17 December 2015

Economy not keeping pace under National’s watch

New Zealanders are worse off with economic growth per person going backwards over the first nine months of 2015, says Labour's Finance Spokesperson Grant Robertson.

“Per capita GDP still remains lower now than it was at the end of 2014. This shows many Kiwis are not getting ahead under this Government. It is why employment is falling and unemployment is rising.

“Although some headline figures in today's GDP numbers appear encouraging, the details show the economy is struggling to keep up with population growth.

“Real disposable income per person, which measures the purchasing power of New Zealanders, fell in the latest quarter by 0.2 per cent and is down 0.4 per cent for the year.
“The economy is meant to work for people, not the other way around. Along with unemployment at six per cent and rising, this emphasises the fact that this is a job-‘lite’ recovery.

“Growth in jobs and incomes are not meeting the needs of New Zealand workers or businesses. National's Plan A is clearly failing New Zealanders. Bill English has now admitted Plan B is needed, but the lack of urgency from the government is letting New Zealand down,” says Grant Robertson.

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