Government to get on with investment

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Government to get on with investment

3News NZ

Finance Minister Bill English (file)

Finance Minister Bill English (file)

The Government is getting on with investment in infrastructure and housing and policies that help business, Finance Minister Bill English said in the aftermath of a shock unemployment report.

Opposition parties have called for urgent government action to create jobs after the unemployment rate unexpectedly rose by half a percentage point to 7.3 percent in the September quarter, the highest level in 13 years.

Mr English told TV3's The Nation programme this morning that the Government had spent about $50 billion in supporting the economy through a downturn and it could not keep doing that.

But he added: "What we've seen this week just encourages the Government to get on with its policies such as investment in infrastructure, getting its own house building going, supporting businesses to help them create jobs because it's tough out there in the job market, particularly for young people."

He said the rise in unemployment was out of line with other economic indicators.

The unemployment report last week showed a significant increase in unemployment in Auckland but the numbers of people on the unemployment benefit in Auckland was dropping.

In the last three years the New Zealand economy had picked up to moderate growth rates.

"We are seeing businesses and sectors that are doing reasonably well, others that are struggling but we're on track for 2 to 3 percent growth and that means more new jobs," he said.

"This is a grinding recovery," he said.

Earlier Prime Minister John Key said the Government was not going to change its policies.

"We are on the right track in our view," Mr Key told reporters on Thursday.

The New Zealand economy expanded by 2 percent in the year ended June 2012, which was the biggest annual increase since the year ended March 2008, Statistics New Zealand said in September.

NZN

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Comments

27/11/2012 4:15:15 p.m.

bai reyhan pinguiaman wrote:

like it !!!!!!!

21/11/2012 3:15:54 p.m.

Greg wrote:

If you want to help the economy John n Bill, freeze kiwisaver payments, cut the WFF con and introduce split income tax for cuoples. Make the first 15000 income tax free. Workers spending creates the economy, tinkering with tax distrubitions cost more than its worth because you have to borrow it. Start advocating employers begin offering wage rises above inflation. Einstein said instanity is to keep do the same thing over and over and expect the different results'. Put some new idea's in place that will grow the economy not knee cap it. Why do I feel like Im watching the dynamic duo, Batman and Robin, a American TV series from the 1970's, sigh.

20/11/2012 8:05:40 p.m.

Just Me wrote:

Methinks both Key and English are totally convinced the earth is flat. And the 'view' express by Key is probably observed from his rear-view mirror as he heads off into the blue yonder. This National government obviously comprises of the most out-of-touch-of-total-reality bunch of over-paid underworked free-loaders. As long as they(the National government)are not unemployed those unemployed or on low incomes are not their concerns.This government would rather associate with big businesses than shaking hands with the 'great unwashed' as one National Party supporter refers to those on the lower-socio-economic pay brackets. The only usefulness those poor have to National is only in election time.Outside of that time-frame then they are taxed to the hilt.Such a shame this government values the low-paid so poorly.

18/11/2012 2:07:24 p.m.

bernard wrote:

what investment there is no investment, he has the record to prove he is the worst minister of finance since the great depression .the only thing they invest in is sleezey rich hooker loving rich people from overseas comming to sky city to spend their workers rightfull wages.

10/11/2012 5:21:58 p.m.

Daniel wrote:

Lemme see. Invest in infrastructure only to sell it overseas or invest in Private Partnership Projects and spend many times more in service contract fees than the cost of the entire infrastructure. (Both yield handsome kickbacks to the politicians.)

10/11/2012 3:50:28 p.m.

pat wrote:

Key/English,"I know nothing,I see nothing,I hear nothing"

10/11/2012 3:49:10 p.m.

Kathy wrote:

Bill English the former bumbling leader of the National Party who was replaced because of his lack of dignity, lack of skills, and lack of integrity and because he kept putting his foot in his mouth. Who when National first came to power was discovered to be deliberately stealing from tax payers by claiming a housing allowance on a house his own family trust owned. We are supposed to believe a man such as this?. Or do we believe John Key? a man who has lied to us over and over and over again. A man that has shown himself to be aegist, sexist, elitest and homophobic and has insulted more oversease governments than any other former Prime Minister in New Zealands history. These two clown have absolutely no idea what they are doing at all.

10/11/2012 12:48:53 p.m.

Robert wrote:

ENGLISH : "What we've seen this week just encourages the Government to get on with its policies" KEY : "We are on the right track in our view"...Oh, dear! These two sound like two clueless arrogant nitwits.

10/11/2012 11:24:33 a.m.

Phil wrote:

If you always do what you've always done, then you'll always get what you've always got.