Parliament

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

 

Further evidence of weakening economic outlook

Amy Adams - Finance

13 February 2018

The Reserve Bank has added to the body of evidence that the New Zealand economy is losing momentum under this Government’s anti-growth policies, National’s Finance spokesperson Amy Adams says.

“The Government is taxing Kiwis more, driving up the cost of living, wasting billions of dollars on failed policies and working groups, and is reducing flexibility in the labour market. It has banned oil and gas exploration and discouraged foreign investors from bringing their capital here.

“That’s a recipe for a slower economy, meaning fewer jobs and fewer opportunities for New Zealanders to get ahead. The Government expects to take $17.7 billion more in tax over the next four years than was forecast under National, which means less money in the pockets of hard-working Kiwis.

“Forecast growth has either stalled or been downgraded in every quarter for the next three years. The central bank’s reality check on growth comes just 24 hours after the Prime Minister gushed that the economy ‘is performing above expectations’.

“Most economists have already reduced their growth forecasts and the Government now looks like an outlier for sticking with its rosy predictions. Wishful thinking can’t hide the fact that New Zealanders will be worse off than they would have been under National.

“Economic growth averaged more than 3.5 per cent in the last three years under National. This Government is mistaken in thinking it can maintain that momentum and lift productivity by taxing more or that a Capital Gains Tax is the answer to a multitude of problems.

“National favours sensible economic policies that encourage growth and investment, keep the cost of living as low as possible and let New Zealanders retain more of what they earn. That’s the best way to ensure more jobs are created and that all our communities can prosper.”

ends

© Scoop Media

 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Commerce Commission: Retail Fuel "Not As Competitive As It Could Be"

The Commission has outlined some options it considers could improve competition. There are two broad sets of options it thinks may have the potential to help create a competitive wholesale market. These are:

• Greater contractual freedom to make it easier for resellers to switch between suppliers; and
• Enabling wider participation in the majors’ joint infrastructure, notably the shared terminals and supporting logistics involved in their borrow-and-loan system.
Further options, including improving the transparency of premium petrol prices, are discussed in the draft report. More>>

 

Promises: Independent Election Policy Costing Unit A Step Closer

The creation of an entity to provide political parties with independent and non-partisan policy costings is a step closer today, according to Finance Minister Grant Robertson and Associate Finance Minister James Shaw. More>>

ALSO:

School's In: Primary And Intermediate Principals Accept New Offer

Primary and intermediate school principals have voted to accept a new settlement from the Ministry of Education, which includes entrenched pay parity with secondary principals. More>>

ALSO:

IPCA On 'Rawshark' Investigation: Multiple Police Failings In Hager Searches Confirmed

The Independent Police Conduct Authority has found that the Police's unlawful search of Nicky Hager's property in October 2014 resulted from an unwitting neglect of duty and did not amount to misconduct by any individual officer... More>>

ALSO:

Broadcasting Standards: Decisions On Coverage Of Mosque Attacks

The Authority upheld one of these complaints, finding that the use of extensive excerpts from the alleged attacker’s livestream video on Sky News New Zealand had the potential to cause significant distress to audiences in New Zealand, and particularly to the family and friends of victims, and the wider Muslim community. More>>

PM's Post-Cab: Bad Mail

Cabinet was updated on the process around prisoners sending mail, following the accused Christchurch gunman sending letters that "should have been stopped". All mail of "high concern prisoners" will now be checked by a specialist team and a changes to the legal criteria for witholding mail are expecting to go to a cabinet committee in this parliamentary session. More>>

Welfare: Ongoing Drug-Test Sanctions Contradicts Govt’s Rhetoric

Reports that two-thirds of beneficiaries who fail drug tests are still having their benefit sanctioned contradicts the Government’s so-called health approach to drugs. More>>

ALSO:

Welfare: More Measures To Help Those Facing Homelessness

Ministers have announced $54 million in Government funding for initiatives which will support at-risk individuals and whānau to stay in their existing tenancies. The funding will also provide additional wrap around services. More>>

ALSO:

Corrections: New Strategy On Māori Reoffending And imprisonment

Authentic co-design with Māori, incorporating a Te Ao Māori worldview, and greater connectedness with whānau are key elements of Hōkai Rangi, Corrections’ new departmental strategy designed to address the long-term challenge of Māori reoffending and imprisonment. More>>

ALSO:

 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

InfoPages News Channels