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StatisticsNZ Confirms Economy Treading Water

By   /  August 17, 2017  /  Comments Off on StatisticsNZ Confirms Economy Treading Water

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MIL OSI – Source: New Zealand First – Release/Statement

Headline: StatisticsNZ Confirms Economy Treading Water

New Zealand First says National’s economic skills are an illusion, with StatisticsNZ revealing the productive economy to be barely moving while wage growth stagnates.

“The New Zealand economy is treading water and that’s backed by StatisticsNZ’s Producers Price Indexes,” says New Zealand First Leader and Member of Parliament for Northland, Rt Hon Winston Peters.

“In fact the quip, ‘all smoke and no hangi,’ can now be applied to National’s illusionary economic management. In the year to June, our producers saw overall output rise only 0.5% over what went in as inputs.  0.5% is barely any progress whatsoever.

“But as a warning to those who want to tax our farmers into the Stone Age, the government’s blushes were only saved by the backbone – primary industries and mining.  We warn other parties, National and Labour especially, that their water policies are too reckless to risk   

“So despite an urban National-led government’s indifference and obsession with Auckland, our primary industries and mining just got on with it.

“But Kiwi workers who are working their tails off to make ends meet know, that no matter how long or hard they work they’re not getting ahead either.  Today’s release confirms that with wage and salary growth of 1.7% in the year to June was negated by inflation of 1.7%.

“That’s a direct result of open-door immigration, which has depressed wage growth so that honest Kiwis are now working harder just to stand still.

“Delivering for New Zealand?’  More like National and its Klingons delivering very little,” says Mr Peters.

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