Parliament

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

 

Sharp deterioration in BoP result

Labour
2000 web site
"The growing deterioration in New Zealand's external accounts virtually guarantees a credit downgrade post-election," Labour finance spokesperson Michael Cullen said today.

Dr Cullen was responding to the June balance of payments figures showing a $566 million increase in the current account deficit between the March and June quarters. The results reflected continued sluggishness in the export sector and strong import growth, especially in cars and consumption goods.

"The rating agencies have long been concerned about New Zealand's weak external position. There is little in this data to appease those concerns. Instead the evidence is of an unbalanced and uneven recovery," Dr Cullen said.

"What is needed is a stategy to relieve the economy's dependence on commodity production. Labour will provide this leadership through policies such as our industry assistance policy.

"Among other initiatives, this will include better resourcing for TradeNZ and the development of an export credit guarantee scheme. New Zealand is one of the very few major trading countries without such a facility," Dr Cullen said.



© Scoop Media

 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

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.

The meeting will take place in Paris on May 15, and will be co-chaired by New Zealand Prime Minister Jacinda Ardern and French President Emmanuel Macron. More>>

SCOOP COVERAGE: CHRISTCHURCH MOSQUES TERROR ATTACK

 

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>>

ALSO:

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>>

ALSO:

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>>

ALSO:

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>>

ALSO:

City Rail Link: Billion Dollar Cost Rise (And Preferred Bidder)

The revised cost envelope for completing the entire Auckland City Rail Link project now totals $4.419 billion. The revised cost has yet to be endorsed by the project’s sponsors (the Crown and Auckland Council). More>>

ALSO:

Meth Scare: Debt Write-Off For HNZ Meth Testing Evictions

People living in Housing New Zealand (HNZ) properties who were wrongly evicted because of flawed methamphetamine contamination policies will have their related debts with the Ministry of Social Development (MSD) written off. More>>

ALSO:

RNZ Report: Fears Grow For NZ Nurse Kidnapped In Syria

A New Zealand nurse working for the Red Cross was captured by Islamic State (IS) in Syria more than five years ago, and there are now public pleas for any information that could help bring her home. More>>

ALSO:

 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

InfoPages News Channels