Parliament

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

 

Economic slowdown an opportunity to invest

Economic slowdown an opportunity to invest

The Government should be using the economic slowdown as an opportunity to invest to protect jobs and move to a smart, green economy, the Green Party said today.

Gross domestic product (GDP) data out today shows the economy is growing much slower than forecast, with quarterly GDP at 0.4 percent (compared to Treasury's Budget forecast of 0.7 percent) and annual GDP at 2.4 percent (compared to Treasury's Budget forecast of 3.3 percent).

“Growth is slower than forecast and the risk factors for future growth are increasing, yet the Government doesn’t have a plan to protect jobs or begin the economic transformation to a green economy,” said Green Party Co-leader James Shaw.

“National’s inaction will have a real cost – it’s called people’s jobs.

“Unemployment has remained persistently high under National’s economic management. National’s promise to get unemployment below five percent is looking increasingly improbable in light of today’s GDP data.

“The economic slowdown is the ideal opportunity for our Government to start investing in the green infrastructure needed to move the economy to a low carbon footprint and protect jobs.

“Any one of the following smart green investments would provide a significant stimulus and create jobs:

• Start the Auckland City Rail link now;

• Create a Green Investment Bank to speed private sector investment in cleantech infrastructure;

• Introduce new measures to stimulate tree planting, like a strong price signal on carbon;

• Increase the build of state houses, especially in places like Auckland;

• Build a network of safe walking and cycleways to our schools.

“Never has there been a time like this when the cost of capital has been so cheap, giving us the perfect opportunity to invest in the infrastructure that underpins a low carbon economy,” said Mr Shaw.

ENDS

© Scoop Media

 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines


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 ability to pick winners. Others would have looked at the dying remnants of the old Act Party and written it off. Yet National needed an MMP partner and it saw the potential where no-one else did. And so it re-grew the Act Party in a petri dish in Epsom, and carefully nurtured it back to life... More>>

 

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:

Poll: Labour On 46%, National 31%, While Greens And ACT Both On 8%

Tonight's political poll puts Labour on 46 percent and National on 31 percent with just one day remaining until election day. More>>

ALSO:


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>>

Gordon Campbell: On Four-Year Terms Of Parliament, And On How The US Courts Are Dismantling Democracy

Last week, the issue of four-year parliamentary terms surfaced again. Infuriatingly, it is being discussed purely in terms of its convenience for political parties. They’d get so much more time to enact their policies, free of scrutiny or sanction by voters ... More>>

ALSO:

 
 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

InfoPages News Channels