Rt Hon Winston Peters
New Zealand First Leader
23 August 2012

Failed Government Policies Growing Economic Inequality

New Zealand First says the Government’s failed economic policies have directly contributed to low wages and record high inequality levels which are leading the country down a dead end road.

The latest Household Incomes Report shows the gap between rich and poor widened significantly last year which put inequality at its highest level ever. It also revealed a fall in average wages for the first time in about 20 years.

Rt Hon Winston Peters says the Government’s economic plan consists of flogging off our assets to foreigners.

“They are doing nothing to help our manufacturing and exporting sectors who are burdened by our seriously overvalued dollar.”

Mr Peters says it is time to ditch failed economic policies in favour of realistic initiatives such as New Zealand First’s Members Bill to amend Reserve Bank rules.

“Our Reserve Bank of New Zealand (Amending Primary Function of Bank) Amendment Bill will provide the bank with the flexibility it needs to promote growth and boost our struggling export sector by finally addressing our highly inflated dollar.

“The Bill will significantly contribute to reducing the inequality gap and provide higher wages by creating positive economic conditions to foster the growth of good paying jobs.”

ENDS

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