A claim by John Key that cutting the KiwiSaver kickstart “will not make a blind bit of difference to the number of people who join KiwiSaver” has been shown to be false in Budget documents released yesterday, says Labour’s Finance spokesperson Grant Robertson.
“The papers reveal the Inland Revenue advised the Government that cutting the kickstart would lead to ‘lower numbers of KiwiSaver members among the self-employed and children’. Despite this advice, the Prime Minister was happy to tell Parliament the ‘formal advice’ from IRD had told him the opposite.
Thank you for the opportunity to be here today, it’s always a pleasure to be in sunny Nelson, more so given the Antarctic conditions currently gripping other parts of New Zealand.
On my last visit to Nelson I had the pleasure of spending some time with Chris and Andrew Rodley at SNAPIT HD. I am sure many of you are familiar with their incredible 360 degree camera technology that is being used in everything from traffic management to construction to fisheries.
The bad news for the New Zealand economy got worse this morning with the 8th successive drop in dairy prices at this morning’s global dairy auction, again exposing the absence of any Plan B from the National Government, Labour’s Finance spokesperson Grant Robertson says.
“Dairy prices have fallen another 5.9 per cent overnight, down 34 per cent since March and falling 57 per cent since last year’s peak. Prices are now at their lowest level in six years.
DIpping confidence about jobs, wages and shrinking exports are highlighting the lack of a plan from the government to diversify the economy and build sustainable growth, Grant Robertson Labour’s Finance Spokesperson said.
" Data released over the last week shows that people are losing confidence in the economy on the back of plummeting dairy prices. The failure of the National government to diversify and create new opportunities is adding to the pessimistic environment.
The Government quickly needs a plan to diversify our economy after new figures show that exports are continuing to fall due to the collapse in dairy exports, Labour's Finance Spokesperson Grant Robertson says.
“Dairy exports fell 28 per cent compared to May last year, dragging total export values down by 5 per cent. This is a further blow to our economy which relies on increasing the value of exports to create jobs and boost wages.
The Treasury wouldn’t have had to warn the Reserve Bank to stick to its core functions if the Government had taken prompt and substantial measures to rein in skyrocketing Auckland house prices, Labour’s Finance spokesperson Grant Robertson says.
“The problems for the Government don’t end there with the Reserve Bank’s Statement of Intent today confirming it may have to take further action on the financial instability risk posed by Auckland’s ‘population growth, low mortgage interest rates and increased investor participation’.