25 November 2010 Media Statement

Labour’s economic pathway more progressive, more prudent

Labour’s new economic direction will drive growth and the creation of jobs while reducing net debt, Labour’s Finance spokesperson David Cunliffe said today,

Speaking at the Institute of Policy Studies at Victoria University of Wellington today, David Cunliffe said the world had changed, and Labour economic policy needed to change with it.

“The old pre-crash rules have gone,” David Cunliffe said. “It is time for a new approach.

“Labour’s new pathway will be both more active and progressive, but it will also accept the reality of tight fiscal constraints.

“The key to progress will be through building partnerships between government, business, iwi and communities to unlock opportunities and leverage assets,” David Cunliffe said. “There will be new opportunities for subsidiaries of state-owned enterprises.

David Cunliffe said it was important that Kiwis should own their own future, by improving savings and capital conditions throughout the economy.

“Of course, the real test in the end is whether everyday Kiwi families benefit. Labour is committed to helping Kiwis get ahead,” David Cunliffe said.

The full text of his speech is attached, and can be seen on his websites www.labour.org.nz or www.cunliffe.co.nz

ENDS

DC_fiscal_speech_VUW_FINAL.pdf

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