Government's Economic Policy Slammed

Tuesday 12 Nov 2002 Rodney Hide Press Releases -- Economy

ACT Finance Spokesman Rodney Hide said today that the Global Competitiveness Report demonstrates that Helen Clark, Michael Cullen and Jim Anderton are taking economic policy in quite the wrong direction.

"The Report documents the slippage that has occurred in New Zealand under Labour. In just a year, New Zealand has dropped six places for growth competitiveness, down from 10^th place to 16^th. So much for the Prime Minister's Growth and Innovation Strategy - and so much for Jim Anderton's "Hands On" government.

"The serious slippage has occurred in the macroeconomic environment because of high government spending and poor savings. The other worrying slump is in technology where New Zealand has slumped from 11^th place to 27^th.

"Helen Clark should take the Global Competitiveness Report as a wake-up call that her "hands-on" policies aren't working. We need less government in New Zealand, not more", Mr Hide said.

For more information visit ACT online at http://www.act.org.nz or contact the ACT Parliamentary Office at act@parliament.govt.nz.

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