Out Of The Dip But Big Challenges Remain

Published: Thu 21 Dec 2006 12:17 AM
21 December 2006
Out Of The Dip But Big Challenges Remain
The September quarter GDP figures look back on the recent dip in economic activity when in fact the economy is now picking up, the Council of Trade Unions said today.
Now the key issues we face are less about the economic cycle and more about structural issues such as low savings, high household debt, a high current account deficit, low wages and low productivity.
Peter Conway, CTU economist said today that "these are not issues that monetary policy can address".
“The CTU wants to see the Business Tax Review include an option of a 4% tax cut for business offset against compulsory employer contributions to KiwiSaver rather than a simple cut in company tax.”
“We want to see even more investment in skills, technology and quality infrastructure and we also are seeking a much more positive approach from employers to industry bargaining to lift wages.”
“Unions also want to see economic growth that is not based on increasing hours of work of work for those already stretched too far, but innovative work practices and value added products and services," Peter Conway said.
Council of Trade Unions
Te Kauae Kaimahi
The New Zealand Council of Trade Unions Te Kauae Kaimahi brings together over 350,000 New Zealand union members in 40 affiliated unions. We are the united voice for working people and their families in New Zealand.
Contact NZCTU
Physical Address:
Level 7, West Block, Education House, 178 Willis St, Wellington.
Media Contact:
Postal Address:
PO Box 6645, Marion Square, Wellington 6141.

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