GDP Fall Shows Need For Positive Economic Direction

Friday 24th Sep 1999
Rodney Hide
Media Release -- Economy

ACT Finance Spokesman Rodney Hide said today's GDP result showing the
economy contracting in the June quarter strongly reinforced the need for
consistent and positive economic direction from Government.

"We have to remember that if our economy isn't working neither are
New Zealanders who need jobs.

"Government must be pro business and pro jobs. We also need to reign
in wasteful Government expenditure that is proving such a drag.

"What we need is a five year programme to drop the top rate of tax to 20
cents.

"New Zealand businesses are looking to the positive moves of the
Australian Government this week in cutting the tax rate. That move is about
creating jobs and boosting economic growth. National must stop
dithering and commit to doing the same.

"Labour's plans to 'change direction' and head back towards the 1970's
just aren't feasible.

"ACT says we have to set a positive economic direction that takes us
forward, making it easy to do business and employ people, to grow the
economy and create much needed jobs," said Rodney Hide. ENDS

ENDS

For more information visit ACT online at http://www.act.org.nz or contact
the ACT Parliamentary Office at act@parliament.govt.nz.

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