New data that shows slowing economic activity and record low business confidence confirms that National’s brand of complacent economic management and protecting the status quo isn’t working, the Green Party said.
The Treasury’s Monthly Economic Indicators, released today, show GDP growth falling to around 2 percent and job creation slowing. ANZ’s business confidence survey shows the lowest level of confidence since 2009.
“With economic activity slowing, unemployment rising, and business confidence at its lowest since the Global Financial Crisis, it’s clear that National’s approach of protecting the status quo isn’t working for New Zealand,” Green Party finance spokesperson Julie Anne Genter said.
“The damage from National’s over-reliance on dairy and ideological pursuit of oil and gas is now being felt throughout the economy.
“National said taking real action to reduce carbon emissions and child poverty wouldn’t be good for the economy – but actually it’s their own policies that are failing to deliver economic opportunities.
“National’s status quo approach isn’t working in the short-term to generate the sustainable economic activity that we need to support the long-term goals of fixing the big problems like child poverty and climate change.
“The low-carbon economy is where the job growth and economic opportunities are strongest throughout the world, but National is sitting back and letting the opportunity float past.
“In America, the solar industry created jobs ten times faster than the rest of the economy last year – the Government should be encouraging the same kind of clean job growth in New Zealand.
“If it wasn’t for Auckland’s runaway housing market, our economy could be in serious trouble – but it’s this same runaway housing market that is causing so many families anguish.
“Investing in people and protecting our environment are the best ways to ensure all New Zealanders are better off now and in the future,” said Ms Genter.