National’s failure to invest in the long term, especially in innovation, skills, infrastructure and other economic development measures has been criticised by the OECD, says Labour’s Finance spokesperson Grant Robertson.
“The OECD’s latest economic forecast for New Zealand backs up Labour’s position that growth is primarily driven by record population growth and, unfortunately for National, it paints a less rosy picture than the Budget.
“Immigration and construction in Christchurch are set to tail off, leading to a slowing in growth. As the organisation says, it’s time for significant reform to restore the Kiwi dream and create opportunities for middle New Zealand.
“The major solutions are, sadly, ones the Government has refused to consider. The OECD calls for research and development tax credits to boost innovation, increasing urban infrastructure and reforming skills development.
“That’s straight out of Labour’s plan to diversify the economy, get business growing and exporting, create jobs and boost wages. There was nothing in the Budget from this increasingly arrogant Government to properly tackle these issues,” says Grant Robertson.