26 May 2004

$500 million of new economic growth initiatives may be threatened by National

Would National's future finance spokesperson, John Key, really obliterate the positive work this coalition government has done to promote economic growth?

Statements attributed to Mr Key in the Weekend Herald leave the clear impression that he would seriously threaten our social and economic development on ideological grounds, Progressive leader and Minister of Economic Development, Jim Anderton told Parliament today.

"I am surprised and also disappointed.

"In the past, National finance spokespeople were farmers or small business people. That is, they were practical people who understood through practical experience that realistic policies are required to assist New Zealand to compete in the global market place.

"Mr Key was a bond and currency trader in the 1980s and 1990s. He has no experience in real wealth creation.

"Unlike National, the Labour Progressive coalition government is fully committed to working together with business to support a comprehensive programme of economic development in order to raise the incomes of all New Zealanders.

"The $500 million GIF package of new initiatives will strengthen and deepen New Zealand's connections with the world economy. It will help New Zealand businesses produce world class, innovative, high value exports and develop our networks in global markets," Jim Anderton said.

Further details of the GIF package will be announced tomorrow, along with a summary of pre-announcements.

ENDS

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