New Zealand Labour Party

Accounts confirm time for action from Mr Complacent

The latest Government accounts show it’s time for Bill English to stop being so complacent and take action on the economy, says Labour’s Finance spokesperson Grant Robertson.


“Not only is the deficit almost $100m higher than forecast, creating an $889m deficit, corporate tax was down by $240m.

“Bill English keeps complacently claiming the economy is humming along. But lower tax revenues, especially from corporates, shows it’s actually stuttering.


“That’s why Bill English has to stop being so complacent. Just this week he said ‘there’s no reason to change policy’ even though he conceded that there is increased concern about the state of the global economy.


“The banks are concerned about dairy prices and farmers, the Reserve Bank Governor is worried about lack of stimulus and commentators are nervous there’s no attempt from National to shift up a gear.


“Bill English is becoming a minority of one.


“This year is set to be the most volatile in almost a decade. Mr English needs to get ahead of the game, not play catch up.


“National needs to bring forward more infrastructure projects. It needs to take urgent action to diversify the economy away from dairy and speculation in 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.