3 May 2002
Finance Minister Michael Cullen today welcomed the latest OECD economic survey of New Zealand saying it assumed
continuing good growth.
“The OECD is picking that the economy will grow 2.7 percent this year and 3.5 percent next year. That is a solid
performance, especially given the uncertain global outlook
“The OECD report also paints a positive fiscal picture, observing that the government is on track to achieve its fiscal
targets. It describes the New Zealand Superannuation Fund as “a useful step,” says net debt is likely to continue
falling in relation to GDP and says the government has made various improvements of late to a regulatory framework which
was already “relatively sound.”
“These are all important endorsements.
“The OECD and the government are in broad agreement on the challenges facing New Zealand and agree on some of the
solutions, including the need to foster innovation and an active research culture.
“However we continue to have strong points of policy difference. The Labour-Alliance government, for example, will not
privatise ACC, cut benefits, introduce a voucher system for tertiary education or impose a capital gains tax on
housing,” Dr Cullen said.
Ends