Rank hypocrisy from king of crony capitalism

Steven Joyce’s hypocrisy is astonishing – with one hand he attacks Labour’s targeted sector support and with the other he doles out hundreds of millions of dollars in crony deals to individual multinationals and friends of the National Party, Labour’s Deputy Leader David Parker says.

“Labour’s Forestry and Wood Products Economic Upgrade released today shows what is needed to support industries in the journey from volume to value.

“You would expect Steven Joyce would get that but he clearly doesn’t. He doesn’t even understand his own Government’s policy. He just yells about interventionism and 1970s economics.

“Even his colleague Jo Goodhew today admitted National’s policies like the Primary Growth Partnership ‘pick winners’. She’s right – it’s just that the winners are National’s mates in the farming industry.
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More manufacturers closing than opening

The manufacturing sector is struggling under National as new figures show manufacturing company closures have outnumbered start-ups for the fifth year in a row, says Labour’s Finance spokesperson David Parker.

“The new Business Demography statistics show that the number of manufacturing start-ups has dropped by a quarter in five years, from over 2000 in 2008 to 1451 in 2013 – the lowest number since this series began.

“Manufacturing closures outnumbered start-ups by more than 300 this year. Manufacturing exports have fallen 10 per cent in real terms in the last year and 19 per cent in real terms since 2008.

“Respected international manufacturing economist Goran Roos will be speaking on these issues this weekend.
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Two-speed economy as exports fall by 8%

Exports have tumbled eight per cent compared to May last year, showing the Government’s attempts to rebalance the economy lie in tatters, said Labour’s Finance spokesperson David Parker and Economic Development spokesperson David Clark.

“National is creating a two-speed economy where exporters struggle but speculators flourish,” said David Parker.

“Bill English promised to rebalance the economy but this drop in exports shows he has failed, yet again. Meanwhile property speculators are having a great time in Auckland.
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Manufacturing report a blueprint for jobs

Manufacturers and exporters need a smart, active government willing to make the changes needed to create better jobs and higher wages, say Labour Leader David Shearer and Finance spokesperson David Parker.

“We need a-hands on government that’s willing to put Kiwi manufacturers first. A job in manufacturing creates between two and five jobs elsewhere in the economy,” says David Shearer.
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Two speed economy as manufacturers struggle

Manufacturing outside the primary sector continues to struggle, according to figures from the Economic Survey of Manufacturing, says Labour’s Finance spokesperson David Parker.

“The picture for manufacturing overall is stagnation. For industries outside the primary sector it is considerably worse.

“Non-primary manufacturing sales fell 0.7 per cent by value and 0.8 per cent by volume. Even including the primary sector, with an expected boost from the drought due to a need to cull more animals, total manufacturing volume fell 0.6 per cent.

“Since 2008, exports of simply and elaborately transformed manufacturing have fallen by 18.7 per cent and 16.2 per cent respectively.

“In National’s two speed economy, speculators thrive while the productive economy languishes.
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Nothing in budget tackles two-speed economy

The budget does nothing to tackle the two-speed economy that National is creating, says Labour’s Finance spokesperson David Parker.

“National’s two-speed economy is creating winners and losers. The winners are a few well, connected elites. The losers are the rest of us.

“We have two economic speeds, where exporters and manufacturers struggle, while speculators flourish.

“We have two speeds in a fairness sense, with incomes and wealth ever more concentrated in the hands of the few.
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