Economy stalling after nine years of National’s complacency – Labour Party

By   /   June 15, 2017  /   1 Comment

The second successive quarterly fall in per person growth shows the need for a fresh approach to give all New Zealanders a fair share in prosperity, says Labour’s Finance spokesperson Grant Robertson.

Data released by Statistics New Zealand today shows that GDP per capita fell 0.1 per cent in the March Quarter, following an 0.2 per cent decline in the December Quarter. Exports fell 0.4 per cent, following a 3.2 per cent decline in the December Quarter and a 1.1 per cent decline in the September Quarter. The construction sector shrunk 2.1 per cent.

“After nine years, National is asleep at the wheel. The economy is going backwards on a per person basis, the export sector is in recession, and, now, construction is falling too. Relying on population growth and an overheated housing market to prop up the economy is a dangerously complacent approach.”

“The decline in the construction sector is particularly worrying. We already have a shortage of 60,000 houses, growing by the day. We need more houses than ever, yet the building sector is shrinking. The complete failure to address the housing crisis is National’s biggest economic legacy.

“Labour’s fresh approach will invest in our regions, in building, in infrastructure, and in training our young people for the future of work.

“Just this week, Andrew Little announced funding to help revitalise the Whanganui economy and create jobs by upgrading port infrastructure. This builds on similar announcements in Gisborne and Dunedin. Labour will be making similar investments up and down the country in infrastructure projects that unlock growth and create jobs in the regions.

“National will have all the usual excuses for the fall in GDP per capita. After nine years, their time for making excuses has run out. We need an economy that delivers for New Zealand; we need to change the government,” says Grant Robertson.

 

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1 Comment

  1. CLEANGREEN says:

    The guts is about to drop out of National’s false economy of causing housing bubbles and overpriced commodities and inflated stock market shares, so get ready for the big bang folks.

    Greece number two!!!!!!!

    http://www.businessinsider.com/sandy-jadeja-interview-technical-analysis-dow-jones-market-crash-forecasts-2016-6?IR=T

    The man who accurately predicted four market crashes to the exact date each time has told Business Insider about three more dates to worry about.
    Sandy Jadeja is a technical analyst and chief market strategist at Core Spreads.
    Technical analysts look at charts to pinpoint patterns in various markets and asset classes. From that, they forecast which direction prices are likely to move.
    They can’t tell you the reasons why there will be a big market movement, only that there is going to be one.
    He now warns that the following dates spell trouble for the Dow Jones in the US that could spread to other markets.
    1. Between August 26 and August 30, 2016.
    2. September 26, 2016.
    3. October 20, 2016.
    “We have interesting times ahead of us. We are dealing with issues on so many levels from economic uncertainty in the financial markets, including currencies and commodities as well as the rising house prices we have seen,” said Jadeja in an interview.