Key Notes - Encouraging signs from GDP growth
21 September 2012
In this
issue:
Encouraging signs from GDP
growth
Backing LSV graduates into work
Reforming
welfare
The Chathams
Click here to watch my latest video journal
on YouTube. Encouraging signs from GDP
growth
Economic figures out yesterday confirm
that New Zealand is well placed economically, despite
uncertainty in other parts of the world. In the three months to June, our economy
grew by 0.6 per cent. This takes annual growth to 2.6
per cent - the highest rate since 2007, which is great news.
While I was attending APEC last week, I spoke to other world leaders, and got a sense of the on-going economic uncertainty in many parts of the world. In the first half of 2012, New Zealand has grown faster than the United States, Japan, Canada, the UK, and the Euro area.
New Zealand's rate of GDP growth, which is the highest we've seen since before the domestic recession and the Global Financial Crisis, confirms our economic plans are having a positive effect on New Zealand businesses and households. We expect solid growth to continue over the next few years.
Our plan to put the right economic conditions in place that will give businesses the confidence to invest, take on new staff, and compete in the global marketplace is even more important in the face of on-going uncertainty. We are continuing to make good progress towards building a more productive and competitive economy - one of our four priorities for this term in office.
Backing LSV graduates into
work
Yesterday I visited the Limited Services
Volunteers (LSV) course at Trentham Military Camp in
Wellington. LSV is a six-week course provided by the
Defence Force for 18-25 year olds, who have been on a
benefit for six months or more.
The Government has invested $36 million over the past four years to provide 6940 more places in LSV, because we believe it does help our young people turn their lives around, and they come out motivated and ready to work. The LSV programme is similar to basic military training, and provides a unique mix of fitness, personal presentation and other employment-focused activities.
The next step for LSV graduates is to find work, and I want to encourage more employers to take on a young person and give them an opportunity to prove themselves in a job when they graduate.
To help with this, this week I've written to around 175 employers asking them to take on an LSV graduate. I've spoken to employers across the country who have been delighted with the LSV graduates they've hired. I'm also reminding employers that subsidies are available through the National-led Government's Job Streams initiative to help them employ someone.
You can read my press release here.
Reforming welfare
This week, the
Government has introduced a Bill to Parliament which will
enable the next phase of our Welfare Reforms. We campaigned
on redesigning the welfare system at the last election. We
believe those who can work should work. At the same time,
support is still there for New Zealanders in need.
Our changes alter the obligations we have for beneficiaries. And we're simplifying the current seven main types of benefit into three - Jobseeker Support, Sole Parent Support, and the Supported Living Payment. These changes to the benefit system will come into effect in July next year.
Did you miss these important
stories?
• New Public Protection Orders will keep the
highest risk offenders behind bars if they are considered a
threat to the Public.
• I announced the first details of the visit
to New Zealand by The Prince of Wales and The Duchess of
Cornwall in November.
• New Zealand will host the next round of the
Trans-Pacific Partnership negotiations.
From
my diary
Today I've been in the Chatham Islands
for a great visit to this very special part of our country.
This is my first visit to the Chathams, and I've enjoyed the
chance to meet locals and discuss some of the issues they
are facing. I've also enjoyed the opportunity to sample the
delicious crayfish the Chathams are famous for.
This
weekend I am in Auckland. It will be good to catch up with
the United States Secretary of Defense, Leon Panetta. Next
week I'll be back in Wellington for another week in
Parliament.
Regards,
John Key
Prime
Minister
www.johnkey.co.nz