Gordon Campbell | Parliament TV | Parliament Today | News Video | Crime | Employers | Housing | Immigration | Legal | Local Govt. | Maori | Welfare | Unions | Youth | Search


Democrats Say NZ Economy 'Bollarded' Again

Democrats Say NZ Economy 'Bollarded' Again

The latest interest rate rise has been described as a 'barrier' which is how the dictionary defines a bollard.

The Democrats NZ Secretary, Trevor Crosbie, said in Hamilton today that it seems we are back in the 1990s era of brash action designed to smack over prosperity as soon as it rears its head.

"Increases in the local OCR will trigger increases in debt interest rates, which will flow through to the price NZ consumers pay for goods and services" said Mr. Crosbie "Of course there will be a short-term tendency for demand to be dampened in the economy, as people pay more for their mortgages etc, however, given the recent growing use of credit cards expect that sector to show a substantial increase in turnover (and profitability)"

"Once again the Reserve Bank reveals their focus is on containing any expectation of inflation rather than identifying the real driver behind the process of inflation" continued the Democrats Secretary "That driver (of inflation) and associated high tax levels, is the ongoing growth of compounding debt as the foundation of our economic and social infrastructure"

"The use of a non-inflationary debt free funding stream for establishing and rebuilding our national infrastructure, as proposed by the Democrats, would be a step toward eliminating the driver of inflation and also enable taxation to be substantially reduced" concluded Mr. Crosbie.

© Scoop Media

Parliament Headlines | Politics Headlines | Regional Headlines

Gordon Campbell: On The Peters/Ardern Triumph

There are a lot of good reasons to feel joyful about this outcome. It is what so many young voters – the best hope for the country’s future – wanted.

Far more important than the implications for the Economy Gods ( is the dollar up or down? ) last night’s outcome will also mean many, many vulnerable New Zealanders will have a better life over the next three years at least.

Yet the desire for change was in the majority, across the country..>>>More


Labour on its agreement |Peters: Post-Election Announcement Speech | Greenpeace “cautiously hopeful” about new Government | ACT - Madman on the loose | E tū ecstatic | Chamber welcomes the outcome | Greens on their joining Govt | EDS welcomes new govt | Immigrant groups worry | Feds ready to engage new coalition government | Labour Ministers of the Crown announced


Climate: Increasing Greenhouse Emissions Hit NZ

New Zealand is seeing impacts of excess greenhouse gas emissions in our climate and oceans, according to the latest national report from the Ministry for the Environment and Stats NZ about the state of the atmosphere and climate…More>>


Wellington.Scoop: Arrests At Blockade Of "Weapons Expo"

“We encourage people in Wellington to get down to the Westpac Stadium now for a day of awesome peace action. There will be plenty of food, music and activities to keep us sustained through the day.” More>>


Rorschach Restructuring: PSA Taking Inland Revenue To Court Over Psychometrics

The Public Service Association will be seeing Inland Revenue in Employment Court over its intention to psychometrically test employees reapplying for their roles at the department as part of its controversial Business Transformation restructuring plan. More>>


Nuclear Disarmament: Nobel Peace Prize 2017 Awarded To ICAN

Congratulations from iCAN Aotearoa New Zealand to international iCAN, the other iCAN national campaigns and partner organisations, and the countless organisations and individuals who have worked so hard for a nuclear weapons-free world since 1945. More>>


Expenses: Waikato DHB CEO Resigns

An independent inquiry has identified that Dr Murray had spent more than the agreed $25K allocated for relocation costs, and other unauthorized expenses involving potential financial breaches of the chief executive’s obligations. More>>


Wellington.Scoop: Sad About The Trolley Buses?

The Regional Council’s MetLink is today spending money to tell us that it really loves Wellington’s trolley buses, even though they’re all being taken off our roads by the end of this month. More>>


Post-Election: Preliminary Coalition Talks Begin

New Zealand First will hold post-election preliminary discussions in Wellington with the National Party tomorrow morning and the Labour Party tomorrow afternoon. More>>




Featured InfoPages

Opening the Election