Govt Must Set Out Plan To Restore Growth

Hon Sir Roger Douglas, ACT New Zealand

Friday, March 27 2009

ACT New Zealand Finance Spokesman Sir Roger Douglas today urged the Government to set out a clear action plan to restore the country to growth, following the release of GDP figures showing that the national economy contracted in the fourth quarter of 2008 by 0.9 percent.

"We are today poorer than we were 12 months ago," Sir Roger said.

"National appears to buying into the wrong advice that it has been receiving from Treasury and - more particularly - the Reserve Bank. It's time for all of us to realise the magnitude of our economic troubles.

"The only people who seem to be realising the full scale of our economic crisis are those actually experiencing it. Bureaucrats should be ashamed for complaining about small cuts in their numbers. They have some of the country's most secure jobs and are well paid. It's time the public sector to bore more of the burden of economic contraction. That's only fair.

"If you're in a hole, stop digging. We must stop blaming the US financial collapse for our problems. We've been in a recession longer, and there's little we can do to stop international markets affecting us.

"Where we DO have control is at home. Our economic growth has been dragged down by a parasitic and bloated Government. If we make our economy more productive, we will be able to move out of the recession and make New Zealand wealthy again.

"Don't buy the lies. Spending is no solution to a recession, and Government debt cannot be a solution to household debt.

"So long as the Government is wedded to monopoly delivery of social services, we will continue to plod along. Only by restoring control and choice to the individual can we increase productivity in social services. That means more operations, better education, and a sustainable welfare insurance programme. It is good for the ordinary person.

"We all know that monopolies are inefficient, so let's end monopolistic State services and rely on competition to drive the productivity we so desperately need to become wealthy," Sir Roger said.

ENDS

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