Last week, Minister for Primary Industries Nathan Guy announced the latest primary sector figures show primary sector exports this year look set to rise by nearly $5 billion more than originally forecast.
Log prices have increased by 30 per cent in the second half of 2013 and forestry firms are expected to take advantage of higher international prices by increasing harvest volumes. This will lead to an additional growth in returns of $800 million in 2013/2014.
This is good news for Tauranga, as the Port of Tauranga handles most of the log exports from the Bay of Plenty and Waikato.
The revised forecast shows this Government’s efforts to achieve our goal of doubling primary sector exports by 2025. But there is still more work that needs to be done. We will continue to build on this growth by encouraging private investment in research and development, irrigation and water storage schemes, free trade deals, new roads and resource management reform.
Spending under control
The latest financial statistics show we are still on track to return to surplus in 2014/2015. This was a key policy of the last election and we intend to stick to it.
This has only been made possible with responsible and disciplined financial management.
Even more than a year out from a surplus being posted, other parties want to throw it all away with welfare payments to families on six-figure salaries and targeted subsidies for electricity generation that will actually do nothing overall to bring down power prices.
We need to remain on the path that’s been set under Finance Minister Bill English. Returning to surplus means we can start reducing government debt, be able to tackle issues like New Zealand’s changing demographics, and be better prepared and protected in the event of another global economic downturn.