Scoop has an Ethical Paywall
Work smarter with a Pro licence Learn More
Parliament

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

 

Manufacturing contracts for first time in 7 years

Paul Goldsmith - Finance

16 August 2019


For the first time since 2012 New Zealand’s manufacturing sector has contracted, according to the Performance of Manufacturing Index (PMI), National’s Finance spokesperson Paul Goldsmith says.

“Of course there is some global uncertainty out there, but it doesn’t explain New Zealand’s economic slowdown. The manufacturing sector has been slowing for some time now.

“When Labour, NZ First and the Greens were in Opposition they declared a manufacturing crisis. The reality is that confidence in manufacturing is now much worse and the PMI is lower now than it was then.

“The IMF expects global growth to increase from 3.2 per cent this year to 3.5 per cent next year. Our terms of trade, which reflects the prices we receive for our exports relative to the prices we pay for our imports, is near historical highs. New Zealand should be booming.

“The Government has only made life more difficult for New Zealand businesses, in particular manufacturing firms.

“The Government keeps adding costs to businesses, it has created massive uncertainty with all its working groups and left-field decisions like the ban on new oil and gas exploration, and because it has demonstrated incompetence, most famously with KiwiBuild.

“National will restore confidence and revive our economy so that we can lift our aspirations, both in what we can earn and in what social challenges we can overcome.”

ends

Advertisement - scroll to continue reading

Are you getting our free newsletter?

Subscribe to Scoop’s 'The Catch Up' our free weekly newsletter sent to your inbox every Monday with stories from across our network.

© Scoop Media

Advertisement - scroll to continue reading
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines


Gordon Campbell: On The US Opposition To Mortgage Interest Deductibility For Landlords


Should landlords be able to deduct the interest on the loans they take out to bankroll their property speculation? The US Senate Budget Committee and Bloomberg News don't think this is a good idea, for reasons set out below. Regardless, our coalition government has been burning through a ton of political capital by giving landlords a huge $2.9 billion tax break via interest deductibility, while still preaching the need for austerity to the disabled, and to everyone else...
More


 
 

Government: Concerns Conveyed To China Over Cyber Activity
Foreign Minister Winston Peters has confirmed New Zealand’s concerns about cyber activity have been conveyed directly to the Chinese Government. “The Prime Minister and Minister Collins have expressed concerns today about malicious cyber activity... More

ALSO:


Government: GDP Decline Reinforces Government’s Fiscal Plan

Declining GDP for the December quarter reinforces the importance of restoring fiscal discipline to public spending and driving more economic growth, Finance Minister Nicola Willis says... More

ALSO:


Government: Humanitarian Support For Gaza & West Bank

Winston Peters has announced NZ is providing a further $5M to respond to the extreme humanitarian need in Gaza and the West Bank. “The impact of the Israel-Hamas conflict on civilians is absolutely appalling," he said... More


Government: New High Court Judge Appointed

Judith Collins has announced the appointment of Wellington Barrister Jason Scott McHerron as a High Court Judge. Justice McHerron graduated from the University of Otago with a BA in English Literature in 1994 and an LLB in 1996... More

 
 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

InfoPages News Channels


 
 
 
 

Join Our Free Newsletter

Subscribe to Scoop’s 'The Catch Up' our free weekly newsletter sent to your inbox every Monday with stories from across our network.