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

 


HYEFU Dismal on Jobs

CTU Media Release

18 December 2012

HYEFU Dismal on Jobs

The Council of Trade Unions says that the half- yearly economic and fiscal update (HYEFU) is dismal on the jobs front.

Council of Trade Unions (CTU) Secretary Peter Conway said that the forecast is for unemployment to average just under 6 percent for the next 5 years.

“That is not a recovery”, says Peter Conway.

Economic management by the Government should not just be about achieving a surplus in 2015. The increase in petrol excise tax announced today just ahead of the HYEFU release is clearly designed to reach that surplus target and is further evidence that this is the sole focus of the Government.

“But a crucial measure of economic management is the availability of jobs. In New Zealand we have 175,000 people who are unemployed and 113,000 workers seeking additional hours. This needs to be the Government’s top priority for 2013”.

The forecast means that we will still have around 150,000 people out of work every year until 2018. And these forecasts have tended to understate unemployment levels rather than the reverse. We also note that although all countries have seen unemployment rise since the global financial crisis, New Zealand has gone from a top performer within the OECD in most of the last decade in relation to unemployment levels to be ranked 15th now. This is a sign that the New Zealand Government has simply not made jobs a priority. The tax changes in 2009 and 2010 which benefitted those on high incomes have also had a negative effect on tax revenue which could have been used to assist low income families and promote job opportunities.

Peter Conway said “high levels of unemployment are also predicted by Treasury to impact negatively on wage growth with nominal wage increases averaging only 2.5 percent over the forecast period.”

“The signs are not good in the HYEFU”, says Peter Conway. “The growth forecast from May this year has been scaled back. Transport costs for households and firms rise. The current account deficit spirals up. The reluctance to adopt policies that would stimulate job creation and lift economic performance means the Government will continue to focus on reducing Government expenditure as a percentage of GDP. The Government is also relying on up to $7 billion from asset sales in its budget projections”.

The HYEFU shows that the outlook for households for the next couple of years is negative.

The New Year resolutions for John Key and Bill English have to be ‘must do better on the jobs front’.

ENDS.

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Gordon Campbell:
On The Inquiry Into One Case Of Dirty Politics

Suddenly, we’re awash in inquiries and reviews. (It feels almost as if the Greens won the last election.) Caught out by the damning inquiry by SIS Inspector-General Cheryl Gwyn, the government’s response yesterday was utterly in character – it released two other major reports at the same time to try and distract public attention...

Inquiries are supposed to re-assure the public. What these inquiry outcomes share in common is a government culture of zero responsibility. More>>

IGIS: Statement On Early Report Release

As the Inspector-General stated at the release of the report yesterday morning, she is examining what steps to take over the early disclosure of information from the report... Ms Gwyn said that she was aware of Mr Goff's subsequent statements that he had disclosed some information concerning findings in the report. She will be seeking further information from Mr Goff and others. More>>

ALSO:

IGIS ON SIS:

 
 

Parliament Today:

Temporary Release Crackdown Continues: Corrections Review Of Phillip Smith Case

“The review by Corrections’ Chief Custodial Officer reveals that the plan for Smith’s series of temporary releases was overly ambitious and misinformed. He’s a highly manipulative and deceptive person who although technically eligible, should not have been considered for temporary release." More>>

ALSO:

White Ribbon Day: Govt Resumes Sexual Violence Trial Proceedings Work

Justice Minister Amy Adams has asked the Law Commission to resume work on proposals for better supporting victims of sexual violence through the criminal process. The Law Commission will revisit its previous work on alternative pre-trial and trial processes to identify options for improving complainants’ experience in court. More>>

ALSO:

"New Faces, Wise Heads": Andrew Little Announces New Labour Line Up

Labour Leader Andrew Little today announced a bold new caucus line up which brings forward new talent and draws on the party’s depth of experience. More>>

ALSO:

Gordon Campbell: On Rick Ellis As Te Papa’s New CEO

The recent appointment of former TVNZ boss Rick Ellis to head Te Papa has copped a fair bit of criticism. Much of it has been inspired by the suspicion that Ellis has been hired to pursue the same purely commercial goals as he did at TVNZ, while similarly neglecting the serious cultural side of his mandate. More>>

Passport Cancellation, Surveillance: Draft 'Foreign Fighters Legislation' Released

The final draft of the Countering Terrorist Fighters Legislation Bill contains proposals previously announced by Mr Key in a major national security speech earlier this month. More>>

ALSO:

Related

Joint Statement: Establishment Of NZ-China Strategic Partnership

At the invitation of Governor-General Lt Gen The Rt Hon Sir Jerry Mateparae and Prime Minister The Rt Hon John Key of New Zealand, President Xi Jinping of the People’s Republic of China made a state visit to New Zealand from 19 to 21 November 2014... More>>

ALSO:

Savings Targets: Health Procurement Plan Changes Direction

Next steps in implementing DHB shared services programme Health Minister Jonathan Coleman says the Government has agreed to explore a proposal put forward by DHBs to move implementation of the shared services programme to a DHB-owned vehicle. More>>

ALSO:

More on Health Policy:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
Politics
Search Scoop  
 
 
Powered by Vodafone
NZ independent news