Parliament

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

 

RBNZ hold on rate rise the right move

The Reserve Bank’s decision to hold the Official Cash Rate at 0.25 per cent is the right one given the economic uncertainty New Zealand now faces as a result of the new Covid-19 lockdown, says National’s Shadow Treasurer Andrew Bayly.

“The Bank has done the right thing, having clearly recognised that it would be a mistake to put further pressure on the economy while we deal with the lockdown.

“That said, there are still strong signals that rapid rate rises are on the horizon, which means the Government must work with the Bank, rather than against it, to manage this prudently.

“In the meantime, wage subsidies and critical infrastructure delivery will be essential, and we will support the Government in delivering these initiatives.

“We remain concerned that the Government has run down the Covid Response and Recovery Fund which was supposed to be put aside for an outbreak.

“There was $50 billion in this rainy-day fund, but the Government has run it down to around $5 billion by spending it on anything but Covid-related spending.

“The most important thing right now is keeping New Zealanders safe and, from an economic perspective, that means judicious decision-making.

“It’s right that the Government supports businesses that are now required to shut-up shop but, just as the Reserve Bank takes steps to reduce uncertainty and cool an overheating economy, the Government must also step up by ensuring it spending is focussed on what matters.

“With inflation and labour shortages now the chief concerns, it is clear the Government needs to cut the waste and target spending where it is needed.”

© Scoop Media

 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Gordon Campbell: On The Perils Of Declaring Premature Victory


Sure enough, Saturday’s Vaxathon was a barrel of fun and a throwback not merely to the Telethons of the past. It also revived memories of those distant days of early 2020, when we were all carefully wiping down our groceries, not touching our faces, washing our hands for 20 seconds and responding to level four lockdowns by putting teddy bears in the window for the benefit of the little kids walking by in their family bubbles. Those were the days, when the Team of Five Million felt like a real, organic thing... More>>

RNZ: Prime Minister Jacinda Ardern announces Cabinet decision on Covid-19 alert levels


Northland will move to level 2 at 11.59pm on 19 October. Waikato will be held at level 3, to be reviewed on Friday. Auckland will remain in level 3 with current restrictions for another two weeks... More>>

ALSO:




 
 

Economy: Inflation highest in over a decade
The consumers price index rose 2.2 percent in the September 2021 quarter, the biggest quarterly movement since a 2.3 percent rise in the December 2010 quarter, Stats NZ said today. Excluding quarters impacted by increases to GST rates, the September quarter movement was the highest since the June 1987 quarter... More>>

ALSO:


Government: New Zealand Increases Climate Aid Contribution

The Government is making a four-fold increase in the support it provides to countries most vulnerable to the climate emergency, Prime Minister Jacinda Ardern and Climate Change Minister James Shaw announced today... More>>

Government: Opportunity To Shape NZ’s First Emissions Reduction Plan
The Government is inviting New Zealanders to inform the country’s first Emissions Reduction Plan with the release of a consultation document containing a range of policy ideas to decrease the country’s emissions, Prime Minister Jacinda Ardern and Climate Change Minister James Shaw announced today... More>>

ALSO:


CPay Cheque To Pay Cheque: Half A Million New Zealanders Have No Savings
New findings from the Consumer NZ sentiment tracker found that 15% of New Zealanders had no savings, and a further 27% were anxious about their level of savings and would like to have more tucked away... More>>


Government: Mandatory Vaccination For Two Workforces

Large parts of two workforces critical to preventing the spread of COVID-19 will be required to be vaccinated, COVID-19 Response Minister Chris Hipkins said today. “Our education and health and disability workforces have done an incredible job throughout this pandemic to keep themselves and people safe,” Chris Hipkins said.... More>>


Green Party: Deeply Concerned Space Launches May Be Breaching Nuclear-free Laws

The Green Party is deeply concerned that space launches by Rocket Lab may be breaching nuclear-free laws, given our long-standing position as a signatory of the Nuclear Non-Proliferation Treaty... More>>


 
 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

InfoPages News Channels