When we look at New Zealand’s economy today, we see a number of serious problems that are holding us back from achieving our potential.
These include high private debt, rapidly growing government debt and limited capacity for growth. If we can fix these problems, we can all look forward to a more prosperous future.
We need a Government that has the courage to take hard decisions to fix them.
After three years of waiting, it is now clear that National is not that Government.
National has borrowed $36 billion while the economy has stagnated. Their only idea now is to sell our publicly owned assets. (Prime Minister) John Key says we will ‘muddle through.’
As a country, we cannot afford three more years of National.
Labour will be the Government that New Zealand needs.
We have a suite of carefully thought through and costed policies that will get New Zealand growing and make us all wealthier.
Unlike National, we will not sell off our national wealth but build it and ensure that we own our future as a country.
Packages for growth
Labour has already released its Skills Development Package, which will give young Kiwis the skills they need to contribute to a wealthier tomorrow, and the Tax Package, that is vital to rebalance the economy for growth.
Our bold tax policy will (1) introduce a Capital Gains Tax to close the biggest tax distortion in the country (2) make the first $5,000 of everyone’s income free of tax (3) take GST off fresh fruit and vegetables funded by capping National’s tax cuts for the rich (4) reduce the subsidy for greenhouse polluters (5) redirect money towards research and development tax credits and (6) pay off debt faster than National.
We will do these without selling our assets. Only a vote for Labour can stop National’s plan for asset sales.
Economists have welcomed Labour’s plan because it will help redirect the economy away from borrowing and over-investment in housing towards solid investment in productive enterprises leading to more jobs and a wealthier country for all.
This is how we will grow our economy, by increasing the productive capacity of our businesses and our people with smart investment and good policies.
We will soon be releasing our Savings Policy, which will enhance savings and reduce our reliance on foreign debt and our Economic Development Plan to enhance our country’s capacity to grow.
You can read the details of our policies online www.ourownfuture.co.nz
Economic strength
Labour’s plan charts a course for a stronger, more resilient economy and will allow us to keep our valuable assets for the benefit of future generations.
We will take the hard decisions needed to lift incomes and create a prosperous, long-term future for all New Zealanders.
Can we afford more of the same from National or will we choose a Labour-led Government with the plan and the bold vision to realise our country’s potential and ensure that we, as a nation, own our future?
The choice is ours.
David Cunliffe is an elected Member of Parliament from the New Lynn Constituency and Finance Spokesman of Labour Party. The above article is exclusive to Indian Newslink ©