More jobs to go as dollar rises again

Hard-working Kiwis should brace themselves for more job losses as the dollar rises yet again, warns Labour finance spokesperson David Parker.

“New Zealand exporters are being punished by the high dollar and having to cut jobs throughout the country. Now the dollar is back over US80c more job losses will be on the way.

“The National Government throws up its hands and says it can’t stop the dollar rising. But the dollar is being driven higher by bad policy, not a strong economy. Our exporters are competing overseas with one hand tied behind their back and the government is throwing in the towel.

“The list of job losses at exporters is growing by the week and no part of the country is unaffected. Cavalier’s is cutting 70 jobs in Onehunga, Oamaru is losing 50 jobs from Summit Wool Spinners and 55 jobs have been lost in Gould’s Fine Foods in Wellington. That’s a list of shame from a government that claims it wants to lift exports by 30 per cent.

Mr Parker says Labour demands a focus on economic growth and giving our businesses the best opportunity to sell their excellent products overseas.

“We need strong exporters to grow our economy and create more high-wage jobs. The government’s refusal to address the high dollar is keeping exporters’ backs to the wall.”