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News about the Economy & Employment


EQC accounts show surplus slipperiness


EQC’s annual accounts raise serious questions for the Government about how they have appeared to reach a Budget surplus by reducing EQC’s estimated liability in Canterbury by nearly $500m, says Labour’s Finance spokesperson Grant Robertson.

“The Government has been crowing about its wafer thin surplus, but reducing EQC’s estimated liability for the Canterbury earthquakes might leave the taxpayer exposed to future costs.

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Time to modernise role of Reserve Bank


The dilemma faced by the Reserve Bank Governor in setting the official cash rate highlights the need to broaden the objectives of the bank to put jobs and the overall well-being of the economy at the heart of its mandate, Labour Finance spokesperson Grant Robertson says.

“Commentators are in agreement that the Graeme Wheeler is likely to leave the official cash rate where it is tomorrow. On the basis of his current mandate that may well be justified, but with unemployment still too high the narrowness of that mandate has to be addressed.

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Baa-d behaviour or a bit of a dag?


No matter how he spins it Steven Joyce will be a laughing stock over revelations of expensive repairs to model sheep roughly treated at a government department Christmas function, Labour’s Economic Development spokesperson David Clark says.

“You couldn’t make this yarn up – Mr Joyce should be feeling sheepish.

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Labour for hire not a recipe for exploitation


Labour is supporting a call for an investigation into alleged dodgy employment practices within labour hire companies.

“FIRST Union says it has numerous reports of people employed by hire companies not receiving their minimum legal entitlements,” Labour Relations spokesperson Iain Lees-Galloway says.

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Labour Day tradition worth preserving


While Labour Day offers many working people a great opportunity to spend precious time with our families, there’s more to do before we can really celebrate about our rights at work again, Labour Relations spokesperson Iain Lees-Galloway says.

“Kiwis traditionally celebrate the 8-hour working day on Labour Day. For most people that’s a thing of the past with insecure and irregular work, long hours, and low pay becoming the norm.

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From Rock Star to Risk Watch in a year


The same bank that labelled the New Zealand economy a rock star last year has now put New Zealand on risk watch – a striking failure of economic management from National, Labour’s Finance spokesperson Grant Robertson says.

“This is a dramatic fall from grace. New Zealand is now labelled ‘one to watch’ for a possible downturn in HSBC’s latest Macro Health Check.

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Joyce’s MoBIE Empire strikes back


Steven Joyce’s MoBIE empire is going on strike in the latest department debacle to undermine the so-called Mr Fixit, Labour’s Economic Development spokesperson David Clark says.

“After spending thousands of dollars on sundecks, hair straighteners, plinths and giant TV screens, MoBIE has clearly decided it can’t afford a pay rise.

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Zoo CEO: Panda project doesn’t bear thinking about


Wellington Zoo would be ‘playing with fire’ if it pandered to the Prime Minister’s desire to house two giant pandas its CEO has warned.

“Correspondence released to Labour under the Official Information Act reveals zoo boss Karen Fifield raised alarm bells about the costs of acquiring the bears following a conversation with her counterpart at Sydney’s Taronga Zoo,” Labour’s Animal Welfare spokesperson Trevor Mallard says.

 

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Nats sacrifice Kiwis’ health and education for surplus


National’s drive for surplus has meant less investment in critical areas like health, education, housing and transport – yet John Key told Parliament today he wants the money for cycleways, Labour’s Finance spokesperson Grant Robertson says.

“The Government’s belated surplus has been partly achieved by dropping spending by $235m in education, $97m on housing and community development, $52m in health and over $300m on transport and communications.

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