National Government has no ideas
21/07/10 17:54 Filed in: Speeches
Jim Anderton’s speech in the General Debate in parliament
This is a government with no plan, no new ideas - but lots of smiles from Mr Key - who is starting to look like the Wizard of Oz.
A traveling magician who pulls out another trick every time the last trick fails.
But you can only trick Dorothy and the tin man for so long.
Because the people of New Zealand are starting to see - there is no plan. There is no way back to Kansas.
What has the Wizard of New Zealand pulled out of his bag so far?
We’ve had the 2025 Taskforce which was meant to show how we could catch up Australia.
What happened to that? Nothing. Don Brash failed to deliver - no surprises there - as the Kiwi kid says about the Aussie kid on that TV ad.
But Don’s still being kept on to give another report next year!
Yet he’s run out of money already; some trick for a former Governor General of the Reserve Bank in charge of New Zealand’s monetary policy!
Then we had the job’s summit.
How’s that going?
No new jobs and unemployment is on the rise.
We halved the rate of unemployment when we were in government to under 4%.
Under this government it has risen to 6% already- an increase of 50%.
Now It’s almost returned to what it was under the last National government
You can’t blame that on the recession.
Especially when the only idea to save jobs was the 9-day fortnight. That was meant to save thousands of jobs by getting people to work less, so they get paid less, and businesses stay afloat.
At the most it saved only about one hundred jobs.
But now John Key has come up with another wizard idea: you can sell your 4th week of annual leave.
So he thinks the solution is to get people to work for longer - and that will save the economy?
Which is it? A 9-day fortnight and work less - or sell your holidays and work more?
And what a magicians slight of hand to suggest that you have the choice to ‘sell’ your annual leave.
In my book, it’s just working for an extra week and getting paid for it! Nothing new about that.
John Key says you can even sell your sick leave and your public holidays.
Why not take Christmas day tomorrow - then decide to sell it - and work anyway?
Then we had the cycle way. That was meant to create jobs. Tourist industries were meant to pop up all along the cycle way.
All we’ve seen so far is pictures of John Key on a bike - smiling as always.
It’ll take more than a push bike and cycle way to grow New Zealand.
Mining is now meant to save the New Zealand economy.
What happened to that? Another flip-flop because this smiling Prime Minister doesn’t want to be unpopular.
So what’s the next big idea?
There isn’t one.
If John Key and his government were serious about growing the economy, they wouldn’t just pay lip service to the the farming sector.
The truth is - Agriculture makes up 43% of New Zealand’s exports, compared to tourism which makes up 17%.
And yet John Key didn’t mention farming in 2008 in the post-election speech from the throne.
Didn’t mention it in 2009 in his speech in parliament at the beginning of the year.
Nothing wrong with supporting tourism. But there is something wrong with ignoring farming.
If he thinks he can grow the New Zealand economy while ignoring the farming sector and building cycle ways - he’s dreaming.
What kind of mickey mouse economics smashes the Fast Forward Fund for research into the primary sector, and cancels the tax credit for businesses in favour of a cycle way?
That was a loss of over $2 and half billion for the productive, export earning sectors of the New Zealand economy.
You don’t have to be a rocket scientist to see that the farming sector belongs at the centre of any government’s economic strategy.
Previous governments had demoted it to a ‘sunset industry’.
John Key’s government is doing the same.
Instead of playing wizard tricks on the people of New Zealand, John Key needs to get serious.
New Zealand could be a global centre for food production; for IT and for good ideas that add value to what we already do well - grow and make food.
This government has no plans to grow the economy. No plans to create jobs.
Like the Wizard of Oz - Mr Key is hiding behind bright lights and all the tricks of the trade.
But New Zealanders are starting to see that there are no more tricks in the bag. The Wizard has no clothes
This is a government with no plan, no new ideas - but lots of smiles from Mr Key - who is starting to look like the Wizard of Oz.
A traveling magician who pulls out another trick every time the last trick fails.
But you can only trick Dorothy and the tin man for so long.
Because the people of New Zealand are starting to see - there is no plan. There is no way back to Kansas.
What has the Wizard of New Zealand pulled out of his bag so far?
We’ve had the 2025 Taskforce which was meant to show how we could catch up Australia.
What happened to that? Nothing. Don Brash failed to deliver - no surprises there - as the Kiwi kid says about the Aussie kid on that TV ad.
But Don’s still being kept on to give another report next year!
Yet he’s run out of money already; some trick for a former Governor General of the Reserve Bank in charge of New Zealand’s monetary policy!
Then we had the job’s summit.
How’s that going?
No new jobs and unemployment is on the rise.
We halved the rate of unemployment when we were in government to under 4%.
Under this government it has risen to 6% already- an increase of 50%.
Now It’s almost returned to what it was under the last National government
You can’t blame that on the recession.
Especially when the only idea to save jobs was the 9-day fortnight. That was meant to save thousands of jobs by getting people to work less, so they get paid less, and businesses stay afloat.
At the most it saved only about one hundred jobs.
But now John Key has come up with another wizard idea: you can sell your 4th week of annual leave.
So he thinks the solution is to get people to work for longer - and that will save the economy?
Which is it? A 9-day fortnight and work less - or sell your holidays and work more?
And what a magicians slight of hand to suggest that you have the choice to ‘sell’ your annual leave.
In my book, it’s just working for an extra week and getting paid for it! Nothing new about that.
John Key says you can even sell your sick leave and your public holidays.
Why not take Christmas day tomorrow - then decide to sell it - and work anyway?
Then we had the cycle way. That was meant to create jobs. Tourist industries were meant to pop up all along the cycle way.
All we’ve seen so far is pictures of John Key on a bike - smiling as always.
It’ll take more than a push bike and cycle way to grow New Zealand.
Mining is now meant to save the New Zealand economy.
What happened to that? Another flip-flop because this smiling Prime Minister doesn’t want to be unpopular.
So what’s the next big idea?
There isn’t one.
If John Key and his government were serious about growing the economy, they wouldn’t just pay lip service to the the farming sector.
The truth is - Agriculture makes up 43% of New Zealand’s exports, compared to tourism which makes up 17%.
And yet John Key didn’t mention farming in 2008 in the post-election speech from the throne.
Didn’t mention it in 2009 in his speech in parliament at the beginning of the year.
Nothing wrong with supporting tourism. But there is something wrong with ignoring farming.
If he thinks he can grow the New Zealand economy while ignoring the farming sector and building cycle ways - he’s dreaming.
What kind of mickey mouse economics smashes the Fast Forward Fund for research into the primary sector, and cancels the tax credit for businesses in favour of a cycle way?
That was a loss of over $2 and half billion for the productive, export earning sectors of the New Zealand economy.
You don’t have to be a rocket scientist to see that the farming sector belongs at the centre of any government’s economic strategy.
Previous governments had demoted it to a ‘sunset industry’.
John Key’s government is doing the same.
Instead of playing wizard tricks on the people of New Zealand, John Key needs to get serious.
New Zealand could be a global centre for food production; for IT and for good ideas that add value to what we already do well - grow and make food.
This government has no plans to grow the economy. No plans to create jobs.
Like the Wizard of Oz - Mr Key is hiding behind bright lights and all the tricks of the trade.
But New Zealanders are starting to see that there are no more tricks in the bag. The Wizard has no clothes
0 Comments
Comment on economics and the recession
21/05/09 12:37 Filed in: Columns
Response to Daniel Silva's comments for Country-wide magazine
So Daniel Silva thinks that the current international recession isn’t going to affect New Zealand much. Well that’s all right then? Actually – no. He’s quite wrong to think so for two significant reasons quite aside from the fact that any nation which earns its living as an international commodities trader is going to be affected by what happens to purchasing power in our major markets.
The first of these reasons is that it’s perfectly true that the New Zealand banking and finance sectors have not to anything like the same extent been in the business of offering the sorts of ‘toxic loans’ that banks in the United States and Europe have been. That’s to say they have not been lending large sums of money on securities which are wholly inadequate to cover the loans, to people who can’t afford the repayments and then packaging the loans in ways that make it almost impossible to untangle the debt and which spread it far beyond the originating banks.
But we have nevertheless experienced an overheated speculative housing boom which has now come to an end. At the same time our financial securities market which, although it was re-regulated to an extent following the excesses of the nineteen eighties and nineties remains significantly less regulated than others in the OECD, has paid the price in an unprecedented series of finance company crashes.
All of this exacts a toll that leads to recessionary pressures which when coupled with the impact of the international recession means a significant downturn in our economic growth. Fortunately for the incoming government they have two major advantages to assist them in responding to this situation. The first is the healthy state of the New Zealand economy because of the prudent, some thought over conservative management, of the economy over the last nine years by Finance Minister Michael Cullen.
The irony of that is that had he followed the then advice of his successor Bill English and engaged in significant tax cutting three or four years ago the current Minister of Finance would be far less well placed to cope with recessionary pressures than he actually is. No doubt that irony is lost on Mr Silva.
The second is that there is the backstop of local financial institutions, including the Kiwibank, which are able to pick up a certain amount of the slack although they obviously don’t have the capacity of the major Australian banks which do business here and which we know are more significantly affected by the international downturn.
The second reason why Mr Silva is wrong is that we are already feeling the negative effects. It may be, of course, that he leads a very cloistered life and has not picked up on the reports of job losses which are beginning to come with increasing rapidity.
The unemployed stand at 115,000 for the quarter to March or 5% with more job losses reported daily and the Treasury reporting a possible high of more than 8%.
This compares very unfavourably with the figures for the past nine years which reached lows of just over 3%, a figure not seen for over two decades.
In another of life’s little ironies these unemployment rates were largely the result of the Labour-Progressive government’s emphasis on regional growth and development. Both as Minister of Economic Development and Agriculture I was intent on placing considerable emphasis on regional development to the extent that we inherited an economy in which many regions were in negative growth mode and within three years we had all regions growing at rates which had not been seen for decades in some cases.
We maintained this throughout our nine years in office and thereby provided a cushion against subsequent unemployment. It will be interesting to see if the current government can maintain that record. I do know however that they will not do it by building bicycle tracks or by cutting back on the working fortnight which are measures which are no more likely to resolve unemployment than similar schemes did in the Depression of the thirties. Nor will they do it by cutting public expenditure which didn’t work in the thirties either.
The other area in which the impact is being felt, but which is possibly outside the ken of Mr Silva, is in the voluntary sector in which many organisations rely upon charitable and community trusts and similar bodies to underwrite their activities, many of which are vital to the well being of our communities. These trusts, for very good reasons, have traditionally diversified their investments and in some cases had significant sums invested in overseas securities.
The Auckland Community Trust alone is reported as having suffered losses amounting to two billion dollars and has had to regretfully tell some of its long term beneficiaries that they can no longer be supported. The potential ripple effect of that sort of loss may be incalculable.
Mr Silva is, however, right about one thing. We won’t get through the current downturn by panicking. We need to keep our nerve and mange our way through the recession by continuing to invest in our future as an exporting nation. But hiding our head under the blankets and pretending it isn’t happening is not going to get us there.
So Daniel Silva thinks that the current international recession isn’t going to affect New Zealand much. Well that’s all right then? Actually – no. He’s quite wrong to think so for two significant reasons quite aside from the fact that any nation which earns its living as an international commodities trader is going to be affected by what happens to purchasing power in our major markets.
The first of these reasons is that it’s perfectly true that the New Zealand banking and finance sectors have not to anything like the same extent been in the business of offering the sorts of ‘toxic loans’ that banks in the United States and Europe have been. That’s to say they have not been lending large sums of money on securities which are wholly inadequate to cover the loans, to people who can’t afford the repayments and then packaging the loans in ways that make it almost impossible to untangle the debt and which spread it far beyond the originating banks.
But we have nevertheless experienced an overheated speculative housing boom which has now come to an end. At the same time our financial securities market which, although it was re-regulated to an extent following the excesses of the nineteen eighties and nineties remains significantly less regulated than others in the OECD, has paid the price in an unprecedented series of finance company crashes.
All of this exacts a toll that leads to recessionary pressures which when coupled with the impact of the international recession means a significant downturn in our economic growth. Fortunately for the incoming government they have two major advantages to assist them in responding to this situation. The first is the healthy state of the New Zealand economy because of the prudent, some thought over conservative management, of the economy over the last nine years by Finance Minister Michael Cullen.
The irony of that is that had he followed the then advice of his successor Bill English and engaged in significant tax cutting three or four years ago the current Minister of Finance would be far less well placed to cope with recessionary pressures than he actually is. No doubt that irony is lost on Mr Silva.
The second is that there is the backstop of local financial institutions, including the Kiwibank, which are able to pick up a certain amount of the slack although they obviously don’t have the capacity of the major Australian banks which do business here and which we know are more significantly affected by the international downturn.
The second reason why Mr Silva is wrong is that we are already feeling the negative effects. It may be, of course, that he leads a very cloistered life and has not picked up on the reports of job losses which are beginning to come with increasing rapidity.
The unemployed stand at 115,000 for the quarter to March or 5% with more job losses reported daily and the Treasury reporting a possible high of more than 8%.
This compares very unfavourably with the figures for the past nine years which reached lows of just over 3%, a figure not seen for over two decades.
In another of life’s little ironies these unemployment rates were largely the result of the Labour-Progressive government’s emphasis on regional growth and development. Both as Minister of Economic Development and Agriculture I was intent on placing considerable emphasis on regional development to the extent that we inherited an economy in which many regions were in negative growth mode and within three years we had all regions growing at rates which had not been seen for decades in some cases.
We maintained this throughout our nine years in office and thereby provided a cushion against subsequent unemployment. It will be interesting to see if the current government can maintain that record. I do know however that they will not do it by building bicycle tracks or by cutting back on the working fortnight which are measures which are no more likely to resolve unemployment than similar schemes did in the Depression of the thirties. Nor will they do it by cutting public expenditure which didn’t work in the thirties either.
The other area in which the impact is being felt, but which is possibly outside the ken of Mr Silva, is in the voluntary sector in which many organisations rely upon charitable and community trusts and similar bodies to underwrite their activities, many of which are vital to the well being of our communities. These trusts, for very good reasons, have traditionally diversified their investments and in some cases had significant sums invested in overseas securities.
The Auckland Community Trust alone is reported as having suffered losses amounting to two billion dollars and has had to regretfully tell some of its long term beneficiaries that they can no longer be supported. The potential ripple effect of that sort of loss may be incalculable.
Mr Silva is, however, right about one thing. We won’t get through the current downturn by panicking. We need to keep our nerve and mange our way through the recession by continuing to invest in our future as an exporting nation. But hiding our head under the blankets and pretending it isn’t happening is not going to get us there.
Budget 2009 Speech
28/05/09 12:30 Filed in: Speeches
This is a budget that has all the competence that you would expect from the people responsible for Melissa Lee’s Mt Albert by-election campaign.
The good news: Inflation is no longer a problem. We have finally got the low inflation economy the National Party always said would deliver us its dream economy. How’s that working out now?
National has produced a lacklustre budget that Bill Birch would have been proud of.
In troubled times, when the economy is rocking on the waves of global economic storms, the government has responded weakly.
Not with a vision for the future.
Not with bold steps that will lead New Zealand on a developmental path.
But with a weak, uncertain, sitting on their hands response.
Governments around the world are investing in the future.
This one has slashed the future.
This one is the Broken Promise budget.
The total value of primary sector science investment falls from $2 billion in NZ Fast Forward under the last government to as little as $1.2 billion now.
It is cutting nearly as much out of science and research in the primary sector as it is investing in infrastructure.
Government spending on science and research, on a like for like basis, falls from around a billion government dollars in the NZ Fast Forward Fund, to $610 million in National’s replacement.
With matching private sector funding, the total investment in primary sector research and development falls by $800 million, or about 0.4 per cent of GDP.
In addition, the government has not replaced a cent of the cancelled research and development tax credit.
This is huge cut in science and research.
It is a disaster for the future of New Zealand’s economy.
It is a disaster for the future of our most important economic sector.
Other developed countries are preparing themselves to come out of this recession stronger.
New Zealand is preparing by switching from science and research to poltergeists and UFOs.
The government promised the primary sector it would spend more on science and research.
That is what David Carter repeatedly promised.
He promised it as recently as this year.
Farmers and our agri businesses will be looking it up.
And they will find not increases, but cuts.
It has broken that promise as surely as if it has broken its promise on personal taxes.
I want to turn to some other features of this disappointing budget.
I want to draw the House’s attention to the table on Page 55 of the fiscal strategy report.
In there the government points to its expected increases in nominal average wages over the next four years.
If you deduct those from the CPI – the cost of living index - there will be no increases in real wages for four years.
No increase in real wages for four years!
This is the curious branch of economics that says the way to make New Zealand better off is to make everyone worse off.
Not since the eighties have we had an economy that didn’t increase real wages for four consecutive years.
It’s hardly conducive to keeping working New Zealanders here.
If they were leaving before, wait until John Key’s policies result in no increase in real wages for four years.
I have to give the National party credit for one thing.
There was a time in the past when National would have said the way to fix that would be to spend up on tax cuts.
At least Bill English and John key have now accepted that tax cuts do not stimulate the economy.
But that is not what they said when they wanted to get elected.
They promised New Zealanders tax cuts.
They now say they can’t afford them. Fair enough. But that’s not what they said when they wanted a vote.
Back then they said their promises took into account the worsening economic climate.
Back then they said
“National has structured its economic package to take account of the changing international climate.”
They weren’t telling the truth when they made the promises that got them elected.
They said: “Our tax cut programme will not require any additional borrowing”.
They weren’t telling the truth when they made the promises that got them elected.
The only way that promise could have been true is if his tax policy wouldn’t require borrowing because it was never going to go ahead anyway - and John Key knew that even before the election
Last year John Key said his tax policy was "appropriate for the current conditions" and would require "no additional borrowing.”
There is no excuse for this.
John Key was here in the eighties and he was here in the nineties when governments got elected and immediately tossed out the promises they got elected on.
I was in here in 1991.
I remember the Bolger government got away with the 1991 budget to begin with.
People gave them the benefit of the doubt that the economy had been wrecked by Roger Douglas and needed hard measures.
But over time it was a disaster.
This one will be too.
Those tax cuts needed to be cancelled.
But they should never have been promised in the first place.
John Key owes New Zealand an apology for getting himself elected on a promise that could never have been kept.
Did he know before the election that the international economic situation was deteriorating, or did he only find out when the Treasury told him?
Neither possible answer reflects well on his fitness to lead a country through a crisis.
I want to turn in the time left to the cuts to the Super Fund.
This is very sneaky politics.
Cutting the Super Fund now reduces the ability of any government in the future to provide for super at anything like existing rates or retirement age.
So what Bill English is doing is pushing out by ten years the hard decisions about the huge tax increases or cuts to super that will be needed to make super affordable.
He has calculated he won’t be finance minister in ten years.
He is right about that!
After this budget he won’t be finance minister in three years.
But he has delivered an enormous burden to future taxpayers.
The affordability of superannuation in the future must decline because we are no longer putting aside something now to pay for some of it in the future.
It was going to pay for around fifteen percent of the future cost.
Now it will pay for less than seven per cent.
That means the age of eligibility for superannuation will be increased to around 67; or else there will be huge tax increases required to pay for it.
That is the doozy the government has announced today.
This is not a budget that prepares New Zealand for the challenges of the future.
There is not a word in here about preparing New Zealand for the effects of climate change.
The Green party will be disappointed that the sum put aside for home insulation has been slashed from a billion dollars to $244 million.
Then we look over at the infrastructure spend, and we can see that the government is shifting $258 million of spending from rail to roads.
So this is what the Greens have got for their cooperation deal with the National party.
They have actually lost money!
They have lost $14 million!
Then what about the Maori party?
Who do they think is going to be hardest hit by this recession?
The National party is not doing anything for new jobs, and the Maori Party is voting for that!
At least Pita Sharples can wave at the unemployed as he drives by in his new car.
The good news: Inflation is no longer a problem. We have finally got the low inflation economy the National Party always said would deliver us its dream economy. How’s that working out now?
National has produced a lacklustre budget that Bill Birch would have been proud of.
In troubled times, when the economy is rocking on the waves of global economic storms, the government has responded weakly.
Not with a vision for the future.
Not with bold steps that will lead New Zealand on a developmental path.
But with a weak, uncertain, sitting on their hands response.
Governments around the world are investing in the future.
This one has slashed the future.
This one is the Broken Promise budget.
The total value of primary sector science investment falls from $2 billion in NZ Fast Forward under the last government to as little as $1.2 billion now.
It is cutting nearly as much out of science and research in the primary sector as it is investing in infrastructure.
Government spending on science and research, on a like for like basis, falls from around a billion government dollars in the NZ Fast Forward Fund, to $610 million in National’s replacement.
With matching private sector funding, the total investment in primary sector research and development falls by $800 million, or about 0.4 per cent of GDP.
In addition, the government has not replaced a cent of the cancelled research and development tax credit.
This is huge cut in science and research.
It is a disaster for the future of New Zealand’s economy.
It is a disaster for the future of our most important economic sector.
Other developed countries are preparing themselves to come out of this recession stronger.
New Zealand is preparing by switching from science and research to poltergeists and UFOs.
The government promised the primary sector it would spend more on science and research.
That is what David Carter repeatedly promised.
He promised it as recently as this year.
Farmers and our agri businesses will be looking it up.
And they will find not increases, but cuts.
It has broken that promise as surely as if it has broken its promise on personal taxes.
I want to turn to some other features of this disappointing budget.
I want to draw the House’s attention to the table on Page 55 of the fiscal strategy report.
In there the government points to its expected increases in nominal average wages over the next four years.
If you deduct those from the CPI – the cost of living index - there will be no increases in real wages for four years.
No increase in real wages for four years!
This is the curious branch of economics that says the way to make New Zealand better off is to make everyone worse off.
Not since the eighties have we had an economy that didn’t increase real wages for four consecutive years.
It’s hardly conducive to keeping working New Zealanders here.
If they were leaving before, wait until John Key’s policies result in no increase in real wages for four years.
I have to give the National party credit for one thing.
There was a time in the past when National would have said the way to fix that would be to spend up on tax cuts.
At least Bill English and John key have now accepted that tax cuts do not stimulate the economy.
But that is not what they said when they wanted to get elected.
They promised New Zealanders tax cuts.
They now say they can’t afford them. Fair enough. But that’s not what they said when they wanted a vote.
Back then they said their promises took into account the worsening economic climate.
Back then they said
“National has structured its economic package to take account of the changing international climate.”
They weren’t telling the truth when they made the promises that got them elected.
They said: “Our tax cut programme will not require any additional borrowing”.
They weren’t telling the truth when they made the promises that got them elected.
The only way that promise could have been true is if his tax policy wouldn’t require borrowing because it was never going to go ahead anyway - and John Key knew that even before the election
Last year John Key said his tax policy was "appropriate for the current conditions" and would require "no additional borrowing.”
There is no excuse for this.
John Key was here in the eighties and he was here in the nineties when governments got elected and immediately tossed out the promises they got elected on.
I was in here in 1991.
I remember the Bolger government got away with the 1991 budget to begin with.
People gave them the benefit of the doubt that the economy had been wrecked by Roger Douglas and needed hard measures.
But over time it was a disaster.
This one will be too.
Those tax cuts needed to be cancelled.
But they should never have been promised in the first place.
John Key owes New Zealand an apology for getting himself elected on a promise that could never have been kept.
Did he know before the election that the international economic situation was deteriorating, or did he only find out when the Treasury told him?
Neither possible answer reflects well on his fitness to lead a country through a crisis.
I want to turn in the time left to the cuts to the Super Fund.
This is very sneaky politics.
Cutting the Super Fund now reduces the ability of any government in the future to provide for super at anything like existing rates or retirement age.
So what Bill English is doing is pushing out by ten years the hard decisions about the huge tax increases or cuts to super that will be needed to make super affordable.
He has calculated he won’t be finance minister in ten years.
He is right about that!
After this budget he won’t be finance minister in three years.
But he has delivered an enormous burden to future taxpayers.
The affordability of superannuation in the future must decline because we are no longer putting aside something now to pay for some of it in the future.
It was going to pay for around fifteen percent of the future cost.
Now it will pay for less than seven per cent.
That means the age of eligibility for superannuation will be increased to around 67; or else there will be huge tax increases required to pay for it.
That is the doozy the government has announced today.
This is not a budget that prepares New Zealand for the challenges of the future.
There is not a word in here about preparing New Zealand for the effects of climate change.
The Green party will be disappointed that the sum put aside for home insulation has been slashed from a billion dollars to $244 million.
Then we look over at the infrastructure spend, and we can see that the government is shifting $258 million of spending from rail to roads.
So this is what the Greens have got for their cooperation deal with the National party.
They have actually lost money!
They have lost $14 million!
Then what about the Maori party?
Who do they think is going to be hardest hit by this recession?
The National party is not doing anything for new jobs, and the Maori Party is voting for that!
At least Pita Sharples can wave at the unemployed as he drives by in his new car.
All talk and no jobs
15/07/09 11:53 Filed in: News Releases
National is talking big about agriculture, but it’s running up a surrender flag with no new ideas, Opposition agriculture spokesperson Jim Anderton says.
“Today John Key billed his speech as a major statement on the economy, but he had no new ideas while unemployment is increasing.
“Unemployment in a region like Gisborne increased from 3.8% in 2006 to 7.8% in March this year and it will be inevitably higher now. Yet while unemployment is rising quickly in regional New Zealand, National has no ministry or policy for regional development or industry development. They never did and they don’t have now.
“National imposed a massive tax increase on research and development and it cancelled a two-billion dollar partnership between the government and private sector to invest in primary sector innovation.
“While John Key talks about the economic performance of agriculture, he has no idea about why our farms, businesses and homeowners are paying much higher interest rates than Australians, when the same banks are doing the lending.
“John Key is all talk and no jobs,” Jim Anderton said.