EMBARGOED 1:00 am 4 November 2008 Media Statement

Labour supports strong, sustainable agriculture sector

The Labour Party in government is delivering policies that promote a strong, sustainable future for our primary industries, the party's Finance and Rural Affairs spokespeople said today when welcoming the publication of Federated Farmers' 2008 Election Manifesto.

"The Labour Party congratulates Federated Farmers of New Zealand for the effort and thoroughness of their 2008 General Election Manifesto published today.

"Labour is committed to raising the value of New Zealand merchandise exports as a proportion of our economy over time, and there is absolutely no question that the primary industries must play a vital role in that endeavour.

"While there are differences in approach on some issues between the New Zealand Labour Party and Federated Farmers, those differences are in the nature of a rational discussion between two parties committed to this country's best long-term interests," Dr Cullen and Mr O'Connor said.

Labour Party policies that are being implemented by the government to assist to elevate our primary industries onto a higher value chain include:

 Labour slashed the corporate tax rate to 30 percent on April 1 (from 33 per cent);
 Labour in April introduced a 15 per cent research and development tax credit (this is a tax cut on our innovative New Zealand-based firms);
 Labour has successfully initiated the most ambitious set of bilateral and multilateral agreements which has lowered overseas' unfair barriers on our exports to the Asia Pacific region;
 Labour unveiled an unprecedented level of investment in new research, development and innovation for New Zealand's pastoral and food industries when it earlier this year launched the New Zealand Fast Forward Fund;
 Labour in government has re-vitalised regional economies by working alongside the private sector, regional government and community organisations to promote industry and regional development;

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