Menu

Exports drop puts more pressure on surplus

A 5 per cent fall in exports shows National’s reputation for economic management is taking a hit and even puts its golden surplus target at risk, say Labour’s Finance spokesperson Grant Robertson and Exports Growth spokesperson David Parker.

“Bill English’s promise to rebalance the economy and boost the export sector is turning into a pipedream. The trend for exports has been falling since January, showing this is a long term trend,” says Grant Robertson.

 

“The figures today show National still has no answer.

“National’s reputation for economic management is taking a tumble, with the surplus target dissolving around them.

“That’s because the productive economy is being neglected by National,” says Grant Robertson.

“After six years of National the Treasury briefing to the incoming Minister said: ‘We think the biggest issue for the sustainability of New Zealand’s economic performance is around our stocks of financial and produced capital. New Zealand needs to reduce its foreign debt levels and shift the balance of economic activity towards the investment and export growth needed to support higher living standards (page 14)’,” says David Parker.

“Those are damning words from the Treasury.

“The Government’s target of making exports 40 per cent of GDP is in tatters. John Key and Bill English are not the great economic managers they pretend to be,” says David Parker.