High dollar causing more job losses

Yet another exporter is saying the high dollar is directly responsible for job losses, news that is a terrible blow for many families, says Labour’s Finance spokesperson David Parker.

“It’s heart-breaking to see the Nuplex factories closing, I know it will be an incredibly stressful time for everyone poised to lose their job.

“The cause of these job losses is clear. The workers at Nuplex who lost their jobs today can point their finger straight at the high dollar. Nuplex’s chief executive Emery Severin put the blame on our high dollar and predicts more manufacturing will move to other countries. I agree they will go to those countries that better help exporters compete.

“Jobs are being lost everywhere in the country.

“It doesn’t have to be like this. Action can be taken help our manufacturers and exporters compete and keep these jobs for Kiwis.

“The Government won’t take action but Labour would. We would require the Reserve Bank to consider the exchange rate and other important aspects of the economy, instead of giving primacy to inflation targeting. That will help make our currency more competitive, keep exporters in business and Kiwis in jobs.”

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Author: David Parker MP

I am a List MP for the New Zealand Labour Party, and Spokesperson for Trade & Export Growth and Treaty of Waitangi Negotiations and the Shadow Attorney General

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