Parliament

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

 

Recovery simply not happening under National

30 November 2010 Media Statement

Recovery simply not happening under National

National can provide nothing but bluster and bravado in the face of bleak predictions for economic recovery, says Labour’s Finance spokesperson David Cunliffe.

David Cunliffe said the New Zealand Institute of Economic Research (NZIER) Quarterly Predictions points to what it calls ‘wintry’ economic conditions this summer and a reversal of any economic recovery, and refuses to rule out a double dip recession.

“The NZIER report reflects much of what I have been hearing from businesses that tell me that 2010 has been much more difficult for them than 2009,” David Cunliffe said. “It is not just retailers saying that, but professionals and businesses in the construction industry. Housing consents have continued to fall over the past quarter and are now at their lowest point in over a year. Big business projects are on hold.

“Last month John Key responded to NZIER’s Survey of Business Opinion, showing the economy in reverse, by saying things would pick up in summer. His recipe for summer cheer is now being shown up for what it is --- meaningless and baseless bravado that is not being borne out by what’s actually happening.”

David Cunliffe said the best that can be taken from the latest NZIER report is that New Zealand businesses should be planning for a shallow economic recovery.

“Although a broader-based recovery is predicted from halfway through 2011, unemployment will remain high, savings are falling behind where they need to be, the current account deficit is forecast to blow back out to high levels, and business investment remains low.

“On top of that dark clouds remain on the international horizon, with obvious potential to dampen demand for our exports,” David Cunliffe said. “While occasionally surveys like yesterday’s National Bank report point to improving business confidence, the good intentions that businesses report are not being transformed into action.

“The Government, in fact, seems to bounce from survey to survey, with the only constant being its lack of a credible economic plan that New Zealanders can understand and get behind. There is a real risk that uncertainty will feed on itself unless there is a clear plan for jobs, investment and sustainable growth.

“That plan needs to put in place measures that underpin household saving and incentives for real business investment,” David Cunliffe said. “It needs to emphasise action and investment to encourage exports and innovation, and to promote partnerships to unlock opportunities for good jobs across regions and sectors."

ENDS

© Scoop Media

 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines


Gordon Campbell: On What Lessons The Greens Should Take From The Demise Of Winston Peters

Wondering about “if only" is one of those political games we all indulge in from time to time. For example: episode one of the latest season of The Good Fight TV series dropped us into a world where Hillary Clinton is the US President and Elizabeth Warren and Merrick Garland are Supreme Court justices, where rain forests are being saved and polar bears are coming back from extinction. Yet alarmingly, people keep on having these bad dreams about Donald Trump being the President... More>>

 

Gordon Campbell: On National Being Shafted By Its Own Creation

As it licks its wounds, let’s hope the National Party can still find time to look back with some pride at what it has achieved in Epsom. The Act Party’s nationwide success on Saturday night has been a tribute to National’s foresight, and to its ... More>>

ALSO:

Green Party: 'Fruitful Discussions ... Further Discussions To Have'

The Green Party says there is a negotiation going on with the Labour Party, but there are more discussions to be had. More>>

ALSO:


Border: No Changes To Border Exemptions After Fishing Crew Test Covid-19 Positive

The cases were detected after routine day three testing but the immigration minister and air commodore agree there's no need to change border exemptions. More>>

PSA: Labour-Led Government Has Mandate For Transformation, Equality And Transparency

The Public Service Association welcomes the progressive electoral landslide New Zealand voters delivered on Saturday, and the union says its members look forward to implementing policies that reduce poverty and inequality, support affordable housing ... More>>

ALSO:


Election: ParityBOT_NZ Processed Nearly 200,000 Tweets To Find And Fight Online Abuse Over The NZ Election

Auckland, New Zealand: Of the almost 200,000 tweets directed at women candidates that Areto Labs’ proprietary election Twitter bot, ParityBOT_NZ, processed over the New Zealand election period, nearly 4,000 were classified as toxic and triggered ... More>>

Stats NZ: New Report Shows Significant Changes To New Zealand’s Climate

Climate change is already happening in New Zealand and could have a profound impact on future generations of New Zealanders, a new report from the Ministry for the Environment and Stats NZ says. Our atmosphere and climate 2020 , released today, includes analysis ... More>>

ALSO:

Judith Collins: Obese People Must Take Responsibility For 'personal Choices'

National Party leader Judith Collins has described obesity as a weakness and says people should not 'blame systems for personal choices'. More>>

Māori Party: Poll Reveals Tamihere On Cusp Of Historic Māori Movement Election Victory

John Tamihere’s election campaign is on the rise and on track to return the Māori Party to parliament, a new Māori TV poll has revealed. The poll released on 11 October during the seventh and final Māori TV Maori Electoral campaign coverage has Tamihere ... More>>


 
 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

InfoPages News Channels