Business confidence in the latest NZIER Quarterly Survey of Business Opinion falling to its lowest level in three years is yet another warning of a staggering economy that cannot be ignored, says Labour's leader Andrew Little.
“This comes on the back of dairy prices falling by a third since March, plummeting wage and employment expectations and a big drop in exports.
“John Key and National have been complacent and squandered the opportunities they had to diversify the economy through a period of good growth.
“It is disturbing that the survey has also revealed that business confidence is falling across the country with dairy producing regions like Canterbury ,Waikato and Southland the worst hit.
“Despite the Auckland housing bubble business confidence has also fallen, to its lowest in three years.
“Now is not the time for back sliding and spin, the Government has to take responsibility and support businesses and workers through these headwinds.
“It is worrying that the Government has become so distracted with political obsessions like the state house sell-off and a frivolous flag referendum that they have let the economy slide,” says Andrew Little.