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Prebble Speech - It's The Economy

The media reports that public opinion polling now reveals that the centre -right and the left are neck and neck. What we are not told is why Labour's lead is dissolving like butter in the hot sun.

It's the economy.

The economy and how New Zealand can create new jobs is the number one issue.

Up until the election, attention has been focused on National's performance. Let's be blunt. National has done little to grow the economy. But, Labour threatens to wreck the economy and the Alliance has made that a campaign promise.

Only ACT is saying that it is business, not governments, that creates wealth and jobs. Only ACT is saying we will get red tape and bureaucracy off the back of business. ACT's priority is a low flat tax and minimal compliance costs.

ACT will strengthen the Employment Contracts Act to allow greater flexibility and certainty.

ACT's positive policies to create jobs and growth are the reason is why ACT is rising in the polls.

Labour is falling in the same polls because for the first time the electorate is hearing Labour's message of more tax, more spending and more red tape.

Dr Michael Cullen is not a credible Treasurer. Dr Cullen's plan to reintroduce the ability of trade unions to hold the country to ransom by national strikes against whole sectors has frightened business. We remember how strikes by wharfies took out every wharf, how strikes by freezing workers closed every freezing works and how strikes by pilots grounded every plane and brought the country to a stand still.

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Dr Cullen's boast that increasing taxes won't hurt the economy makes us wonder just how out of touch he is.

Some 61,000 of New Zealand's most talented people left New Zealand permanently over the last 3 years. How many more will leave when Dr Cullen and the Alliance not only increase taxes on what we earn, but also start to tax what we own?

Labour's pledge to re-nationalise ACC without compensation is a threat to private property rights.

Labour's threat not to honour West Coast logging contracts is a threat to the sanctity of contract.

If Labour can nationalise without compensation and legislate to break contracts, no-one's business is safe.

Three major independent reports have all slammed Labour's policies as being bad for business and say that Labour's policies will cost jobs.

The first report is from the people who create jobs, the Manufacturers. The Manufacturers Federation slammed Labour's policies as punishing hard work with extra taxes, increasing ACC costs, introducing compulsory unionism by the back door and increasing red tape and compliance costs.

In September, the independent economic researchers, Infometrics released a report after analysing the tax policies of the major political parties. The report concluded that the New Zealand economy would perform best under ACT New Zealand's tax policy of cutting the top tax rate to 20% within five years. The report stated: "that there is clear daylight in the gap in quality between ACT's tax proposals compared with those of the other parties. Infometrics found that ACT's policies are the best for economic growth and job creation.

This week, the Auckland Chamber of Commerce and Industry released its report on the cost of Labour's policies, which the Chamber commissioned Infometrics to carry out. In the report Infometrics carefully costed Labour's policies and found that the cost of Labour's policies is a crushing $1.24 billion. Labour has produced no figures to refute this or any explanation as to who will pay for their damaging, backward looking policies. It is clear that business will be the ones who pay.

Let me make a further prediction. As more New Zealanders get to examine in depth Labour's policies of tax and spend, that Labour's support will continue to fall.

As more New Zealanders get to see ACT's proposals of how we can have positive change for stronger families, and stronger businesses, ACT's support will continue to climb.


ENDS

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