National big on quotes, short on recovery

Press Release – New Zealand Labour Party

Labour’s Finance spokesperson David Cunliffe has released 15 quotes from John Key and Bill English that show they have consistently talked up an economic recovery despite overwhelming evidence that their Government has failed to deliver one.National big on quotes, short on recovery Labour’s Finance spokesperson David Cunliffe has released 15 quotes from John Key and Bill English that show they have consistently talked up an economic recovery despite overwhelming evidence that their Government has failed to deliver one.

“Ranging from John Key (‘I think actually starting to come out of it reasonably aggressively’ —22 March 2009) to Bill English (‘the recovery has been quite considerable’ — 19 August 2010), the quotes have come thick and fast over the past two years, but they have all been meaningless and cynical in terms of a real recovery,” David Cunliffe said.

“The facts are these: the recovery has not happened; low- to middle-income Kiwis are now worse off under National; there is a growing wage gap with Australia, and Kiwis are voting with their feet in huge numbers as they cross the Tasman; two international credit agencies have downgraded New Zealand; and National still doesn’t have an economic plan to grow the economy, create jobs, and boost savings.

“In March 2010 Bill English was saying it was important to convert an early start to recovery into ‘a permanent lift in growth rates’,” David Cunliffe said. “Now John Key admits that New Zealand is just ‘muddling through’.

“They keep promising recovery is around the corner, but they have had three years and the corner keeps getting further away. They do not have a plan to lead New Zealand forward.

“When all the fancy words are stripped away, the evidence is clear: the recovery has not happened, and New Zealanders are worse off under National.

“Unemployment has increased 50 per cent, 100,000 Kiwis have left for Australia, prices have risen at nearly four times wage growth, and 60,000 more people are on benefits.

“New Zealanders now face a clear choice —- between selling out our future and owning it; between Labour’s credible plan and National’s fire-sale of assets.

“The quotes keep coming, but the results are lagging far behind,” David Cunliffe said.

Quotes below:

Authorised by David Cunliffe MP, Parliament Buildings, Wellington

Fifteen quotes that tell a story of National’s failure:

1. “I am sure the country can have enormous confidence in my leadership as we look to deliver productivity growth in a stronger economy,” (John Key 16 Dec 08).

2. “it is important we convert this early start to recovery into a permanent lift in growth rates,”(Bill English 25 Mar 10).

3. “There are encouraging signs that the recovery is headed in the right direction,”(Bill English 22 Jun 10)

4. “Tax cuts are just one of the Government’s policies to get faster growth and boost incomes,” (John Key 28 Jul 10).

5. “I think actually starting to come out of it reasonably aggressively I’m more optimistic about 2011 than 2010 but nevertheless I think 2010 will be positive,” (John Key 18 Aug 10).

6. “The recovery has been quite considerable,” (Bill English 19 Aug 10).

7. “we are going to see a recovery in which people are careful with their spending and pay down debt, and in which the growth in the economy is driven by strong export prices. That kind of recovery will give us sustainable jobs,”(Bill English 14 Oct 10)

8. “there was aggressive recovery,” (Bill English 20 Oct 10).

9. “It is encouraging that the recovery is being built on savings, investment, and exports rather than consumption, housing speculation, and wasteful Government spending,” (Bill English, 16 Nov, 2010).

10. “the economic recovery is a bit flatter than was expected, but that is a good thing,” (Bill English 24 Nov 10).

11. “The economy did not grow in 2010 as quickly as most people anticipated … Although in the short term it means that there has been a bumpy road to recovery, in the longer term it is laying down a stronger foundation for future growth,”(Bill English 15 Feb 11)

12. “the Budget is likely to see very strong growth in real wages for New Zealanders … very strong job growth; and a much stronger economic outlook for New Zealand,” (John Key 17 May 11).

13. “More good news. This morning the Reserve Bank issued its Monetary Policy Statement. It confirms the early signs of an economic recovery. GDP has probably increased modestly through the first half of 2011, despite the impact of the Christchurch earthquake. The bank expects the pace of growth to pick up,”(Bill English 09 Jun 11)

14. “Today’s figures show that the recovery is under way, and the pace of growth is picking up,” (Bill English 14 Jul 11).

15. “there’s no guarantee”. Bill English admits Government’s estimate of obtaining between $5 billion and $7 billion may not be realised (Bill English, Q and A, 8 November, 2011).

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