Common Currency Against New Zealand Interests

“A common currency for New Zealand and Australia would do nothing to help our farmers, and our exporters”, said New Zealand First Economic Development spokesman Doug Woolerton.

“John Key’s support of a common currency may be good for Mr Key and the National Party but it is not good for decent, hard working New Zealanders, and especially not good for our exporters and our farmers.

“A common currency would make us nothing more than an Australian state and the Reserve Bank of Australia is even less likely to develop the necessary monetary policy development tools to alleviate the problems a high dollar creates for our farmers and exporters than its New Zealand counterpart.

“New Zealand should take care of its own future and begin by amending the Reserve Bank Act to include export objectives – adapting the Australian currency is not in New Zealand’s best interests”, said Mr Woolerton.

ENDS

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