Parliament

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

 

Plan Needed To Get NZ Out Of Recession And Avoid $50,000 Debt Per Household

This week’s Budget will show that New Zealand is headed for the deepest recession in a generation and there needs to be a strong plan to guide New Zealand out of this economic hole, Leader of the Opposition Simon Bridges says.

“Westpac has said they’re expecting 10 per cent deficits for the next two years. This would equate to approximately $30 billion in deficit each year.

“They are also forecasting debt to rise to 50 per cent of GDP over the next four years. This would equate to nearly $100 billion in additional Government debt that will need to be repaid. ASB estimate an even sharper rise to 60 per cent of GDP, close to $120 billion more to pay off.

“These figures are eye-watering and work out at more than $50,000 in additional Government debt per household.

“They also highlight the importance of having a clear strategy to guide New Zealand out of this recession and back to economic prosperity.

“National has the right team and a track record of managing New Zealand through times of economic crisis. This Government’s team is lacklustre and has a track record of failing to deliver on their flagship policies.

“There’s no doubt billions of dollars will need to be invested to help get our economy up and running again post-Covid. Our worry is that this Government will turn a $40 billion problem into a $100 billion problem with poorly targeted spending and wayward priorities. And eventually it all needs to be paid back, with interest.

“We all know with Labour that more debt means more tax and the Prime Minister would not rule this out last week.

“We may have flattened the curve as a nation but with 1000 people a day joining the dole queue and employers deciding whether they battle on or give up, it is clear lockdown has gone on too long.

“The Government needs to trust Kiwis to get back to work. We need to get New Zealand working again.”

© Scoop Media

 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Gordon Campbell: On Why Todd Muller Needs To Own The Privacy Leak Scandal


Whenever a political scandal breaks, party leaders have two basic options. They can confess to being in boots and all, and try to brazen it out : nothing to see here, move on. This tended to be the John Key approach. Very hard to pull that off in this case, given that it involved violating the privacy of sick New Zealanders for party political gain.
The other option is to claim innocence of this terrible, no good, highly regrettable “error of judgement” and apologise profusely for the sins of others, while absolving your own good self of any responsibility. This has been Todd Muller’s chosen path.... More>>
 

Govt: Statement From Rt Hon Winston Peters

Deputy Prime Minister and New Zealand First Leader Rt Hon Winston Peters has announced he is taking a short stint of medical leave this week. More>>


Isolation: Government And Air NZ Agree To Manage Incoming Bookings

Bookings for seats on Air New Zealand flights into New Zealand will be managed in the short term to ensure the Government is able to safely place New Zealanders arriving home into a managed isolation or quarantine facility, says Housing Minister Megan ... More>>

ALSO:

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:




Covid-19 Patient Info Leak: Hamish Walker - A Personal Statement And An Apology

I have spoken to National Party Leader Todd Muller and informed him that I passed to members of the media, by email, information containing Covid-19 patient details that was given to me by a source. I did this to expose the Government’s shortcomings ... 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:


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