Prime Minister’s weekly column
As I mentioned last week, this Thursday the National-led Government will present our fifth Budget to New Zealand. The Budget will set out our path back to surplus – something we have promised New Zealanders we would achieve. It will also show the steps we’re taking to help the New Zealand economy grow, by supporting Kiwi businesses to innovate, expand and hire more staff. For many businesses, the decision to hire another staff member is often based on the confidence they have in the economy’s future. Under National’s responsible economic management, we’ve seen business confidence rising, which is great news.
This comes off the back of the 3 per cent economic growth New Zealand experienced last year. Under National, New Zealand has the lowest mortgage rates since 1965, meaning that a family with a $200,000 mortgage is now better off by $200 a week. We are working hard to encourage more investment right across the New Zealand economy, as we know nothing does more to create jobs and grow incomes for New Zealand families than positive business growth. We’ve removed unnecessary regulations and red tape, which have been restraining growth, and we are focused on improving important infrastructure, such as the country’s roads, and in connecting New Zealand with the world through ultra-fast broadband.
Our economic management and Business Growth Agenda were praised last month by IMF Managing Director Christine Lagarde, who described New Zealand’s economy as being “very stable” and “very promising,” and a lot better than other parts of the world. Furthermore, the release of last week’s Household Labour Force Survey showed a drop in the unemployment rate from 6.9 per cent to 6.2 per cent for the March quarter – meaning 38,000 more New Zealanders were employed in this quarter.
We can be confident that under National, the economy is continuing to move in the right direction. As this week’s Budget will confirm, we remain committed to responsibly managing the Government’s finances so we can fulfill our promise to build a brighter future for you and your family.
