Labour Govt At 6s And 7s Over High Dollar

Friday 16 Jan 2004 Rodney Hide Press Releases -- Economy

ACT New Zealand Finance Spokesman Rodney Hide today said that the Labour Government was at sixes and sevens over the high dollar.

"On 5 November last year, Deputy Prime Minister Michael Cullen told the Finance and Expenditure Select Committee that the Government was `not without options' to address the dollar's rise. He refused to elaborate and has since gone to ground," Mr Hide said.

"Today the Prime Minister has come out and said that `there is little the Government can do about the strong New Zealand dollar'.

"So how come her deputy was telling the country last year that he had options? What were they? And what has happened to them? Or was it just another case of the Finance Minister shooting his mouth off hoping that things would come right.

"Helen Clark might not be able to do much about the dollar, but there's much that she can do to help business and hard-working New Zealanders. Dropping taxes and cutting red tape would be two good places to start," Mr Hide said.

ENDS

For more information visit ACT online at http://www.act.org.nz or contact the ACT Parliamentary Office at act@parliament.govt.nz.

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