Parliament

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

 

Trade Deficit Disaster For National

25 June 1999

Trade Deficit Disaster For National

On the eve of the APEC Trade Ministers' Conference New Zealand's trading situation has spun out of control.

Statistics New Zealand announced today the trade deficit for the year to May was $1.516 billion, the worst in New Zealand's history, eclipsing all previous deficits.

The May deficit caps off a dramatic five year decline in New Zealand's overseas merchandise trade situation which has seen five consecutive deficits follow three good surpluses.

"The trade situation is clearly out of control," said Green Party MP Rod Donald. It's time for the Government to take decisive action instead of sitting on its hands. We need to reduce our dependence on imports because [International Trade Minister] Lockwood Smith's so-called export-led recovery is a myth.

"The widening gap between imports and exports has been caused by the Government's free trade policies.

"According to Statistics NZ the leading contributors to the growth in imports are cars and household consumption goods. These trends follow the Government axing tariffs on car imports and slashing tariffs on clothing and footwear.

"Not only has the Government's free trade policies put tens of thousands of New Zealanders out of work, it has made our economy extremely vulnerable.

"What will it take for the Government to face up to this situation? Hopefully these trade figures will cause visiting trade ministers to examine more closely the hype coming from the National Government about its economic management.

"Clearly the appalling reality of our trade situation makes a lie of the Government's free trade ideology," Rod Donald said.



© Scoop Media

 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

SCOOP COVERAGE: CHRISTCHURCH MOSQUES TERROR ATTACK


Gordon Campbell: On Reforming Parliament’s Toxic Culture

It would be nice to think Parliament was a forum where rationality ruled – and where policies are raised and evaluated in terms of their contribution to the greater good. Obviously, it isn’t like that... More>>

Historic Assualt Allegation: Parliamentary Service Staff Member Stood Down
Rt Hon Trevor Mallard said today: “I do not want to cut across any employment or possible police investigations, but I am satisfied that the Parliamentary Service has removed a threat to the safety of women working in the Parliamentary complex." More>>


 

Fatal 2018 Crash: Police Officer Should Not Have Engaged In Pursuit

The Independent Police Conduct Authority has found that a Police officer should not have tried to stop or pursue a car thought to contain young people in Palmerston North on 28 May 2018. More>>

ALSO:

New Poverty Targets: Goals Overlook 174000 Children In Worst Poverty

Child Poverty Action Group is pleased to see the Government set ambitious 10-year targets for child poverty reduction, but we are disappointed not to see a target set for improving thousands of young lives where the worst of poverty is found. More>>

ALSO:

Study: Guidelines Needed To Avoid Risks In Government AI

New Zealand is a world leader in government algorithm use – but measures are needed to guard against their dangers. This is the conclusion of a New Zealand Law Foundation-funded report from the University of Otago’s Artificial Intelligence and Law in New Zealand Project. More>>

ALSO:

Pike River: Families Welcome Opening Of Drift

The group representing 29 of the Pike River Families - the Pike River Family Reference Group - has welcomed the unsealing of the mine at a private family event this morning... More>>

ALSO:

Auckland Harbour Bridge: New Design For Walking And Cycling Crossing

The NZ Transport Agency has released plans for its preferred option for a shared path over the Auckland Harbour Bridge which will transform walking and cycling not only across the harbour, but throughout the city. The Transport Agency says its preferred ... More>>

ALSO:

Wellington:

Shaw First Reading Speech: Climate Change Response Bill

Madam Speaker, today we begin the task of amending the Climate Change Response Act [2002], to fulfil the commitment that we have made, as a country, to limit global warming to no more than 1.5 degrees Celsius above pre-industrial levels. More>>

ALSO:

Housing: More Unsold Kiwibuild Houses Bought By Govt

The Crown underwrite for unsold Kiwibuild homes has been triggered for a second time. Now lack of sales in Mike Greer's development in Canterbury and Auckland means the government has had to buy back seven more homes. More>>

ALSO:

 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

InfoPages News Channels