Parliament

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

 

Labour's economic policy - reheated again

Bill English MP National Party Finance Spokesman

15 October 2008

Labour's economic policy - reheated again

National Party Finance spokesman Bill English says Labour's attempts to re-cook the broken promise to return New Zealand to the top half of the OECD is desperate.

"National has great faith in Kiwis and the New Zealand economy, but under Labour we've slipped back two places to 22 out of 30 on the OECD ladder."

Mr English is referring to the announcement yesterday by Michael Cullen that it is Labour's policy to return New Zealand to the top half of the OECD.

"Back when Labour came to office, Helen Clark had a plan to do that within 10 years.

"Well, the decade is nearly up and we've been going backwards, despite the good economic climate. In fact, what we have been delivered is a decade of deficits. New Zealanders know that in rougher economic weather, the chance of Helen Clark delivering is precisely nil.

"Helen Clark's big on this sort of rhetoric, and there are similarities with the empty promise of a carbon neutral New Zealand."

Mr English says Dr Cullen needs to be honest with New Zealanders about where all the new money that Labour is promising is coming from.

"Yesterday, the Finance Minister adopted a watered down version of National's infrastructure plan. National's fully costed plan injects $300 million more than Labour in the first year, rising to $750 million more by 2014.

"When National announced this plan, Labour said it was 'reckless', 'gambling with the future', and would do 'serious damage'. Now, Dr Cullen's serving up this recipe because his own plan has delivered a legacy that amounts to a decade of deficits and a 50% increase in Crown debt.

"Just a few weeks ago, Helen Clark said it was 'hilarious' and said that borrowing at a time of international economic crisis was the last thing New Zealand should do. Labour now claims it is part of the solution to our problems.

"This totally inconsistent approach is cynical, lacks imagination, and shows Dr Cullen and Labour can't be trusted to follow through."

Mr English says Labour must not be allowed to get away with making a grab-bag of vague economic promises with no costings until after the election.

"Helen Clark is asking New Zealanders to write her the biggest blank cheque in our political history. She must lay out the impact of her spending spree and tell New Zealanders how much more debt she's taking on - because that is the right thing to do."

ENDS

© Scoop Media

 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Gordon Campbell: On Juggling Covid, And France’s Trump-like Populist


It is the age-old Covid problem. How to balance the needs for firms (and schools) to re-open against the need to protect public health. In the past, the balance has been struck by insisting that the best public health outcomes also deliver the best economic (and educational) outcomes. While that may still be objectively true, it is no longer a politically tenable position... More>>

RNZ: Prime Minister Jacinda Ardern announces Cabinet decision on Covid-19 alert levels


Northland will move to level 2 at 11.59pm on 19 October. Waikato will be held at level 3, to be reviewed on Friday. Auckland will remain in level 3 with current restrictions for another two weeks... More>>

ALSO:




 
 


Government: Red Tape Cut To Boost Housing Supply
First home buyers are set to benefit from changes to planning rules being advanced by the Government and the National Party that will enable more medium density housing and cut red tape that acts as a barrier to development... More>>

ALSO:

Economy: Inflation highest in over a decade
The consumers price index rose 2.2 percent in the September 2021 quarter, the biggest quarterly movement since a 2.3 percent rise in the December 2010 quarter, Stats NZ said today. Excluding quarters impacted by increases to GST rates, the September quarter movement was the highest since the June 1987 quarter... More>>

ALSO:


Government: New Zealand Increases Climate Aid Contribution

The Government is making a four-fold increase in the support it provides to countries most vulnerable to the climate emergency, Prime Minister Jacinda Ardern and Climate Change Minister James Shaw announced today... More>>



Pay Cheque To Pay Cheque: Half A Million New Zealanders Have No Savings
New findings from the Consumer NZ sentiment tracker found that 15% of New Zealanders had no savings, and a further 27% were anxious about their level of savings and would like to have more tucked away... More>>


Government: Mandatory Vaccination For Two Workforces

Large parts of two workforces critical to preventing the spread of COVID-19 will be required to be vaccinated, COVID-19 Response Minister Chris Hipkins said today. “Our education and health and disability workforces have done an incredible job throughout this pandemic to keep themselves and people safe,” Chris Hipkins said.... More>>


Green Party: Deeply Concerned Space Launches May Be Breaching Nuclear-free Laws

The Green Party is deeply concerned that space launches by Rocket Lab may be breaching nuclear-free laws, given our long-standing position as a signatory of the Nuclear Non-Proliferation Treaty... More>>


 
 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

InfoPages News Channels