Scoop has an Ethical Paywall
Work smarter with a Pro licence Learn More

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

 

Four Out of Five Kiwi Workers Not Employed by Transnationals

Four Out of Five Kiwi Workers Aren’t Employed by Transnational Corporations

Chief Reporter

Business New Zealand said today (“Foreign Investment Essential For New Zealand”) that: “Today one in five New Zealanders works in a firm that is part-funded by FDI (Foreign Direct Investment)”.

Not so. The actual figure is lower than that and is lower than what it was in 2000.

And Business New Zealand is trying to gild the lily. What its press release does not say is that four out of five Kiwi workers do not work for transnational corporations (TNCs).

It does not say that the TNCs need us more than we need them (to make the exorbitant profits that they ship out of the country and don’t reinvest back into it).

It does not say that despite TNCs being such a dominant force in the NZ economy, they provide jobs for bugger all New Zealanders

Here is the relevant extract from CAFCA’s newly updated Key Facts.

Foreign investors are not great for employment – they only employ 17% of the workforce (down from 21% in 2000), despite owning a large proportion of the economy. Foreign ownership does not guarantee more jobs. In fact, it quite often adds to unemployment. TNCs have made tens of thousands jobless.

The full Key Facts complete with sources (meticulously researched and compiled by CAFCA’s Bill Rosenberg), can be read athttp://canterbury.cyberplace.co.nz/community/CAFCA/key-facts.html

They can also be viewed there as a striking set of graphs, as both a PDF and Powerpoint.


Advertisement - scroll to continue reading

Are you getting our free newsletter?

Subscribe to Scoop’s 'The Catch Up' our free weekly newsletter sent to your inbox every Monday with stories from across our network.

© Scoop Media

Advertisement - scroll to continue reading
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines


Gordon Campbell: On The US Opposition To Mortgage Interest Deductibility For Landlords


Should landlords be able to deduct the interest on the loans they take out to bankroll their property speculation? The US Senate Budget Committee and Bloomberg News don't think this is a good idea, for reasons set out below. Regardless, our coalition government has been burning through a ton of political capital by giving landlords a huge $2.9 billion tax break via interest deductibility, while still preaching the need for austerity to the disabled, and to everyone else...
More


 
 

Government: Concerns Conveyed To China Over Cyber Activity
Foreign Minister Winston Peters has confirmed New Zealand’s concerns about cyber activity have been conveyed directly to the Chinese Government. “The Prime Minister and Minister Collins have expressed concerns today about malicious cyber activity... More

ALSO:


Government: GDP Decline Reinforces Government’s Fiscal Plan

Declining GDP for the December quarter reinforces the importance of restoring fiscal discipline to public spending and driving more economic growth, Finance Minister Nicola Willis says... More

ALSO:


Government: Humanitarian Support For Gaza & West Bank

Winston Peters has announced NZ is providing a further $5M to respond to the extreme humanitarian need in Gaza and the West Bank. “The impact of the Israel-Hamas conflict on civilians is absolutely appalling," he said... More


Government: New High Court Judge Appointed

Judith Collins has announced the appointment of Wellington Barrister Jason Scott McHerron as a High Court Judge. Justice McHerron graduated from the University of Otago with a BA in English Literature in 1994 and an LLB in 1996... More

 
 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

InfoPages News Channels


 
 
 
 

Join Our Free Newsletter

Subscribe to Scoop’s 'The Catch Up' our free weekly newsletter sent to your inbox every Monday with stories from across our network.