It's the economy, Steven

As more evidence mounts of the problems facing the economy Steven Joyce needs to stop pretending the country is ‘heading in the right direction’ and do his job of developing the economy, says Labour’s Economic Development spokesperson David Cunliffe.

“Steven Joyce’s role is economic development. That means he has to help develop the economy. Instead he sits back and hopes it will all turn out for the best despite even John Key admitting the economy is set to get worse this year.

“Steven Joyce even refuses to accept the crippling effects of the high dollar on our exporters and manufacturers. His currency denier beliefs are destroying the economy, not developing it.

“There are 162,000 people looking for work in this country, the manufacturing sector is in crisis, the only industry treading water is the primary sector and a thousand Kiwis are leaving for Australia every week.

“Steven Joyce’s claim that the economy is ‘heading in the right direction’ is wrong on several fronts. Just 13,000 jobs were created in the last year, the performance of manufacturing index and performance of services index have both declined in recent months and the NZIER shadow board has declared that the economy has ‘failed to ignite’ and the exchange rate is ‘overvalued’.

“Like his leader and finance minister Steven Joyce is far too relaxed about the economy, making up figures and one-liners to gloss over the facts. He seems to think his economic development role is hands off and only involves shuffling bureaucrats around and printing glossy brochures.

“This is coming back to haunt him and New Zealanders are demanding action.

“With apologies to Bill Clinton I have a one-liner for the minister: ‘It’s the economy, Steven’.”

Read the NZIER Shadow Board report here.