8 July 2002

"Nothing announced in Labour's economic policy today addresses the fundamental problems preventing New Zealand's economy from growing at a higher sustainable rate," says National's Finance spokesman David Carter.

Mr Carter says with the economic golden weather coming to an end it is becoming increasingly clear that Labour is bereft of any ideas.

"During its term in Government Labour has done nothing to support business. In fact, it has done the opposite and imposed anti-growth polices such as increasing taxes, renationalising accident insurance, re-regulating the labour market, refusing to amend the RMA and ignoring the growing burden of business compliance costs.

"Labour's future proposals for the economy will do nothing to unlock New Zealand's growth potential.

"What's more remarkable about it is the lack of mention of its hidden agenda - which includes more new taxes, bureaucrats deciding that different jobs should be paid equally and new laws encouraging general strikes. "

Mr Carter says any changes to the Reserve Bank's inflation target can only mean higher inflation and higher interest rates - hardly the best way to encourage sustainable economic growth.

"Its obvious that Labour has run out of ideas on how to get our economy on the move and - if re-elected - will revert to type of a high tax and spend hidden agenda.

"This is in sharp contrast to National. We have developed a serious and substantial economic plan - including lower taxes and reducing compliance costs - aimed at securing higher, sustainable growth and a world-class economy for New Zealand.

"It is only by developing a world class economy, that we will be able to pay for the world class health and educations systems that all New Zealanders want," Mr Carter says.

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