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


Today's trade figures prove NZ living beyond means

Today's trade figures prove again, we're living beyond our means

Jim Anderton MP Wed Sep 8 1999

Jim Anderton
MPWe're still living beyond our means, spending more than we earn and Mrs Shipley's government is doing nothing to reverse the worsening trend between what we export and what we import,' said leader of the Alliance, Jim Anderton

He was reacting to the latest overseas merchandise trade data showing a deficit of $1.7 billion for the year ended July.

Despite a slight rise in the export trend, New Zealand's overall trade balance has been worsening since (June) 1997.

Today the Alliance launched its plan to deal directly with the huge balance of payments deficit. The balance of payments is the difference between the amount New Zealand earned overseas last year and the amount it spent. Merchandise trade figures are a component of balance of payments.

The Alliance is proposing a temporary 5% increase on tariffs on imports excluding Australian goods (which would affect only 17% of GDP) as a way of decreasing our reliance on imports until our balance of payments problem is under control.

'Top on the APEC agenda should be the disastrous effects of this kind of debt on the economies of the region.

'As hosts of APEC Mrs Shipley's government has an obligation to discuss the in-balance that exists between New Zealand and other APEC countries. Instead she's promoting further trade liberalisation that would further disadvantage New Zealand exports.

'At the moment APEC countries import far more into New Zealand than we export to them. The reason for that is simple: Mrs Shipley's government made sure that New Zealand bolted past the stable door on tariff reduction while other APEC countries were still enjoying their breakfast.'

A 5% increase on tariffs on imports, excluding Australia, would mean a modest price increase on those products affected (an imported $10 t-shirt for example would in future cost $10.50).

'This would allow us to deal directly with the balance of payments deficit and to stimulate import substitution industries, which the figures today prove once again, are not in New Zealand's favour.

'The Alliance policy would create jobs, encourage local industries and increase government revenue from decreased unemployment.

'All New Zealanders suffer from our burgeoning trade debt.

'The Alliance has a plan to reverse this trend,' said Jim Anderton.

© Scoop Media

Parliament Headlines | Politics Headlines | Regional Headlines

Passports And IDs Left Online: Privacy Breach On Tuia 250 Aplications

The Ministry for Culture and Heritage yesterday revealed it had mistakenly exposed the sensitive details of about 300 mostly young people online...

Technology commentator Paul Spain said while most of the information was gone from the internet, the question was who had accessed it while it was online.

"This could be a problem for them for months if not years to come because others are now able to impersonate them and they could do all sorts of things when they [can] pretend to be someone else." More>>


Cutting Tape, Rasing Super Age, Cutting Business Payment Times...: National's Economic Discussion Doc

National has today released its fourth Discussion Document, which focusses on the economy and outlines a range of policies that will help rebuild business confidence, Leader of the Opposition Simon Bridges says. More>>


NZ First Statement: Passing Of Pita Paraone

“On behalf of New Zealand First let me express our condolences to Pita’s wife, Elva, his three children and wider whānau,” said Mr Peters. “Northland and the people of New Zealand have lost a man who cared deeply for his people and country, and worked endlessly to make New Zealand a better country for us all.” More>>


Gordon Campbell: Why NZ Shouldn’t Try To Curry Favour With Trump

Dutifully, Denmark had lined up militarily alongside the US in Bosnia, Afghanistan, Syria and during the Iraq War. This means nothing. In a heartbeat, the current US President will trash any ally, and on the flimsiest of pretexts. More>>

Gordon Campbell: On The Commerce Commission Fuel Report

The interim Commerce Commission report on the fuel industry will do nothing to endear the major oil companies to the New Zealand public... More>>


Emergency Govt Bill: Overriding Local Licensing For The Rugby

“It’s pretty clear some clubs are having difficulty persuading their district licensing committees to grant a special licence to extend their hours for this obviously special event, and so it makes sense for Parliament to allow clubs to meet a community desire." More>>


Leaving Contract Early: KiwiBuild Programme Losing Another Top Boss

Ms O'Sullivan began a six-month contract as head of KiwiBuild Commercial in February, but the Housing Ministry has confirmed she has resigned and will depart a month early to take up a new job. More>>


Proposed National Policy Statement: Helping Our Cities Grow Up And Out

“We need a new approach to planning that allows our cities to grow up, especially in city centres and around transport connections. We also have to allow cities to expand in a way that protects our special heritage areas, the natural environment and highly productive land." More>>


Ombudsman's Report: Ngāpuhi Elder 'Shocked' By Conditions At Ngawha Prison

A prominent Ngāpuhi elder is shocked to find inmates at Ngawha Prison are denied water and forced to relieve themselves in the exercise yard... Chief Ombudsman Peter Boshier has released a report highly critical of conditions at the Northland prison. More>>





InfoPages News Channels