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


Bollard stops for a cuppa

27 January 2006

Bollard stops for a cuppa

“We can’t win with Bollard,” says John Pemberton, Democrat for social credit Finance Spokesman.

“Beneficiaries of all types cop abuse, with strong suggestions that they ‘get a job’. Yet now we have the lowest unemployment figures for decades, the Governor of the Reserve Bank shakes his finger and tells us that the economy is far too perky, and needs a wallop of rising interest rates to slow it down.”

The walloping, nine interest rate increases in two years, is designed to reduce strong domestic demand from all those newly employed people and, ironically, threatens a return to high unemployment, Pemberton explains.

“And so the boom/bust cycle continues. Dr. Bollard’s latest announcement of maintaining the OCR is a bit like David Lange stopping for his cuppa. Despite the “Supplementary Stabilisation Instrument Project” that the Government has set up, Bollard obviously has no answers to the conundrum that he faces.”

“The current Government must bitterly rue the demise of so many of our domestic industries, or their removal off shore, in the disastrous fallout of Rogernomics,” Pemberton continues. “Now, when our people are working and earning, they have little more than imported goods to spend their money on, increasing our current account deficit. Tinkering with interest rates alone will not change this.”

“Our economy needs a low interest rate environment to stimulate business growth and local production,” Pemberton says. “At the same time, we should apply a foreign transaction surcharge, to inhibit the artificial value created by speculation, restrict the flood of cheap imports from countries with dubious environmental and labour standards, and allow our exchange rate to reflect the true value of goods and services traded.”

“Exporters will get full value for their goods, and local industry will thrive. We could have a win-win instead of what we have now – a lose-lose for most people.”


© Scoop Media

Parliament Headlines | Politics Headlines | Regional Headlines


Also, Loan Interest: Productivity Commission On Tertiary Education

Key recommendations include better quality control; making it easier for students to transfer between courses; abolishing University Entrance; enabling tertiary institutions to own and control their assets; making it easier for new providers to enter the system; and facilitating more and faster innovation by tertiary education providers... More>>


Higher Payments: Wellington Regional Council Becomes A Living Wage Employer

Councillor Sue Kedgley said she was delighted that the Wellington Regional Council unanimously adopted her motion to become a Living Wage employer, making it the first regional council in New Zealand to do so. More>>


Scoop Images:
Dame Patsy Reddy Sworn In As Governor-General

This morning Dame Patsy Reddy was sworn in as the New Zealand Realm’s 21st Governor-General. The ceremony began with a pōwhiri to welcome Dame Patsy and her husband Sir David Gascoigne to Parliament. More>>


Ruataniwha: DOC, Hawke's Bay Council Developer Take Supreme Court Appeal

The Department of Conservation and Hawke's Bay Regional Investment Company (HBRIC) are appealing to the Supreme Court over a conservation land swap which the Court of Appeal halted. More>>


With NZ's Marama Davidson: Women’s Flotilla Leaves Sicily – Heading For Gaza

Women representing 13 countries spanning five continents began their journey yesterday on Zaytouna-Oliva to the shores of Gaza, which has been under blockade since 2007. On board are a Nobel Peace Laureate, three parliamentarians, a decorated US diplomat, journalists, an Olympic athlete, and a physician. A list of the women with their background can be found here. More>>

Gordon Campbell: On The Key Style Of Crisis Management

At Monday’s post Cabinet press conference Key was in his finest wide- eyed “Problem? What problem?” mode. No, there wasn’t really a problem that top MPI officials had been at odds with each other over the meaning of the fisheries policy and how that policy should be pursued... More>>


Mt Roskill: Greens Will Not Stand In Likely Post-Goff By-Election

“The Green Party’s priority is changing the Government in 2017, and as part of that we’ve decided that we won’t stand a candidate in the probable Mt Roskill by-election... This decision shows the Memorandum of Understanding between Labour and the Green Party is working." More>>


Get More From Scoop



Search Scoop  
Powered by Vodafone
NZ independent news