Poli­cies to push sav­ing and ex­ports

South Waikato News - - NEWS - By LOUISE UP­STON, Na­tional MP

NOW the New Year is well un­der way I hope you en­joyed the Christ­mas break with friends and fam­ily. Since the 2008 elec­tion, we’ve had a widerang­ing six-point pro­gramme to get faster growth and cre­ate higher-pay­ing jobs and wean the econ­omy off bor­row­ing, con­sump­tion and Govern­ment spend­ing.

Our first chal­lenge was to get through the re­ces­sion in rea­son­able shape and turn around the ap­palling fore­casts we in­her­ited – never-end­ing deficits and ever-in­creas­ing debt. We’ve done that. And we’ve main­tained superannuation, work­ing for fam­i­lies and ben­e­fits.

The next step has been build­ing poli­cies to en­cour­age sav­ings, in­vest­ment and ex­ports. For ex­am­ple, our tax­cut pack­age, our am­bi­tious in­fra­struc­ture pro­gramme and bet­ter front­line pub­lic ser­vices.

The Govern­ment tax pack­age im­proves in­cen­tives to work and save and tilts the econ­omy away from con­sump­tion and bor­row­ing. We re­formed em­ploy­ment law, ex­tend­ing the 90-day trial pe­riod for new em­ploy­ees to all busi­nesses. We put in place elec­tric­ity re­forms to im­prove re­tail com­pe­ti­tion and in­crease se­cu­rity of sup­ply. These are just a few of the ma­jor changes we have in­tro­duced to drive eco­nomic growth.

Events of the past six months – par­tic­u­larly the Can­ter­bury earth­quake and slower than ex­pected do­mes­tic re­cov­ery – have hit the Govern­ment’s books. But New Zealand’s eco­nomic growth is ex­pected to im­prove over the next few years and the books are fore­cast to be back to sur­plus by 2016.

New Zealand has done pretty well com­pared with other coun­tries – look at the chal­lenges in Bri­tain, Ire­land, Spain and the United States, where they’re fac­ing huge spend­ing cuts, tax in­creases, and soar­ing un­em­ploy­ment.

All of this re­in­forces the need for Na­tional to press on with its six-point eco­nomic pro­gramme to build faster and more sus­tain­able, eco­nomic growth.

The year 2011 is go­ing to be an­other busy year. The Bud­get will out­line the next steps in the Govern­ment’s pro­gramme to lift eco­nomic growth with a fo­cus on boost­ing na­tional sav­ings and re­duc­ing the coun­try’s re­liance on for­eign debt.

Na­tional will con­tinue to fo­cus on the is­sues that mat­ter to vot­ers – the econ­omy, law and or­der, health and ed­u­ca­tion. And it will keep work­ing to se­cure a brighter fu­ture for con­stituents and their fam­i­lies.

The South Waikato elec­torate of­fice is at level 1, 22-24 Bridge St, Toko­roa, and is open Mon­day, Tues­day and Fri­day. There is a room avail­able on the ground floor for meet­ings. Please con­tact the of­fice on 07 866 5554 or up­ston.sth­waikato@par­lia­ment.govt.nz if you have any con­cerns.

Photo: FILE

PATCH BAN: Gang re­galia has been banned from Toko­roa Hos­pi­tal.

LOUISE UP­STON

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