Meanwhile the economy…

Written By: - Date published: 10:54 am, March 23rd, 2012 - 15 comments
Categories: economy, jobs, national - Tags: , ,

National is having a pretty horrid time of it just now. Key’s failure to lead on Nick Smith, industrial disputes everywhere, making a mess of MFAT, falling popularity, and so on.

But if there is one silver lining for the Nats, it is that the high-profile headlines take the focus of the boring old economy:

Economy wound back 7yrs says NZIER

The economy is back where it was in 2005, with nothing to show for the past seven years. That is the conclusion from the Institute of Economic Research which has replicated the Economist’s Proust index for New Zealand.

Real gross domestic product per capita, for example, is back where it was in 2005. It got higher than that before the recession, but lower than that subsequently.

Private consumption, again in real per capita terms, is only just back to where it was four years ago. Real returns on equities have nothing to show for the past eight years, while real house prices are back where they were six years ago.

Real wages have slipped back to where they were three years ago. And the unemployment rate over the past couple of years has wobbled around a level previously not seen since the year 2000.

Lot’s of countries are going backwards, but in 2008 National promised us they had a plan. Every budget has predicted growth and new jobs. Instead we get excuses:

English defends slow GDP growth

Finance Minister Bill English is defending a slowdown in the economy, saying New Zealand is better off than many other countries despite a poor gross domestic product (GDP) result.

GDP grew by just 0.3 per cent in the December quarter – down from 0.7 percent growth in the September quarter, Statistics New Zealand said on Thursday. Economists had expected 0.6 percent growth in the fourth quarter. …

Manufacturing fell 2.5 percent, mainly due to a decline in primary food manufacturing.
Mr English says the December quarter was challenging as households saved more and spent less, as well as tough economic conditions around the world. …

“Agriculture is again providing the bulk of the impetus for growth in the New Zealand economy while manufacturing continues to decline and with it the opportunity to export high value-added products,” Greens co-leader Russel Norman says. “One of the key measures of a more resilient and competitive economy is the number of firms exporting. Under the National government, the number of companies exporting has stagnated.” Both Labour and the Greens say the government’s focus on partial asset sales is distracting it from fixing structural problems in the economy.

Brighter future my arse. Here’s an honest slogan for National to run under next election.
“National – because we’re not as bad as some countries”. Please make your own suggestions in comments…

15 comments on “Meanwhile the economy…”

  1. Bill english is lamenting the fact that 1000 people are going off unemployment benefit
    and finding jobs,what! they are going to aussie,perhaps he need to be investigated for
    lies as well.
    These nat clowns are driving the economy into the abiss.

  2. Tombstone 2

    National: We keep on bullshitting because the people keep on believing it.

  3. bbfloyd 3

    vote national.. our record is better than libya’s..

  4. mac1 4

    “National- only in name, not in nature.”

  5. McFlock 5

    “National – ok, so the future’s not actually brighter, but at least it’s almost as bright as it was before we got started”

  6. Reality Bytes 6

    National: Look here’s a picture of John Key.

  7. aerobubble 7

    The supreme court must be party party right now, the Surveillance Bill will be a huge work load for them. Woe the MP that said the SS law was well balanced, it looks set to be tested in many areas of national life. From the press, to criminality, and mums and dads wonder if getting naked and running out the home is a good idea… ..maybe even finding their video up on utube when a disgruntaled pig industry bureaucrat leaks it.

    Worse. What about all those govt leaks, will leakers need journalists to sign a contract that they will go to jail rather than leak the information!!!

  8. tc 8

    Vote National. Ballot papers are traceable, just in case you didn’t know.
    National. Accountability for you, beemers for us.
    National. Mine it, drill it, sell it yeah !

  9. bad12 9

    Vote National so you can all learn why thats a really really stupid thing to do…

  10. Dr Terry 10

    Bill English is an authority on “excuses”, soon he will write the book! (I guess!) I guess he is still carrying on with his guessing. Recently, he seems to be laying off the Christchurch excuse (people might look at the government’s lamentable behaviour). Even the Europe excuse is wearing thin. Guessing is easier, because whatever happens he can say he was right all the time! Now we are hearing that we are better off than some countries (which exactly? Third world countries?) Why are we not as “well off” as some countries? We ought to be now that we are enjoying “a brighter future”!

  11. Blue 11

    Vote National, we have really good excuses!

  12. irascible 12

    Vote National – for a greater joyce remember our key policy is that we don’t speak straight english.

  13. Akldnut 13

    “Vote National, we’ve got figures to prove we’re doing what we promised.”

  14. NZSucks 14

    National – we’re closing the gap.. with Kazakhstan

Recent Comments

Recent Posts

  • Reducing road deaths a priority for Labour
      Labour’s transport policy prioritises action to cut the rapidly rising death toll on our roads, says Labour’s Transport spokesperson Michael Wood, after new figures show the road toll on track to increase for the fourth consecutive year.  “We simply ...
    7 hours ago
  • Labour to build starter homes and state houses in Palmerston North
    Labour will build 149 homes – a mix of KiwiBuild starter homes for first homebuyers and state houses – on land that National has left vacant for years, says Leader of the Opposition Jacinda Ardern. “Palmerston North is a growing, ...
    1 day ago
  • A Green deal for small business
    Behind the rhetoric of being ‘business-friendly’, the National government has prioritised the interests of big business and foreign corporations over small business. The Green Party considers that small and medium enterprises (SMEs) are the backbone of our economy, opportunities, and ...
    GreensBy Barry Coates
    2 days ago
  • Labour’s transport plan will get New Zealand moving
    Labour’s transport policy will create an integrated, 21st century transport system to move people and freight around New Zealand. As a priority we will act to immediately stop work on National’s plan to de-electrify the North Island Main Trunk Line, ...
    2 days ago
  • Farming leaders pledge to clean up New Zealand rivers
    Labour welcomes a pledge by the Farmers Leaders Group to make New Zealand’s rivers swimmable for our children and grandchildren, says Labour’s Water spokesperson David Parker.   “The farmers’ leaders say they have come together for the first time to ...
    2 days ago
  • Labour pays tribute to Peter Dunne
    Leader of the Opposition Jacinda Ardern has today paid tribute to United Future leader Peter Dunne, who announced he would no longer be standing in the 2017 General Election. “Today I acknowledge the significant contribution by Peter Dunne over 33 ...
    3 days ago
  • Labour is the only party with a plan to fix teacher shortage
    Only Labour has a comprehensive plan to fix the critical shortage of teachers that is already hampering our schools and is set to get worse after nine years of inaction by the National Government, says Labour’s Education spokesperson Chris Hipkins. ...
    3 days ago
  • Labour to invest in regional road rail
    Labour will invest in a rapid rail network connecting Auckland, Hamilton, and Tauranga, and double funding to help complete important regional roading projects, says Leader of the Opposition Jacinda Ardern.  “The ‘Golden Triangle’ of Auckland, Hamilton, and Tauranga contains half ...
    3 days ago
  • Rattled Nats announce slapdash roads policy
      The Government rattled by the polls, has announced a poorly thought through slapdash policy for new Roads of National Significance, says Labour’s Transport spokesperson Michael Wood.  “There is a complete lack of any answers in National’s plan to build ...
    4 days ago
  • Let’s do this – Labour’s election campaign launched
    The Government I lead will be a government that listens, then acts. A Government that leads, not follows, says Labour Leader Jacinda Ardern at the launch of the Labour Party’s 2017 election campaign at a packed Auckland Town Hall. “I ...
    4 days ago
  • Government must apologise over rebuild debacle
    The Prime Minister owes the public of Otago and Southland an apology and then he must come up with an unredacted copy of the business case for the Dunedin hospital rebuild, says Labour’s Health spokesperson David Clark. "For too long the interests of ...
    6 days ago
  • Government caves to multi-national tax avoiders in the shadows
    News that the Government has secretly caved in to the demands of multi-national tax avoiders come as no surprise, but will disappoint Kiwi taxpayers, says Labour’s spokesman for Revenue Michael Wood.   “It has been revealed that a United States ...
    7 days ago
  • Cheaper to stay at The Langham than emergency housing motels
    Labour’s comprehensive plan to fix the housing crisis and ensure there’s enough state housing, means we won’t be paying through the nose for emergency accommodation like the current Government has to, says Labour’s Social Development spokesperson Carmel Sepuloni. “National has ...
    1 week ago
  • Government must come clean on water
      News that the National Government is secretly working behind closed doors on its own water charging schemes shows their utter hypocrisy on this issue, says Labour’s water spokesperson David Parker.  “They have been carping on about Labour’s plan for ...
    1 week ago
  • Government pays twice the price for emergency housing motels – with two more on the way
    Under Labour’s plan to build at least 1000 state houses each year, New Zealand wouldn’t be paying more than double the valuations for motels to house Kiwis needing emergency housing, says Labour’s Social Development spokesperson Carmel Sepuloni. “Under questioning today, ...
    1 week ago
  • HAM shows country needs Labour on housing
    The latest Housing Affordability Measure report shows affordability dramatically worsening for Auckland first home buyers, says Labour’s Housing spokesperson Phil Twyford. ...
    1 week ago
  • Canterbury kids get more support for mental health
    Children in Canterbury and Kaikoura will get dedicated mental health support to help them overcome the trauma of the earthquakes, says the Leader of the Opposition Jacinda Ardern. “We’ll fund an extra eighty mental health professionals for the next three ...
    1 week ago
  • Statement on Julie Bishop’s comments
    It is highly regrettable that the Australian Foreign Minister Julie Bishop has chosen to make false claims about the New Zealand Labour Party. I have been utterly transparent about this situation. I stand by my statements this morning that I ...
    1 week ago
  • Labour stands with Pike families
    A Labour Government will stand with the families of Pike River and reaffirm its commitment to safe workplaces by ensuring there will be a Minister responsible for Pike River, says Leader of the Opposition Jacinda Ardern. “The Pike River disaster ...
    1 week ago
  • Yes to Sallies – Labour will build more state houses
    The Salvation Army’s latest report ‘Taking Stock’ shows why New Zealand needs a Labour-led Government committed to a massive house building programme, says Labour’s Housing spokesperson Phil Twyford. “When the Sallies say the country needs 2000 extra state houses a ...
    1 week ago
  • New Zealanders deserve better than scaremongering over water
    New Zealanders need to hear from National about how they will fund the clean-up of our rivers and lakes for future generations. Instead, National has broadened its scare-mongering, says Labour’s Water spokesperson David Parker. ...
    1 week ago
  • School Leavers’ Toolkit to equip young people for adult life
    Labour will give school leavers the practical skills and knowledge they need for adult life with a new School Leavers’ Toolkit, says Leader of the Opposition Jacinda Ardern. “Our teachers and schools do a great job of teaching our children ...
    1 week ago
  • Pay equity to be a priority for Labour
      Labour will make sure that the country’s mental health workers are a priority when it comes to pay equity negotiations, says the Leader of the Opposition Jacinda Ardern.  “It is very important for me to right the wrong created ...
    2 weeks ago
  • Labour’s positive education plan
    Today’s announcement on learning support is more tinkering and proof that only a Labour Government will deliver the resources that schools and parents are crying out for, says Labour’s Education spokesperson Chris Hipkins.  “We have a positive vision for a ...
    2 weeks ago
  • Pike footage raises questions over government’s actions
    The Government’s seeming determination to turn a blind eye to new questions about what happened at Pike River Mine is troubling, says Labour’s West Coast-Tasman MP Damien O’Connor. ...
    2 weeks ago
  • Solution to rent rises lies in building houses and stopping speculators
    The spread of rental increases from the big cities to the surrounding regions shows why we need to get on top of the housing shortage build homes our families can afford, and lock out the speculators, says Labour’s Housing spokesperson ...
    2 weeks ago
  • Clean rivers don’t cost $18 a cabbage
    National is falling into a bad pattern of promising the world and not saying how they will fund it, says Labour’s Water spokesperson David Parker. ...
    2 weeks ago
  • Time for honest answer on transport funding
    National needs to explain how they will fund the $6 billion funding gap in their 10-year Auckland transport plan, says Labour’s Auckland Issues spokesperson Phil Twyford. ...
    2 weeks ago
  • Time for true numbers on overseas speculators
    It’s time for the Government to give accurate figures on the number of houses being bought by overseas speculators, says Labour’s Land Information spokesperson Raymond Huo. ...
    2 weeks ago
  • Fair and sustainable trade: A Green Party vision for New Zealand’s trading relationships
    Trade is a cornerstone of the New Zealand economy. It provides us with the things we want and need, and enables us to pay for those with exports that generate business opportunities and jobs. However, it should be recognised that ...
    GreensBy Barry Coates
    2 weeks ago
  • Clean rivers for future generations
    Labour will lead a nationwide effort to restore our rivers and lakes to a clean, swimmable state, says Leader of the Opposition Jacinda Ardern. ...
    2 weeks ago
  • New Zealand really can do better on health
    Labour’s commitment to affordable access to high quality healthcare will provide a better service for New Zealanders than the current Health Minister, who will not apologise for statements that he made that wrongly criticised hard-working staff in the Southern DHB’s ...
    2 weeks ago
  • Labour’s plan the answer to motorway chaos
    Labour’s plan to build a light rail network and improve heavy rail and bus services across Auckland is the only answer to the kind of motorway congestion Aucklanders endured this morning, says Labour Transport spokesperson Phil Twyford. ...
    2 weeks ago
  • Labour to build rail to Auckland Airport
    A world class city needs a rail connection from the CBD to its international airport – that’s why Labour will build light rail to Auckland Airport as a priority, says Leader of the Opposition Jacinda Ardern.  “Let’s get Auckland moving ...
    3 weeks ago
  • Is pay equity just too hard for this Govt?
    You are hard pressed these days to find someone that openly admits their misogyny, that men should still be paid more than women. Politicians proclaim that they want to see women paid more, but do their actions back it up? ...
    GreensBy Jan Logie
    3 weeks ago
  • Labour’s commitment to our Rainbow nation
    The Labour Party has reaffirmed its commitment to New Zealand’s rainbow community with its 2017 Rainbow policy, featuring the goal to end HIV in New Zealand by 2025. Grant Robertson says Labour continues a long and proud tradition of advocating ...
    3 weeks ago
  • Labour’s vision for Auckland more than reheated roads
    Labour is more ambitious for Auckland than the reheated set of transport projects proposed by National, says Labour’s Auckland Issues spokesperson Phil Twyford. ...
    3 weeks ago
  • Waiting urology patients are the tip of the iceberg
    The 10 patients waiting for urology surgery at Dunedin Hospital are just the tip of the iceberg, says Labour’s Health spokesperson David Clark.  "Hundreds of patients are waiting for follow-up appointments, but they are not deemed serious enough to be ...
    3 weeks ago
  • Maori Landowners Misled by Maori Party
    Māori landowners are being misled by Government hui being held throughout the country promoting the troubled Māori Land Service (MLS), which underpins the Crown’s unpopular Ture Whenua reforms, says Labour’s Ikaroa-Rāwhiti MP Meka Whaitiri. ...
    3 weeks ago

%d bloggers like this: