News about the Economy & Employment

Fairfax can’t use restructure to cut terms and conditions

The restructure and upheavals at Fairfax should not be used as an opportunity to cut journalists’ terms and conditions, Labour spokesperson for Labour Issues Iain Lees-Galloway says.

“Businesses have to adapt to new technologies and consumer demands and there is no doubt that media and journalism have been impacted by massive and rapidly accelerating change in recent years.

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Nats break health and education spending promises

National has outstanding promises of almost $1 billion to be spent on health, education and agriculture from the Future Investment Fund but has only $536 million left in the fund, says Labour’s Finance spokesperson Grant Robertson.

“John Key and Bill English promised to spend $1 billion on health, $1 billion on schools and $400 million on irrigation from the proceeds of asset sales. Budget figures show that they don’t have that money and they will fall short by hundreds of millions of dollars.

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Fonterra payout $13b black hole over 2 years

Fonterra’s dramatic cut to its forecast farmgate payout over this season and next will lead to a $13 billion black hole over two years, and shows the need for a plan to diversify the economy, says Labour’s Finance spokesperson Grant Robertson.

“The milk price payout was $8.40 last season. It is dropping to $4.40 this season and will only recover to $5.25 next season.

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Taxpayer the loser after Government folds

Steven Joyce today admitted the main exhibition hall at the New Zealand International Convention Centre is 19 per cent smaller than what was described at the time other bidders were edged out of the process, Labour’s Economic Development spokesperson David Clark says.

“The Government has insisted that any scaling down of the centre would be limited to 10 per cent. The truth is this centre is getting incrementally smaller and 10 per cent is just the latest cut.

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Final nail in coffin for Solid Energy workers

Today’s confirmation of job losses at Solid Energy’s Stockton and Spring Creek mines shows the urgent need for new economic opportunities on the West Coast, Labour’s MP for West Coast-Tasman Damien O’Connor says.

“Our economy can no longer rely on the wisdom and management of Crown-owned companies based outside our region that have a history of mistakes and failure.

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English admits new taxes on the cards

Eight months after pledging “no new taxes” at the election Bill English today admitted he would bring in more sneaky taxes along the lines of the border tax, says Labour’s Finance spokesperson Grant Robertson.

“Not only did National bring in three new taxes in the Budget, Bill English today in Parliament admitted there are more ‘user charges’ on the way, saying they would ‘continue to use them’. A user charge is a tax, pure and simple.

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What the Dickens is going on at SDHB?

Problems at the financially-strapped Southern District Health Board appear to stretch to its HR department with information obtained by Labour showing it still records staff leave entitlements using manual book-keeping methods.

“The Board’s draft 10-year plan document forecasts a cumulative deficit of $75 million in the next five to six years,” Dunedin North Labour MP David Clark says.

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Budget silent on small business

The Government has completely ignored one of the most important sectors of the economy – small and medium-sized enterprises – in Budget 2015, Labour’s Small Business spokesperson Jacinda Ardern says.

"A stunning 41 per cent of jobs were created by SMEs last year - no government should take that for granted.

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KiwiSaver cut shows no long-term plan

National’s cutting of the KiwiSaver kickstart is incredibly short-term thinking, typical of a Budget that is woefully short on ideas to generate wealth and opportunity, Labour’s Finance spokesperson Grant Robertson says.

“New Zealand’s savings rate is far too low. KiwiSaver has seen a big improvement in that rate. Cutting it off at the knees makes no sense.

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