The International Monetary Fund (IMF) has confirmed what New Zealand businesses have been feeling for months, the New Zealand economy has lost its momentum, National’s Finance spokesperson Paul Goldsmith says.
“The IMF reflects what the Reserve Bank has already stated, there has been a sharp decline in the New Zealand economy under this Government.
“Despite what Finance Minister Grant Robertson has been saying, the decline is not primarily due to global conditions. Our terms of trade are at historical highs and exports are rising.
“Under this Government growth has decreased from 4 per cent down to 2.5 per cent. Our per-person growth is the seventh worst in the OECD, and jobs are in decline.
“Business confidence is at record lows. This Government needs to wake up and realise what it’s doing to our economy.
“A strong economy is what pays for investment in health, education and infrastructure. This Government needs to stop taking economic growth for granted and dial back its anti-growth agenda, while getting on with delivering the infrastructure this country needs.”