National has a clear plan to take New Zealand forward by building a faster-growing economy with more jobs and higher incomes.
That is the only way in which we can provide Kiwis with security and opportunity to get ahead in their life and career.
Labour left us an economy in recession long before the global financial crisis. New Zealand had high inflation, high interest rates, forecasts of never-ending deficits and ever-rising government debt.
Since then we have been through three tough years – the global financial crisis, major earthquakes in our second-largest city and finance company collapses.
Our first challenge was to steady the ship, help New Zealanders through the recession and turn around our fiscal situation. We have achieved that, while continuing to protect the most vulnerable in society.
The economy has grown in eight of the past nine quarters and 43,000 new jobs were created in the past year. This is 20,000 more than forecast in the 2011 Budget. We expect to see another 150,000 jobs created between 2012 and 2016.
The other challenge has been to set a platform for future growth.
We have begun rebalancing the economy towards exports, savings and productive investment, away from borrowing, consumption and government spending, which characterised growth in the mid-2000s.
Key improvements
We have vastly improved the tax system, reduced the size of the bureaucracy and invested in modern infrastructure.
We have also boosted funding for science and innovation, made it easier to do business, reformed the financial sector and pursued an ambitious trade agenda.
New Zealand is better placed than many other countries to manage what will remain an uncertain global environment.
We are getting on top of our government debt by keeping it below 30% of GDP and we will be back in surplus by 2014-15.
Looking ahead, it is important that we maintain the momentum by creating real and durable jobs based on exporting and trading with the rest of the world, rather than temporary jobs based on borrowing and government spending.
The outlook for New Zealand is hugely positive, with low interest rates, high commodity prices, and booming trade with China and India.
We are very competitive with Australia and the job market is improving.
Our economic plan is about grasping these opportunities, so that we can grow solidly over the next three years and increase jobs and wages
In these uncertain times, New Zealanders need a steady hand at the wheel.
National has provided strong and stable government and sound economic management – things that Labour cannot deliver.
Kanwaljit Singh Bakshi is Member of Parliament on National’s List. The above article is exclusive to Indian Newslink ©
