for population growth. Economic growth per person, which reflects population growth, actually declined in dollar terms over the past three months.

“Despite all the Government’s talk of wellbeing, that means New Zealanders are becoming worse off.

“While quarterly numbers can be volatile and need to be read with caution, these latest figures do suggest a general slowdown from the economy the Government inherited from National.

“These results will cause embarrassment to the Minister of Finance after he was too quick to boast about the previous quarter’s result, which now appears to be an outlier.

“Despite the economy slowing, the Labour-led Government is projected to take an extra $17.7 billion in tax from New Zealand families over the next four years than was projected under National. That amounts to $10,000 less in the back pockets of the average household.

“National believes New Zealanders deserve to keep more of what they earn. Unlike the Labour-led Government, we know that as a country we can’t tax our way to prosperity.

“New Zealand needs sensible and consistent economic policies that promote growth and reward hard work, as well as wise spending of taxpayer money.”

ends



© Scoop Media

 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

SCOOP COVERAGE: CHRISTCHURCH MOSQUES TERROR ATTACK


$1m Compensation Paid: First Gun Ban Event In Christchurch

The Police Minister says the first ever firearms collection event in Christchurch over the weekend was a huge success. But Stuart Nash had concerns about whether the participation reflected the number of weapons in the region.

More than 378 people handed in 542 guns and there was a mixed reaction from firearms owners. The total compensation cost amounted to $1,022,599... More>>

 

Friends Like These: Foreign Minister To Visit USA

Deputy Prime Minister and Foreign Affairs Minister Winston Peters will travel to Washington D.C. today for talks with senior members of the US Administration, and to attend the Ministerial to Advance Religious Freedom. More>>

ALSO:

Gordon Campbell: On The Aussie Banks’ Latest Fee Hike Excuse

When the Reserve Bank sought feedback on its plans to require the country’s major banks to raise their capital reserves then you might have expected the banks to whine and complain. And so they have. More>>

ALSO:

Sitting On Defence: Terms Of Reference For Defence Estate Review

“The 81,000 hectare Defence estate is at a crossroads; much of it is run down, and outdated,” says Ron Mark. “It needs to be improved in order to gain, train and retain our service people, now and into the future." More>>

ALSO:

Meng Foon: Retiring Gisborne Mayor To Be Race Relations Commissioner

Andrew Little: “He has an outstanding record as a relationship builder and walks comfortably in the pākehā world, the Māori world, the Chinese community and other communities making up New Zealand." More>>

ALSO:

NCEA: Students Granted Qualifications After Fees Scrapped

Almost 150,000 current and former students with unpaid NCEA fees have today been formally awarded their NCEA credits or qualifications. More>>

Medical Cannabis: Consultation On Regulations

More widespread access to medicinal cannabis products is a step closer today with the release of proposals for regulations says Minister of Health Dr David Clark. More>>

ALSO:

Surrendered Under Protection Order, Lost: Nine Firearms Held By Police Disappear

The Independent Police Conduct Authority has found multiple failings in respect of the disappearance of nine firearms which were held by Police in Auckland from 28 January 2017. More>>

ALSO:

Gordon Campbell: On New Zealand First’s Balancing Act

At this point, New Zealand First needs to more than double its current poll numbers to survive beyond Election Day, 2020… but that’s what Winston Peters is so very good at doing, once an election campaign begins in earnest... More>>

RNZ: Asbestos Court Victory Over ACC After Lung Cancer Death

The family of a woman who died of cancer caused by inhaling asbestos says their victory over ACC in the High Court is bittersweet. More>>

ALSO:

 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

InfoPages News Channels