Jim Anderton MP Fri Sep 24 1999

Alliance leader Jim Anderton says the GDP figures released today showing the economy shrank significantly between March and June are an election year disaster for National and Act.

'The economy has shrunk in three out of six quarters since Mrs Shipley became Prime Minister. She has been nothing short of a disaster,' Jim Anderton said.

'No government can be re-elected on dismal economic figures like this. Another three years of this kind of performance will bankrupt the country.

'Not only is the economy getting smaller when it desperately needs to grow, but they are blowing out our overseas deficit at the same time.

'The main reason the economy shrank was a marked drop in export earnings. The government has crucified the export sector with an unrealistic and extreme monetary policy.

'It's not only the Alliance which has been saying New Zealand's monetary policy is not working. Export businesses know it and the international finance community view it with dismay.

'The economy has taken a hit across a number of important sectors, especially agriculture and manufacturing which are supposed to be the backbone of the economy. Fishing, mining, energy, construction and business services have also been crushed.

'On Sunday Mrs Shipley will finally throw in the towel and announce an election date. It can't come soon enough. This government has to go.'

ENDS

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