Bill English MP
National Party Finance Spokesman

3 November 2008

Labour's 'promise and hope' plan no good for jobs

Wage and employment figures out today underline the need for a well-structured plan for growing the economy rather than the uncosted "promise and hope" approach touted by Labour.

National Party Finance spokesman Bill English says while the Labour Cost Index and Quarterly Employment Survey release today show wages are up, this is yesterday's news. The most recent survey of business outlook showed a sharp deterioration to the lowest levels of confidence in 20 years.

"Of more concern are the signs that jobs are shrinking with just over 10,000 fewer jobs in the economy. This is part of a trend that was developing long before the current global turmoil."

In May this year, when the largest quarterly decline in employment in a decade was recorded, Labour said the increase in unemployment was 'not bad news at all actually'.

"This is despite senior economists describing the figures as 'very grim' and 'an absolute shocker'.

"Labour cannot be taken seriously. Facing tight times, when every dollar will count, they're promising anything and everything except details on how they'll pay for these promises. They're asking voters to sign a blank cheque.

"The only job losses Labour appear to be worried about are their own."

ENDS

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