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

Gordon Campbell: On The Peters/Ardern Triumph

There are a lot of good reasons to feel joyful about this outcome. It is what so many young voters – the best hope for the country’s future – wanted.

Far more important than the implications for the Economy Gods ( is the dollar up or down? ) last night’s outcome will also mean many, many vulnerable New Zealanders will have a better life over the next three years at least.

Yet the desire for change was in the majority, across the country..>>>More


Labour on its agreement |Peters: Post-Election Announcement Speech | Greenpeace “cautiously hopeful” about new Government | ACT - Madman on the loose | E tū ecstatic | Chamber welcomes the outcome | Greens on their joining Govt | EDS welcomes new govt | Immigrant groups worry | Feds ready to engage new coalition government | Labour Ministers of the Crown announced


Climate: Increasing Greenhouse Emissions Hit NZ

New Zealand is seeing impacts of excess greenhouse gas emissions in our climate and oceans, according to the latest national report from the Ministry for the Environment and Stats NZ about the state of the atmosphere and climate…More>>


Wellington.Scoop: Arrests At Blockade Of "Weapons Expo"

“We encourage people in Wellington to get down to the Westpac Stadium now for a day of awesome peace action. There will be plenty of food, music and activities to keep us sustained through the day.” More>>


Rorschach Restructuring: PSA Taking Inland Revenue To Court Over Psychometrics

The Public Service Association will be seeing Inland Revenue in Employment Court over its intention to psychometrically test employees reapplying for their roles at the department as part of its controversial Business Transformation restructuring plan. More>>


Nuclear Disarmament: Nobel Peace Prize 2017 Awarded To ICAN

Congratulations from iCAN Aotearoa New Zealand to international iCAN, the other iCAN national campaigns and partner organisations, and the countless organisations and individuals who have worked so hard for a nuclear weapons-free world since 1945. More>>


Expenses: Waikato DHB CEO Resigns

An independent inquiry has identified that Dr Murray had spent more than the agreed $25K allocated for relocation costs, and other unauthorized expenses involving potential financial breaches of the chief executive’s obligations. More>>


Wellington.Scoop: Sad About The Trolley Buses?

The Regional Council’s MetLink is today spending money to tell us that it really loves Wellington’s trolley buses, even though they’re all being taken off our roads by the end of this month. More>>


Post-Election: Preliminary Coalition Talks Begin

New Zealand First will hold post-election preliminary discussions in Wellington with the National Party tomorrow morning and the Labour Party tomorrow afternoon. More>>




Featured InfoPages

Opening the Election