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Mediocre PREFU bad for National, Worse for Labour

The Pre-election opening of the books has shown that it is bad news for National, and even worse for Labour leading up to the election, according to New Zealand First Leader Winston Peters.

“National go into an election with very sluggish growth, continued high unemployment and rising interest rates. That is all bad news for households, and reflects the insipid economic management that National have adopted. It will not be a very merry Christmas for households.

“It is worse for Labour. National have left a paltry $150million surplus, and in a slight of hand, have had to empty the contingency funds to achieve that. There is now nothing in the kitty for Labour to deliver its promised 158 New Government agencies, 13 new ministries and hold its 96 Inquiries should they be part of a Government after the Election.

“The export base is still very sluggish. What economic growth there has been is restricted to the financial sector—this does not bode well for immediate employment growth.

“There are no stand-outs in this package, there is no section of the economy could be said to be doing better than mediocre.

“The economy has been allowed to drift into a malaise, and current economic policy is clearly not delivering growth, jobs or prosperity. It is time for a change in our direction and time for wise economic management of the economy, New Zealand First plans to do just that,” concluded Mr Peters.

Ends

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