Economic plan more important now than ever

Labour Party finance spokesperson David Cunliffe says his thoughts are with dairy farmers and communities hit by today’s announcement of reduced payouts by Fonterra.

Economic events like this make it even more important that the Government provides details of its plan to see the country through the global recession.

"The forecast drop in payouts will take many millions of dollars out of our economy and in particular will hit our rural communities.

“Prime Minister John Key has called for a ‘jobs summit’, but New Zealand needs far more than that if we are to keep Kiwis in jobs.

“New Zealand is in a relatively strong economic position to ride out the recession, but only if the Government provides the coherent plan the country needs.

Mr Cunliffe said he hoped the Official Cash Rate announcement by the Reserve Bank tomorrow would provide the business and banking sectors with some much needed confidence.

However, he hoped the Government would also step in to provide some cross sector economic leadership.

“We need economic leadership that recognises the need to ensure the business, public service, farming and community organisations are focussed on looking at opportunities to move the economy forward.

“Right now we are seeing ad hoc policies on the economy and no real leadership from the National Government, New Zealand deserves better."

ENDS

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