11 August 2006
CTU President Hopes Cameron Bagrie Joins the Unemployment Queue Himself
"If Cameron Bagrie's wishes come true I hope he himself is one of the workers that he wants to put out of a job and
join the unemployment queue," CTU president Ross Wilson said today.
ANZ Chief Economist Cameron Bagrie was reported on Radio New Zealand this morning as saying that in order to curb
inflation, it may be better if unemployment rises.
"I've had a gutsful of this ivory tower approach from economists at foreign owned banks talking as though they own the
economy," Ross Wilson said.
"The economy is not there for its own benefit, it is there for the benefit all New Zealanders."
"There is no evidence that low unemployment is driving up inflation compared with petrol prices for instance."
"In March 2000 another major bank Westpac described 6.3% unemployment as "worryingly low". Does Cameron Bagrie share
this view and want to see unemployment go up to this level?"
"These are real people Mr Bagrie is talking about. I challenge him to front up to the existing 79,000 people out of
work, and explain to them why he thinks they should be joined by more people."
"We are still suffering the social effects of high unemployment from the 1980s and 1990s and the most of us have learnt
the lessons from that. It's a shame Cameron Bagrie hasn't."
ENDS