STABILITY AND CERTAINTY

  • Winston Peters
Treasurer

The Government's economic policies were giving the export sector the stability and certainty it needed to make investment decisions, the Treasurer Hon. Winston Peters, said today in response to an Australian and New Zealand union report on the state of New Zealand manufacturing.

The value of the New Zealand dollar had been stable since the beginning of the year, interest and inflation rates were falling and the Government's fiscal position was very strong.

"Even at the bottom of the current economic slowdown, economic growth remains above 2 per cent, higher than the average growth New Zealand experienced during the late 1970s and 1980s," Mr Peters said.

"If the critics of Government policies are seeking some sort of pump-priming exercise, they had better realise that would be thoroughly bad for the export sector in the long term."

Mr Peters said the Government was working on reducing compliance costs faced by businesses and those benefits would flow on to the country's wealth creators.

Mr Peters pointed out that in the first four months of this year, the value of manufactured exports had risen 30 per cent to $409 million, while the value of metal exports had risen nearly 25 per cent to $129 million.