Despite admitting global economic conditions are worsening, Bill English is seemingly unwilling to do anything to prepare the economy from outside shocks, says Labour’s Finance spokesperson Grant Robertson.
“At Select Committee today Bill English said ‘there’s no reason to change policy’ even though he conceded that there is increased concern about the state of the global economy.
“He also appeared unfazed that New Zealand’s Australian parent banks are getting more and more concerned about the prospect of a third straight year of negative profits for farmers, especially those that are highly indebted.
“Bill English is being far too complacent. When asked about the falling international stockmarkets, plunging dairy prices, zero per cent per capita growth, Mr English was way too relaxed.
“This year is set to be the most volatile in almost a decade. Bill English needs to get ahead of the game, not play catch up. The Government needs to take action, not stand by on the sidelines and watch the monthly reports roll in.
“National needs to bring forward more infrastructure projects. It needs to take urgent action to diversify the economy away from dairy and the Auckland housing market.
“New Zealanders need a government that is an active partner in growing the economy, keeping the Kiwi dream alive and preparing for the future, not the bunch of distracted bystanders we currently have,” says Grant Robertson.