Rt Hon Jenny Shipley
Leader of the Opposition Wednesday 5 July 2000

Government must come out of denial

The Government must stop denying its responsibility for the continuing slippage in economic confidence, Opposition Leader Jenny Shipley said today.

Mrs Shipley was addressing an audience of Dunedin business people in the first of a series of addresses this week in Dunedin, Hamilton and Auckland.

"Since inheriting a strong economy from National, the Government's attitudes and policies have forced business confidence to its lowest level since the 1987 sharemarket crash.

"For the first time since the 1991 recession, firms are now not just pessimistic about the economy generally, but about the outlook for their own firm. This is costing Kiwi families and the country as a whole.

"Clark and Cullen must stop blaming everyone other than themselves for squandering the robust economic position they inherited.

"While voters have a say every three years, international investors vote by the second and if they continue to lose confidence in the country, opportunities for New Zealanders will be lost and more of our brightest people will leave.

"International investors are taking fright. There is mounting coverage in the international media about the huge backward steps New Zealand is taking under this Government.

"We are at the peak in the economic cycle and we still have a net outflow of around 9000 in annual terms.

"Clark and Cullen must act now before more damage is done to New Zealand's future prospects," Mrs Shipley said.

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