2. CRAIG FOSS (National—Tukituki) Link to this
to the Minister of Finance
What reports has he received on the New Zealand economy?
Hon BILL ENGLISH (Minister of Finance) Link to this
A number of market forecasters have indicated that the outlook is a little brighter than it was foreshadowed to be, partly because the free fall in global economies has stabilised and partly because the Government’s policies to fight the recession continue to be effective. However, the outlook remains uncertain. For instance, the tax take from companies is around $1 billion lower than was expected as recently as the last Budget, and the Government has continuing concerns about the rise in unemployment.
Our priority in the first year was to come to grips with the recession and to understand just how deeply the misdirected policies of the previous Government had affected the economy. We will be continuing with our comprehensive plan to improve infrastructure, boost skills, have a better and smarter Public Service, have less red tape, and have a modern taxation system.