Media Release: National Distribution Union
Friday November 20, 2009

Goff’s Monetary Policy review welcome; business lobby scorn questioned

The National Distribution Union (NDU) is welcoming the Labour Party’s break with bipartisan consensus around current monetary policy, and is challenging Business New Zealand to say which interests it is representing by opposing the move.

“The NDU has been saying for some time that the high and volatile NZ dollar and other aspects of monetary policy are destroying the manufacturing sector and the jobs within it,” NDU General Secretary Robert Reid said.

“Goff’s announcement is bold and courageous. We challenged him at the Council of Trade Unions Conference last month to conduct such a review in this period that Labour is in opposition. He has done exactly that.”

Robert Reid said negative comments of Business New Zealand’s Phil O’Reilly and EMA Northern Alasdair Thompson to Goff’s review raise questions about whether they are representing NZ manufacturers and exporters, or international finance capital.

“Every manufacturer and exporter that our union meets has identified the high and volatile NZ dollar as the cause of closures, layoffs or lack of growth.”

“If these business organisations fail NZ manufacturers and exporters in their hour of need then we need to hear from other employer, manufacturers and exporters organisations who are prepared to positively respond to a review of the monetary policies that are decimating the sector,” Robert Reid .

ENDS

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