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

 


The high price of "success" National-style

Labour
2000 web site
Labour finance spokesperson Michael Cullen said it was absurd for the Treasurer to
claim increasing interest rates were simply a sign of the success of the National Party's economic policies.

Dr Cullen was commenting on the decision by the Reserve Bank in the November Monetary Policy Statement to raise the Official Cash Rate by 50 basis points.

"Last week Bill English claimed the closure of the Bendon factory was a sign of the Government's policies working. This week, he is claiming today's increase in the official interest rate is a sign of the Government's policies working.

"How many jobs do we have to lose and how high do interest rates have to go before Mr English claims the Government's policies are a total success?

"The real reason for this interest rates rise so early in the economic cycle is because of the very unbalanced nature of this economic recovery.

"That imbalance is a reflection of the National Party's neglect of the export sector and reliance on consumption-led growth fed by tax cuts," Dr Cullen said.

"Labour would remedy this by promoting higher savings through our Superannuation Fund and by growing the export base through our industry assistance package.

"Nine long years of National's blinkered commitment to "hands-off" management has cost the economy dear. It is time the unfortunate experiment was brought to an end. November 27 cannot come soon enough," Dr Cullen said.

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

 

Sector Opposes Bill: Local Government Bill Timeframe Extended

The Minister of Local Government Peseta Sam Lotu-Iiga has asked the Select Committee to extend the report back date for the Local Government Act 2002 Amendment Bill (No 2). More>>

ALSO:

Breed Laws Don’t Work: Vets On New National Dog Control Plan

It is pleasing therefore to see Louise Upston Associate Minister for Local Government calling for a comprehensive solution... However, relying on breed specific laws to manage dog aggression will not work. More>>

ALSO:

Not Waiting On Select Committee: Green Party Releases Medically-Assisted Dying Policy

“Adults with a terminal illness should have the right to choose a medically assisted death,” Green Party health spokesperson Kevin Hague said. “The Green Party does not support extending assisted dying to people who aren't terminally ill because we can’t be confident that this won't further marginalise the lives of people with disabilities." More>>

ALSO:

General Election Review: Changes To Electoral Act Introduced

More effective systems in polling places and earlier counting of advanced votes are on their way through proposed changes to our electoral laws, Justice Minister Amy Adams says. More>>

Gordon Campbell: On Our Posturing At The UN

In New York, Key basically took an old May 2 Washington Post article written by Barack Obama, recycled it back to the Americans, and still scored headlines here at home… We’ve had a double serving of this kind of comfort food. More>>

ALSO:

Treaty Settlements: Bills Delayed As NZ First Pulls Support

Ngāruahine, Te Atiawa and Taranaki are reeling today as they learnt that the third and final readings of each Iwi’s Historical Treaty Settlement Bills scheduled for this Friday, have been put in jeopardy by the actions of NZ First. More>>

ALSO:

Gordon Campbell: On The Damage De-Regulation Is Doing To Fisheries And Education, Plus Kate Tempest

Our faith in the benign workings of the market – and of the light-handed regulation that goes with it – has had a body count. Back in 1992, the free market friendly Health Safety and Employment Act gutted the labour inspectorate and turned forestry, mining and other workplace sites into death traps, long before the Pike River disaster. More>>

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
 
Parliament
Search Scoop  
 
 
Powered by Vodafone
NZ independent news