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


Moody’s praises National legacy now being eroded

Moody’s praises National legacy now being eroded

It is good news for the New Zealand economy that Moody’s Investors’ Service has affirmed our Aaa rating but we shouldn’t let the Government now waste it, National’s Finance spokesperson Amy Adams says.

“The recent international credit rating agency report praises the strength of an economy built up under nine years of a National Government.

“In Moody’s own words: it notes how New Zealand’s fiscal metrics ‘improved swiftly in the aftermath of the 2008 recession and the 2011 Canterbury earthquake; they continued to improve through the downturn in commodity prices from 2014-2016 and the Kaikoura earthquake in late 2016.’

“That New Zealand survived both economic and natural challenges and was still able to emerge stronger is testament to National’s stable hand in Government

“Moody’s also praised National’s debt reduction, pointing out that ‘the central government's gross debt fell to 26.5 per cent of GDP in 2017 from a recent peak at 31.3 per cent in 2012.’

“Economists have already cut their forecasts for Government surpluses in coming years because of the likelihood the Government will need more revenue than it expects to fund its wasteful and largely unquantified spending plans.

“National built up strong economic foundations for New Zealand which are now at risk of being torn down, undoing all the good words Moody’s have today praised.

“The Government’s employment policy will undermine the strength of New Zealand’s labour force and make it less flexible at a time when great change is being demanded of employers in a global market.

“It has already damped enthusiasm for New Zealand as an export destination, turning away the vast investment appetite of global capital right now.

“It also decided to impose a fuel tax just as global crude prices were rising, hitting Kiwis at the petrol pump and its ban on oil and gas exploration ensures New Zealand will be a net importer of fossil fuels products, with all the cost that implies, for the foreseeable future.

“It is far easier to spend wealth than create it. National wants all New Zealanders to have the opportunity to accumulate wealth.

“Low-quality spending such as we’ve seen from this Government with its working groups, slush funds and massive but unsuccessful student bribe shows how quickly gains can be eroded.”

© Scoop Media

Parliament Headlines | Politics Headlines | Regional Headlines

Gordon Campbell: On The Political Donations Scandals

Even paranoids have real enemies. While there has been something delusionary about the way New Zealand First has been living in denial about its donations scandal, one can sympathise with its indignation about Paula Bennett and Simon Bridges being among its chief accusers. Given that the National Party is enmeshed in a donation scandal of its own that shares the same core features, it is a bit like Al Capone being accused of wrongdoing by Bonnie and Clyde. Unfortunately, the entire country seems to be living in denial about the existence of these sort of shenanigans... More>>

First Published on Werewolf here


UN Expert: NZ Housing Crisis Requires Bold Human Rights Response

This is a press statement from UN Special Rapporteur on the right to housing at the end of her 10-day visit to New Zealand. The Government of New Zealand has recognized that the country is facing a housing crisis, said Leilani Farha, UN Special Rapporteur ... More>>


Water Woes: Wellington Reflects National Problem

Water utilities right across the country face major challenges to upgrade and maintain their underground three waters network. Water New Zealand’s Technical Manager, Noel Roberts says Wellington’s waste water woes are not unique to the capital city... More>>


2020 And Beyond: National’s Economic Plan

National Leader Simon Bridges has today outlined National’s economic plan heading into election 2020. “National understands the economy and how it impacts on New Zealanders day to day lives... More>>


Abortion Legislation Committee: Abortion Bill Report Presented To The House

The Abortion Legislation Committee has presented its report on the Abortion Legislation Bill to the House. A copy of the report is available here. The bill seeks to have abortion services provided like other health services... More>>






InfoPages News Channels