22 July 2002

Jim Anderton MP
Leader of the Progressive Coalition

Investors gain confidence from Coalition

The Coalition Government’s Economic, Industry and Regional Development policies have ensured that New Zealand consumer and investor confidence hasn’t followed international trends and plummeted, says Jim Anderton.

Jim Anderton, who is Economic, Industry and Regional Development Minister today welcomed the ASB Bank Quarterly Investor Confidence Survey, which indicates the highest level of confidence in the survey since the first quarter of 2000.

“The Investor Confidence Survey results are excellent and support the indicators of growth throughout the economy. This Government has worked to create greater investment confidence in New Zealand to create jobs and continuing economic wealth and this is good news. If New Zealanders are confident about investing in New Zealand and in our regions this will have positive downstream effects.

“The NZ economy overall grew 3.2 per cent in the year to the end of March on the back of strong regional growth.

“The outlook in the 2002 Pre-election Economic and Fiscal Update shows a robust economy with growth averaging around three per cent over the next four years. Unemployment will remain low, employment will increase steadily and wages will grow ahead of inflation.

“Recently I also saw figures from the Canterbury Development Corporation which indicate that Canterbury still has ‘high economic growth’, led by domestic demand and reflected in construction, house sales and retail growth.

“This Coalition Government has established strong and stable economic conditions which are benefiting all New Zealanders.

“If all New Zealand’s regions continue to grow and the current Coalition Government policies continue there is no reason why business and investor confidence can’t continue to show positive trends.

“While the National opposition say we ‘just got lucky’ with the economy it’s amazing that in nine years National never got as lucky.

“New Zealand has come a long way in two and a half years but any election results which does not deliver a stable secure government could be disastrous and reverse the progress we have made,” said Jim Anderton.

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