The gap between the tradable and non-tradable parts of the economy has grown to its biggest since 2000 meaning the economy is growing more unbalanced under National’s economic leadership, the Green Party said today. GDP statistics released today by Statistics New Zealand show that the tradable parts of the New Zealand economy (exporters and trade-exposed businesses) shrunk by 0.8 percent in the December 2015 quarter while the rest of the economy (the non-tradable sector) grew by 0.9 percent over the...

The Green Party today announced a new Safe to School plan, which aims to dramatically increase the number of young people biking and walking to school. The campaign calls for a 30 km/h speed limit outside all urban schools, and an 80 km/h speed limit around rural New Zealand schools, with the limit dropping to 30km/h during school hours. Our plan would see these changes introduced over three years. Local authorities, in conjunction with schools, will also be able to...

The Green Party welcomed today’s cut in the Official Cash Rate (OCR) but restated that the Government’s failure to take the heat out of the Auckland housing market meant risks remained for further house price increases. The Reserve Bank today reduced the OCR by 25 basis points to 2.25 percent. “We welcome the long overdue decision to lower the OCR which will be a relief to indebted dairy farmers and households paying off their mortgages,” Green Party finance spokesperson Julie...

The National Government’s lack of a plan to shift New Zealand to electric vehicles will have contributed to Nissan’s decision to stop selling its Leaf electric car new in New Zealand, the Green Party said. The Nissan Leaf was formerly the most affordable electric car (EV) available new in New Zealand. “There is a huge opportunity for electric vehicles to cut our contribution to climate pollution and our $6 billion annual oil import bill but the National Government is being...

It’s time for Transport Minister Simon Bridges to stop having photos taken of him opening electric charging stations, and deliver actual policy to get more electric vehicles on our roads, the Green Party says. Transport Minister Simon Bridges is opening another electric vehicle charging station at Bayfair Shopping Centre in Tauranga today. “At this rate, there’ll soon be more photos of Simon Bridges opening charging stations than electric vehicles on our roads,” said Green Party Transport spokesperson Julie Anne Genter....

Record, excessive profits in the banking industry and the high level of foreign ownership of the banking sector is causing long-term damage to the economy, the Green Party said today. KPMG's latest Financial Institutions Performance Survey found New Zealand's banks posted record collective profits up 6.9 percent to reach an all-time high of $5.17 billion last year. Interest margins are also at ten-year highs at 2.28 percent. “The fact that over 90 percent of our banking sector is foreign-owned means...

Government financial statements released today are further evidence that National is failing to manage the economy responsibly for long term stability, the Green Party said. The financial statements for six months to 31 December 2015 showed a deficit of $889 million, $92 million higher than forecast. Core Crown debt grew to $66.9 billion, $1.1 billion higher than forecast. “The latest statements show the National Government is struggling to get its books in order in the short term and in the...

National’s housing policy half-measures aren’t enough to stop the Reserve Bank keeping interest rates on hold, which in turn is holding back small businesses, the Green Party said. “If it wasn’t for the Auckland housing crisis, I’d expect the Reserve Bank to cut the Official Cash Rate to help businesses invest and hire more staff,” Green Party finance spokesperson Julie Anne Genter said. “With very low inflation, Fonterra cutting its forecast dairy pay-out, and international ratings agencies saying New Zealand’s...

The Green Party celebrated the National Government's U-turn on the City Rail Link (CRL), with a mock-opening of the planned Karangahape rail station, which will be built on the site of its Auckland office. The Prime Minister, in his speech to the Auckland Chamber of Commerce today, committed to work with Auckland Council to allow major works to begin on the CRL in 2018. Karangahape Station will be built on the CRL route, and the Mercury Lane entrance constructed on...

The Green Party is celebrating a major victory today following the Prime Minister’s announcement that the National Government will no longer stand in the way of the City Rail Link (CRL), the Green Party said. The Prime Minister, in his speech to the Auckland Chamber of Commerce today, backtracked on the National Government's long held position of a 2020 start date for the CRL. The Government is committing to work with Auckland Council to bring forward a business plan, formalise...