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


Worst June trade deficit in 14 years

2000 web site
"The great Kiwi consumption splurge continues to put more pressure on our external accounts as imports boom while the export sector struggles to find its feet," Labour finance spokesperson Michael Cullen said today.

The latest trade figures were far worse than the markets were expecting and are expected to produce the first monthly June deficit in 14 years.

"On a quarterly basis, imports were $526 million higher than the June 1998 quarter. Big contributors to this were consumer goods, up $91 million over the same period last year, and cars which were up $209 million.

"The continuing imbalance in the economic recovery reflects the failure of policy over the last several years to strengthen, diversify and add value to New Zealand's export base and to achieve the transition from a commodity-based to a knowledge economy.

"Labour's concerns on that score are shared by the hi-tech giant Motorola, and may deter Motorola from establishing a facility here," Dr Cullen said.

Dr Cullen was referring to comments by Ron Nissen, Motorola Pacific vice president and general manager. Mr Nissen said he was concerned about how strongly New Zealand was focused on having "a significant presence in this whole information economy/knowledge-based business."

"It is an appalling commentary on nine years of National government that a company of this sort should have these doubts about New Zealand's commitment to a high technology, knowledge intensive future," Dr Cullen said.

© Scoop Media

Parliament Headlines | Politics Headlines | Regional Headlines

Gordon Campbell: On Malaysia Exposing Our Dodgy Policies On China

Last week, we all owed a vote of thanks to Malaysian PM Mahathir Mohamad for breaking with protocol during his bilateral meeting in Singapore with New Zealand PM Jacinda Ardern. Reportedly, Mahathir used the photo opportunity phase of the meeting – which usually involves just an exchange of smiles and pleasantries before the media is sent out of the room – to launch into matters of genuine substance.

By doing so, Mahathir usefully exposed how New Zealand is trying to make a virtue out of sitting on the fence over the South China Sea dispute. More>>


Climate Change: Top Academics Call On Government To Take Action

One hundred and fifty academics and researchers from around Aotearoa, including Dame Anne Salmond, Emeriti Professors and several Fellows of the Royal Society, have signed a strongly-worded open letter to the Government demanding bold and urgent action to tackle climate change. More>>


Teacher Qualifications, Class Sizes: Ten Year Plan For Early Learning

“Moving towards 100 percent qualified teachers in early childhood education centres and improving adult:child ratios are among some of the key proposals for change put forward by the sector and experts in the new draft ten year strategic plan for early learning,” Chris Hipkins said. More>>


Teacher Strikes: Meeting, March And Rally In Wellington

Throughout the Wellington region the NZEI rolling strikes entered their final day Friday. Thousands of teachers met in Wellington, Kapiti, Porirua and the Wairarapa. More>>


14/11: Two Years’ Progress Since The Kaikoura Earthquake

Mayor John Leggett said it was a day for reflection, but also a time to recognise the work by many people to support progress towards recovery made across Marlborough since November 2016. More>>


Pike River: Mine Drift Re-Entry Plan To Proceed

“I’ve decided the Te Kāhui Whakamana Rua Tekau Mā Iwa - Pike River Recovery Agency, recommended course of action to enter the drift, using the existing access tunnel, is by far the safest option,” said Andrew Little. More>>


Appointments: New High Commissioner To Australia Announced

“Dame Annette King needs no introduction given her long running career as a parliamentarian where she has previously held a number senior Cabinet portfolios, including Justice, Police and Health. She also was Parliament’s longest serving female MP with 30 years’ service,” said Mr Peters. More>>


Two Years Since Kaikoura: Silvia Cartwright To Lead Inquiry Into EQC

“The inquiry will be the first of its kind under the Public Inquiries Act 2013 and will have all the powers of a Royal Commission, be independent of Government and make its report directly to the Governor-General. More>>





InfoPages News Channels