The Mapp Report
new-zealand-national-party
Fri Jul 03 2009 12:00:00 GMT+1200 (New Zealand Standard Time)
The Mapp Report
Friday, 3 July 2009, 1:14 pm
Press Release: New Zealand National Party
3 July 2009
The Mapp Report
THE ECONOMY
Some recent news reports suggest a return to growth. Any recovery will naturally be very welcome.
The Reserve Bank notes that: “While New Zealand is in its sixth quarter of recession, it has got off remarkably lightly so far compared with larger northern hemisphere economies.” The Reserve Bank’s remarks reflect the agricultural base of the New Zealand economy. This sector has not been affected nearly as much as the export of manufactured goods. The decline in this sector is evident world-wide, and has been much deeper than for agricultural goods. However, ultimately New Zealand is dependent on a growing global economy.
The Reserve Bank also noted: “How long recovery will take is uncertain, though it is likely that it will be some significant time before economic activity returns to robust and healthy levels.”
The June ANZ National Bank Business Outlook had positive news. Its monthly survey showed a 4% rise from May in the number of respondents who expect business conditions to improve over the next 12 months. In the construction industry 46% more people expect conditions to improve rather than not. This is the highest such rating since 1999.
This week Statistics New Zealand announced our fourth straight trade surplus. The value of the surplus was $858 million dollars. This equates to 21.7% of our exports. This is the highest percentage surplus since 1993. While this can largely be attributed to a 20.7% fall in imports, exports also rose 5.8%. Exports to China accounted for 80% of the increase.
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The Government is doing a great deal to take the sharpest edges of the recession for New Zealanders. Over the next four years we will borrow an extra $30 billion to support the economy – particularly jobs. Our immediate concern is to ensure that as many New Zealanders as possible retain their jobs or find new ones.
We are also investing $7.5 billion in productive infrastructure in the next four years, plus $1 billion a year on roads. There will be record spending on frontline health, education, and law and order services. We will invest $500 million in assisting small and medium enterprises. The Government is also working hard to improve the quality of public spending and delivering better, smarter public services.
OUT AND ABOUT
Today I attended the Junior Officer Common Training and Basic Common Training graduation parade at the Devonport Naval Base. I congratulate these young officers and sailors on this milestone and wish them the best for their future naval careers.
I also visited Westlake Girls High School today. Westlake GHS has a roll of 2200 and is one of the largest single-sex schools in New Zealand. I was particularly interested to talk to the school about how they handled the recent outbreak of H1N1. The decision for Year 12 students to stay at home during the week clearly prevented any further spread of the dIsease.
Later in the afternoon I am visiting the new radio telescope operated by AUT at Warkworth. This comes within the Science portfolio, and is part of the proposal (in partnership with Australia) for both countries to be a base station for the global radio astronomy network.
Hon Dr Wayne Mapp
MP North Shore
For more information on National visitwww.national.org.nz or have your say at www.johnkey.co.nz
Visit my website for more information at: www.waynemapp.co.nz
The Mapp Report is published every fortnight. Please feel free to pass on to anyone interested.
ends
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