Parliament

Gordon Campbell | Parliament TV | Parliament Today | Video | Questions Of the Day | Search

 

Cullen on Moody’s report

1 December 2004

Cullen on Moody’s report

Finance Minister Michael Cullen has welcomed the latest analysis of the New Zealand economy by Moody’s ratings agency, saying it represents a significant endorsement of the government’s economic and fiscal management.

He was commenting on Moody’s statement that: New Zealand’s stable political environment, which has resulted in an institutional framework that consistently produces disciplined fiscal and monetary policies, is an important element in the Aaa ratings assigned by Moody’s to the country and its government.

“But the report also contains a caution for those parties which would introduce substantial tax cuts and/or spending increases.

“Moody’s notes that its judgement in confirming the Aaa rating is based on the expectation that government debt – barring temporary downturns in revenue due to external shocks – will not rise above current levels,” Dr Cullen said.

“This is consistent with the message of the OECD in a commentary on New Zealand released yesterday stating that additional fiscal stimulus at this point in the cycle would be unhelpful and would anyway need to be offset by higher interest rates in order to bring the economy back on to a sustainable growth path.”

ENDS


© Scoop Media

 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines


Gordon Campbell: On National Being Shafted By Its Own Creation

As it licks its wounds, let’s hope the National Party can still find time to look back with some pride at what it has achieved in Epsom. The Act Party’s nationwide success on Saturday night has been a tribute to National’s foresight, and to its ability to pick winners. Others would have looked at the dying remnants of the old Act Party and written it off. Yet National needed an MMP partner and it saw the potential where no-one else did. And so it re-grew the Act Party in a petri dish in Epsom, and carefully nurtured it back to life... More>>

 


Border: No Changes To Border Exemptions After Fishing Crew Test Covid-19 Positive

The cases were detected after routine day three testing but the immigration minister and air commodore agree there's no need to change border exemptions. More>>

PSA: Labour-Led Government Has Mandate For Transformation, Equality And Transparency

The Public Service Association welcomes the progressive electoral landslide New Zealand voters delivered on Saturday, and the union says its members look forward to implementing policies that reduce poverty and inequality, support affordable housing ... More>>

ALSO:

Poll: Labour On 46%, National 31%, While Greens And ACT Both On 8%

Tonight's political poll puts Labour on 46 percent and National on 31 percent with just one day remaining until election day. More>>

ALSO:

NZ First: Winston Peters Returns To Tauranga In Final Campaign Sprint

NZ First leader Winston Peters is on the final campaign sprint after a marathon tour of the whole country as he fights for his political survival, writes Jo Moir. More>>

ALSO:


Stats NZ: New Report Shows Significant Changes To New Zealand’s Climate

Climate change is already happening in New Zealand and could have a profound impact on future generations of New Zealanders, a new report from the Ministry for the Environment and Stats NZ says. Our atmosphere and climate 2020 , released today, includes analysis ... More>>

ALSO:

Judith Collins: Obese People Must Take Responsibility For 'personal Choices'

National Party leader Judith Collins has described obesity as a weakness and says people should not 'blame systems for personal choices'. More>>

Māori Party: Poll Reveals Tamihere On Cusp Of Historic Māori Movement Election Victory

John Tamihere’s election campaign is on the rise and on track to return the Māori Party to parliament, a new Māori TV poll has revealed. The poll released on 11 October during the seventh and final Māori TV Maori Electoral campaign coverage has Tamihere ... More>>

Gordon Campbell: On Four-Year Terms Of Parliament, And On How The US Courts Are Dismantling Democracy

Last week, the issue of four-year parliamentary terms surfaced again. Infuriatingly, it is being discussed purely in terms of its convenience for political parties. They’d get so much more time to enact their policies, free of scrutiny or sanction by voters ... More>>

ALSO:

 
 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

InfoPages News Channels