This afternoon the New Zealand dollar fell to its lowest level in history of 39.99 US cents, said ACT Leader, Hon
Richard Prebble.
“The level of the Kiwi is near crisis level.
“New Zealand is paying a very high price for anti-business laws like the Employment Relations Act. Inflation is about to
break 3%, 17,995 New Zealanders have been unemployed for a year or more, record numbers of New Zealanders are leaving
for good, Reserve Bank Governor, Dr Don Brash, has warned of stagflation and a further contraction of the economy, and
the price of a Big Mac combo has risen.
“Michael Cullen can not continue to blame the flow on effects of a German business confidence survey for our dollars
perilous state.
“ACT has been told by the financial market that foreign investors are not investing in New Zealand. This is compounded
by the fact that thousands of New Zealanders continue to take their money off shore.
“Statements like ‘we won, you lost, eat it’, from the Finance Minister do enormous damage to the economy. It’s time for
the coalition to accept that it’s policies are not working.
“It is time to do a U-turn to get the country back on track,” said Hon Richard Prebble.
ENDS
For more information visit ACT online at http://www.act.org.nz or contact the ACT Parliamentary Office at
act@parliament.govt.nz.