Gordon Campbell | Parliament TV | Parliament Today | News Video | Crime | Employers | Housing | Immigration | Legal | Local Govt. | Maori | Welfare | Unions | Youth | Search

 

Money Troubles Require Active State Involvement

International Money Troubles Require Active State Involvement

Alliance Party Media Release FOR IMMEDIATE RELEASE Monday, October 13th, 2008

Alliance list candidate, Quentin Findlay, today congratulated the Government on its decision to guarantee people's bank deposits but warned that the state would need to be more actively involved in the economy as the financial crisis worsened.

He said that despite Labour's moves in this area and the tough talking from the Prime Minister, Labour was still supportive of the 'market led' approach towards economic policy.

"The Government needs to develop a range of economic tools to ensure economic protection and its current policy is still prohibitive of that approach."

This meant, Mr Findlay said, that the Government especially needed to look at legislation such as the Reserve Bank Act and the Fiscal Responsibility Act as well as its commitments to organisations such as the WTO and the related free trade deals.

Furthermore, he said that the one of the barriers to active state involvement in the economy was the proposed P4 deal between New Zealand and the US, Chile, Brunei and Singapore. Under the terms of the deal, New Zealand has offered up its ability to control financial services and also impose tariffs in return for a free trade agreement.

"The terms of the deal meant that the same people who helped create the current global economic disaster would be in control of the New Zealand economy. It's similar to giving Dracula the keys to a blood bank," said Mr Findlay.

The Government needs to have room to manoeuvre in these sorts of situations and that requires having economic tools which allowed it to control capital flows and sector markets.

The present economic framework was still largely one based in the 1980s, where the government and people had a subservient role to that the market place. This meant that the emphasis of current economic policy was to maintain monetarism in place so as to check inflation at the expense of creating employment for thousands of Kiwis.

Mr Findlay believes that there are two options in that "an economy could be geared to the market or it could be aligned to the notion that it serves people and society. We in the Alliance Party believe that it should serve the latter notion and not the former and our party will continue to promote that belief during the remainder of the election campaign."

Ends

© Scoop Media

 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Gordon Campbell: On The Epic Fails Of Kris Faafoi


Ever since Winston Peters first breathed life into this government in 2018, its own branding has been all about social justice and how we all need to be “kind” to each other. Somehow, Kris Faafoi must have missed the memo. His performance in the immigration portfolio (in particular) has neither been kind nor just, especially to the migrants whose skills New Zealand will need to get us through Covid, and grow the economy into the future... More>>

Covid-19 & Government: Government Green Lights Rapid Antigen Testing


Some of the country’s largest businesses have put in an order for 300,000 approved rapid antigen tests for their workforce, after working at pace with the Government on a new scheme unveiled by Associate Minister of Health and Research, Science and Innovation Ayesha Verrall... More>>


ALSO:




 
 


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:


Government: Books Show Resilient And Strong Economy
The end of year audited Crown accounts released today show the Government’s health led approach to the COVID-19 pandemic has protected New Zealand’s economy. “On almost every indicator the accounts show that the New Zealand economy has performed better than forecast... More>>


Healthcare: Health System Is Ready For Assisted-dying Law
The health system is ready for the implementation of the End of Life Choice Act when it takes effect next month, making assisted dying legal in New Zealand, Health Minister Andrew Little said today... More>>

ALSO:



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>>



Children's Commissioner: Call For Mandatory Vaccination Of Children’s Workforce
The Children’s Commissioner and Assistant Māori Commissioner are calling for a plan for the mandatory vaccination of teachers and the entire children’s workforce in New Zealand... More>>


 
 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

InfoPages News Channels