WINSTON PETERS: NZ must have real growth

Opinion 25/08/2017

OPINION: Enough of National’s clap trap - NZ must have real growth

Sadly for New Zealand if we keep going down the path we’re on the proverbial is going to hit the fan.

It’s inevitable.

Steven Joyce’s opening up the books this week to see where our economy sits showed again he has wasted his time trying to be a politician.

He should be on the stage. He’s a master illusionist conjuring up surpluses, massaging figures to keep him and National in power for another three years.

All is sweetness and light, says Steve and his mates at Treasury.

But it isn’t. Our economy is not growing to anywhere near the extent he portrays.

It’s growing in the ways it shouldn’t be though with housing debt, consumer debt, business debt, agriculture debt. We are up to our eyeballs in debt to the tune of over half a trillion dollars.

The only thing giving oxygen to our stumbling economy is mass immigration which is driving up consumption.

Take out immigration and our GDP “growth” crumbles to a squeak above a pathetic 1 per cent.

That’s why behind the National government smokescreen the deeper reality can be found in our cities and out in the regions: – incomes that have flat-lined, people who can’t get homes or jobs, hospitals and schools at breaking point; over-congested roads that are falling apart.

To really grow our economy we have to grow our regions; exporters must be helped by fixing the Reserve Bank Act so the dollar works for them not the currency speculators and overseas banks; more has to be invested into research and development and training New Zealand workers; GST from international tourism must be re-invested back into the regions; new trade deals should be negotiated with Japan, the EU, UK, Britain and the old Commonwealth countries.

Mass immigration is not the answer.

But that’s the only thing Steve and Bill are hanging onto.

Rt Hon Winston Peters NZ First Leader