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


Farmers would lose much under Labour

Concern is rife in rural New Zealand about what would happen to interest rates if Labour and the Alliance formed the next Government.

Speaking from the Coromandel electorate today, National MP John Carter said the prospect of economic policy being tampered with and forcing interest rates up scares the life out of many farmers and rural people.

"Farmers have an appreciation of what the Government has done to help their cause. They realise that reducing costs across the economy has been hugely beneficial to the rural sector," said Mr Carter.

While Mr Carter makes his way down the North Island on his rural tour, fellow National MP Eric Roy and others are heading up the South Island.

Speaking from North Canterbury today, Mr Roy said farmers remember only too well the 15% interest rates of the late 1980s, under the last Labour Government.

"The message we've been getting is very clear. With product prices not all that great at the moment, it would only take a slight increase in interest rates to bring on huge casualties.

"Wool growers for example, who have also been severely affected by drought, are only holding on at the moment because interest rates are low," said Mr Roy.

He said a small hike in interest rates would make a significant difference to farmers' balance sheets. He pointed out that some dairy farmers are a million dollars in debt.

"Naturally, the Anderton factor scares them no end. Farmers realise the fundamental importance of this year's election. After all, a change of Government could pull some under," said Mr Roy.


© Scoop Media

Parliament Headlines | Politics Headlines | Regional Headlines


Remembrance: Anzac After Christchurch

A community group is creating The Sound of Peace, a crowdsourced soundscape that captures messages of peace from New Zealanders in their own voices and languages...

The Anzac Eve event, The Art of Remembrance with Kristin Darragh, is a concert and memorial service in the grounds of the historic St David’s Memorial Church in Uptown Auckland.

‘As we remember the lives lost in World War One, we remember the horrors of all wars, and the potential to reach out across the divides now to expand understanding and a sense of our shared humanity.’ More>>


NZ And France To Seek To End Use Of Social Media For Terrorism

New Zealand and France announced today that the two nations will bring together countries and tech companies in an attempt to bring to an end the ability to use social media to organise and promote terrorism and violent extremism, in the wake of the March 15 terrorist attacks in Christchurch New Zealand. More>>


Christchurch Attacks: Families Offered Option To Stay Permanently

Immigration New Zealand has created a special visa category for those directly impacted by the shootings at Al Noor Mosque and Linwood mosque, as well as their families. More>>


Auckland: Consent Granted For Queens Wharf Cruise Ship Upgrade

In its decision, released this afternoon, Auckland Council says that although the upgrade will have a "range of adverse effects on the environment, both during construction and operation", these can be managed to an "acceptable" level. More>>


Welfare: Access To Hardship Grants Hits Record High

Figures from the Ministry of Social Development for the March 2019 Quarter showed that hardship assistance grants increased by $48 million in the past year... They also showed the emergency housing grants went from $6.6m to $23m, and there were 70,000 extra requests for assistance for food. More>>


Gordon Campbell: On Scrapping The Capital Gains Tax

As PM Jacinda Arden said yesterday, there was no point in Labour bringing a proposal into the House that it didn’t have the votes to get passed. Looking back, maybe she always felt this outcome to be inevitable... More>>





InfoPages News Channels