Key now talks up decline, not recovery

John Key’s state-of-the-nation speech today is about managing economic decline, not economic recovery, says Labour Leader David Shearer.

“Somehow, less than two months after the election, John Key’s promised surplus for 2014/15 has declined by a billion dollars,” David Shearer said.

“At this rate, the prospect of any surplus at all will soon become a mirage. John Key’s spin is now to talk up a decline in New Zealand’s economy as somehow inevitable, giving him cover for his Government’s under-performance. He’s no longer talking with any conviction whatsoever about recovery.”

David Shearer said Kiwis are entitled to feel “let down”.

“New Zealanders, who are working harder than ever, will find very little hope in this speech.

“He blames the global economy, but the reality is that although New Zealand is affected by what’s happening in the rest of the world, we still have it within our power to drive our own good fortune.

“Kiwis have always done that, but National has no ideas. Its only plan to turn our economy around and to give people hope of a better future ahead is to sell our precious assets,” David Shearer said.

“While he talks in platitudes about his four key priorities --- he had six in 2008, but even that level of ambition is receding --- there is no evidence that National actually has a clue how it will build the more competitive and productive economy it promises.

“John Key is signalling failure, not success,” David Shearer said. “That is totally the wrong message to deliver.”