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

 


Federated Farmers keen to flesh out Labour’s policy detail

Federated Farmers keen to flesh out Labour’s policy detail

The Labour Party’s Monetary Policy announcement will provide plenty of material for the Federation to engage with the Party over.

“We may be swimming against the tide but there are elements in Labour’s Monetary Policy which has some merit,” says Bruce Wills, Federated Farmers President.

“Of course we are talking high-level and the devil will be in the detail, but I wish to first caution any party from assuming inflation has gone the way of Rinderpest. The moment you lose focus on inflation it will be back faster than a rat up a drainpipe.

“Giving the Reserve Bank the means to adjust universal KiwiSaver savings rates, as an alternative to raising interest rates, does genuinely strike us as innovative.

“We’re certainly not so quick to rush to judgement on such a policy as if it works, it could potentially boost savings while relieving pressure on both the Official Cash Rate and the Kiwi dollar.

“Whatever happens, it will need work to make sure it’s feasible, workable and equitable, given this policy could squeeze low and middle income earners.

“Federated Farmers is very happy to see that Labour will maintain the Reserve Bank’s independence and inflation target. We’re also pleased to see inflation in the non-tradable sector being fingered by Labour too.

“Even when running a surplus, what remains unanswered in Labour’s ‘monetary policy needs mates’ equation, is the pressing need for fiscal prudence. If imprudent government spending takes off to deliver on political deals then it will kneecap monetary policy.

“We need the next government to truly cut its cloth because it is our money being spent.

“Federated Farmers is sceptical about a Capital Gains Tax. Aside from becoming just another tax, a CGT hasn’t dropped the price of houses in Britain or Australia, which, incidentally, are regularly advertised for sale in Asian newspapers.

“We also detect a hardening of Labour’s position on foreign investment in farmland, despite there being no research on whether it is a problem or not. We are equally concerned with the government’s laissez-faire attitude and wrote last year to Ministers requesting research.

“Before we go soft or hard on foreign investment, should we not first have the data?

“A mistake here will do untold economic damage affecting every kiwi because there are billions of reasons to get foreign investment policies right and each reason is called a dollar. Especially with our exports cracking the $50 billion barrier in the year to March.

“We are further worried that the NZ Power initiative could increase costs on businesses while a stringent Emissions Trading Scheme in tandem with Resource Rentals, will put a Sword of Damocles over the productive sector’s head.

“Aside from the political digs that could easily be returned with interest, there are certainly aspects we’d like to get more detail on from Labour,” Mr Wills concluded.
Ends

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

2040 Target And Lower Standards: “Swimmable” Rivers Five Times More Likely To Make You Sick

Forest & Bird has condemned the government’s new water quality standards, warning New Zealanders that they lock in current levels of water pollution and allow for a 5-fold increase in the chance of getting sick from swimming in a river.

“Despite an explicit assurance from Minister Smith that the new water standards would provide for human and ecosystem health, he has failed to deliver on either of these things,” says Forest & Bird CEO Kevin Hague. More>>

 
 

Mayor: 750 New Social And Affordable Homes For Wellington

The next stage of Wellington’s Housing Upgrade Programme will see at least 750 new units of social and affordable housing built over the next decade, Mayor Justin Lester has announced. More>>

ALSO:

22/2: Christchurch Quake Memorial Unveiled

A city, a region, a nation and an international community impacted by the Canterbury Earthquakes will come together to mark the sixth anniversary of the deadly quake and dedicate Oi Manawa Canterbury Earthquake National Memorial. More>>

ALSO:


November Quakes:

Gordon Campbell: On The Mana-Maori Party Deal

If the self-interest involved wasn’t so blatant, the electorate deal between the Maori Party and Hone Harawira would be kind of poignant. It’s a bit like seeing the remaining members of Guns’n’Roses or the Eagles back on the road touring the nostalgia circuit… playing all the old hits of Maori unity and kaupapa Maori politics. More>>

ALSO:

Private Provision: First Social Bond To Focus On Mental Health

New Zealand’s first social bond will help around 1700 people with mental illness into work, Finance Minister Steven Joyce and Social Investment Minister Amy Adams say. More>>

ALSO:

Immigration: Short Reprieve For Nine Indian Students

A temporary hold on deportations of nine Indian students is a step in the right direction but the Government urgently needs to implement safeguards to stop further injustices to more international students, the Green Party says. More>>

EARLIER:


Megaupload Case: High Court Rules Dotcom, Co-Accused Eligible For Extradion

Internet entrepreneur Kim Dotcom and his three co-accused are eligible for extradition to the United States, New Zealand's High Court ruled... Justice Murray Gilbert upheld a decision by the District Court that there were grounds for Dotcom, Mathias Ortmann, Bram van der Kolk and Finn Batato to be extradited. More>>

ALSO:

PREVIOUSLY:

Port Hills Fire: Midday Update, Monday 20 February

• 9 homes destroyed
• 2 homes with partial damage. Damage includes things like cracked windows, heat damage.
• 3 properties with damage to other external structures e.g sheds or outbuildings More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
Politics
Search Scoop  
 
 
Powered by Vodafone
NZ independent news