Belated recovery has bypassed most Kiwis

Five years on from a recession, with a $40 billion rebuild and the best terms of trade in 40 years, it is no surprise there is economic growth but it is not attributable to the Government, says Labour’s Finance spokesperson David Parker.

“National will just scrape into surplus next year primarily by overcharging New Zealanders for their ACC levies. Labour ran nine surpluses in a row and left zero net debt, and is committed to a return to surplus.

“The duty of Government is to ensure all Kiwis benefit. The real secret of these forecasts is National has overlooked the interests of the vast majority of New Zealanders.
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There really was a double dip recession!

New figures show New Zealand endured a double-dip recession in 2010, at the same time as National’s ‘tax-switch’ that raised GST came into force, says Labour’s Finance spokesperson David Parker.
“Historical revisions to GDP published today now show that New Zealand endured a ‘double dip’ recession in the second half of 2010 with -0.3% growth in both the third and fourth quarters of 2010.
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