Parliament

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

 

Business confidence lowest in a decade

Paul Goldsmith - Finance

2 July 2019

The NZIER quarterly survey of business opinion has fallen yet again to the lowest point in ten years because the Government has no plan to grow the economy, National’s Finance spokesperson Paul Goldsmith says.

“There has been a sharp decline in the New Zealand economy under this Government. Growth has decreased from 4 per cent down to 2.5 per cent, per-person growth is seventh worst in the OECD, jobs are in decline and business investment has fallen from 5 per cent a year under National to just 0.6 per cent under Labour.

“Business confidence is now as low as it was in the depths of the Global Financial Crisis. This means businesses are less likely to invest or hire new staff.

“Despite a historically high terms of trade and rising exports, Finance Minister Grant Robertson has repeatedly tried to blame the domestic slowdown on global conditions.

“The Minister of Finance needs to take responsibility for the role the Government’s policies have played in slowing New Zealand down, especially when Westpac stated last week that New Zealand’s economic slowdown can be ‘put down largely to domestic factors’.”

The Government has crippled investment by:

· introducing over 250 working groups including the prospect of a Capital Gains Tax;

· introducing more union-friendly industrial laws;

· banning new oil and gas exploration;

· stopping gold mining in Waihi; and

· wasting billions on failed policies like fees-free and Shane Jones’ slush fund



“The Government has failed to deliver on infrastructure. It hasn’t built a single new road, yet it has cancelled, delayed or gutted a dozen major transport projects.

“A strong economy is what pays for investment in health, education and infrastructure. This Government needs to stop taking economic growth for granted and dial back its anti-growth agenda, while getting on with delivering the infrastructure this country needs.”

ends

© Scoop Media

 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

SCOOP COVERAGE: CHRISTCHURCH MOSQUES TERROR ATTACK


Emission Statement: 'Consensus Reached' On Agriculture

Today the Government launched a consultation document, informed by the work of the Interim Climate Change Committee (ICCC), on how to bring agriculture into the emissions trading scheme, a key part of the Government’s plan to tackle climate change and reduce New Zealand’s emissions.

Agricultural emissions make up nearly half of New Zealand’s total emissions profile and are the largest contributor to greenhouse gas emissions in New Zealand. More>>

 

Gordon Campbell: On What’s Wrong With Wellington

For many Wellingtonians, it hasn’t been the normal hardships – the workings of central government and the lousy weather – that have recently pushed their tolerance into the red zone. It has been the inability of local government to maintain even the basics. More>>

ALSO:

$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>>

ALSO:

The Kids: Youth Parliament 2019 Event Kicks Off

120 Youth MPs and 20 Youth Press Gallery members have gathered in Wellington to attend the two-day Youth Parliament event ... 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>>

 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

InfoPages News Channels