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Joyce heading in wrong direction on two-speed economy

Steven Joyce’s denials that New Zealand is a two-speed economy shows he is the one driving on the wrong side of the road, Labour’s Economic Development spokesperson David Clark says. 

“Moody’s rating agency has said what New Zealanders have known for some time. New Zealand has a two-speed economy, where our critical export market is tanking while our domestic market, fuelled by Auckland housing prices and the Canterbury rebuild, is propping up the economy.

“National set a target for exports to be 40 per cent of GDP but instead of increasing exports they have dropped to below 30 per cent.

“New Zealand’s regions are struggling under the two-speed economy, especially Northland which needs the export sector to be in strong health.

“With 150 jobs lost at HarvestPro in Northland it’s clear the two-speed economy is stuttering into a two-stroke economy in The North.

“It is incredibly arrogant that Steven Joyce not only ignores the facts, he ignores the people of Northland and the ratings agencies.

“Everyone apart from Steven Joyce knows we have a two-speed economy that’s hurting New Zealand. He is driving in the wrong direction. Kiwis should take the keys off him,” David Clark said.