Parliament

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

 

Slow-growth policies undermining financial stability

The Government’s slow-growth policies are undermining New Zealand’s financial stability, National’s Finance spokesperson Paul Goldsmith says.

“Slower growth is contributing to the need for lower interest rates, and as the Reserve Bank makes clear today, lower interest rates risk fuelling asset price bubbles.

“The Reserve Bank has warned today in its Financial Stability Report that low interest rates, which are designed to stimulate a slow economy, may reignite risky house borrowing and investors may seek out riskier investments in search for yield.

“Under this Government, GDP growth has fallen to just 2.1 per cent a year, per person growth is only 0.5 per cent, business investment has stalled and the number of people on the dole has risen by 22,000.

“Today we’ve had yet another growth downgrade by NZIER – further evidence that the Government has no plan to revive the economy.

“Global growth has slowed, but it is also the case that New Zealand’s export prices are at historically high levels. We should be growing faster.

“The Government should stop putting obstacles in the way of growth and deliver on infrastructure and housing, ditch its union-friendly industrial laws, reverse the reckless ban on oil and gas exploration, lift unnecessary restrictions on the flow of direct investment and reduce taxes on New Zealand households.

“National is unashamedly focused on growing the economy because we understand it is the most powerful way of improving the living standards of New Zealanders.

“A stronger economy means more jobs and higher incomes. Higher incomes also give households more choices, including whether to save more or pay down debt when the cost of borrowing rises.

“National will get on with implementing our pro-growth agenda by reducing taxes, increasing labour market flexibility, encouraging the flow of investment and slashing unnecessary regulations. Our economic plan will restore business confidence and revive the economy.”

© Scoop Media

 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Gordon Campbell: On The Clark Exit, Convention Centres, And The Killing Of Hachalu Hundessa


Goodbye, David Clark. In the end, the outgoing Health Minister decided that in the midst of a pandemic the best thing he could do for New Zealand would be to no longer be there – given that being there had involved hiving off on his mountain bike during a lockdown, and throwing the country’s most beloved Health bureaucrat under a bus. As Clark indicated so memorably at last week’s press conference, when it comes to managing public health risks at the border the buck stops with…that guy over there! In the aftermath of that debacle, Clark reached the same conclusion the nation had reached some time ago, that leadership just wasn’t his thing. Once again, he got on his bike.... More>>
 

Government: New Investment Creates Over 2000 Jobs To Clean Up Waterways

A package of 23 projects across the country will clean up waterways and deliver over 2000 jobs Prime Minister Jacinda Ardern and Environment Minister David Parker announced today. The $162 million dollar package will see 22 water clean-up projects ... More>>

ALSO:

Government: David Clark Resigns As Health Minister

The Prime Minister Jacinda Ardern has accepted David Clark’s resignation as Health Minister. More>>

ALSO:

Election 2020: Green Party Unveils Income Policy

The Green Party is today unveiling its Poverty Action Plan, which includes a Guaranteed Minimum Income to ensure people have enough to live with dignity. The scheme resets income support payments to ensure everyone not in full-time paid work gets at least ... More>>

ALSO:


Conservation: New Protection For Dolphins

Extensive new protections are being put in place as part of an updated plan to look after New Zealand’s native Hector’s and Māui dolphins, announced Minister of Fisheries Stuart Nash and Minister of Conservation Eugenie Sage today. More>>

ALSO:

Auckland: Water Consent Referred To Board Of Inquiry

Environment Minister David Parker has today “called in” Auckland’s application to the Waikato Regional Council to take an extra 200 million litres of water a day from the lower reaches of the Waikato River for Auckland drinking water and other municipal uses... More>>

ALSO:

Gun Law: A New Firearms System Focused On Safety

Tougher gun laws will begin to take effect from next week following the passage of new firearms legislation through Parliament today. The Minister of Police says the Third Reading of the Arms Legislation Bill is an historic milestone for community ... More>>

ALSO:


PM: Labour Will Extend Loan Scheme 'lifeline' For Small Business

Labour has announced its plans to extend the Small Business Loan Cashflow Scheme and spend $162 million on a waterway clean-up package. More>>

ALSO:

RNZ: Details Of Active Covid-19 Cases Leaked In Privacy Breach

The State Services Commission has been called in to make sure a 'thorough investigation' is held. More>>

ALSO:

Biosecurity: Winston Peters On EU Travel: 'We're Not Going To Compromise Our Country's Health'

Foreign Minister Winston Peters says New Zealanders who head to Europe on holiday should pay for their two weeks' hotel quarantine when they return. More>>

Economy: Infrastructure Investment To Create Jobs, Kick-Start COVID Rebuild

A new package of infrastructure investments will help kick-start the post-COVID rebuild by creating more than 20,000 jobs and unlocking more than $5 billion of projects up and down New Zealand. Finance Minister Grant Robertson and Infrastructure Minister ... More>>

ALSO:

Covid-19: Isolation System To Be Beefed Up After Stress

A range of improvements are already underway to address issues identified in the rapid review of the Managed Isolation and Quarantine system released today, Housing Minister Megan Woods said. The review was commissioned just over a week ago to identify ... More>>

ALSO:

Election 2020: Parties Get Into Gear

ACT has today announced its list for the 2020 General Election. “The calibre and experience of our candidates will impress voters of every persuasion. We have candidates from all walks of life. People who have built their homes, families and businesses ... More>>

ALSO:

 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 


 

InfoPages News Channels