Thursday 4th Nov 1999

Richard Prebble

Media Release -- Economy

The September quarter employment figures are a death blow to the credibility of the gloom and doom election campaign promoted by the Labour-Alliance coalition, ACT leader Richard Prebble said today.

"Unemployment falling to 6.8 per cent puts New Zealand's jobless rate below Australia's and well below that of the European countries that the Alliance is so fond of quoting to support their weird economic policies," he said.

"The figures show that our economy is recovering from the ravages of the erratic economic administration of Mr Winston Peter in his time as Treasurer and give credibility to the Government's claim that we are on the right track.

"It is ACT's view that with some positive changes, such as cutting red tape and a lower tax rate than Australia's, we can lower the unemployment rate even further.

"The 7.5 per cent unemployment rate which resulted from Mr Peter's ill-advised spend up is a warning to voters that the tax and spend policies of the Labour-Alliance coalition will see a very rapid decline in private sector investment and growth, with a rapid return to rising unemployment.

"The message is clear: Unemployment goes down with the sensible policies of the centre-right and up with the reckless policies of the left."

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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