Now for the economy

Jacinda Ardern and her team have done a good job overall with the pandemic crisis. However I have grave concerns for our economy if Labour is re-elected.

A simple example.

Shortly after the last election Labour, and presumably the Greens, made a decision that there would be no more oil exploration licences granted in New Zealand. Jacinda roared off to the United Nations and made that announcement as New Zealand being the first country in the world to make such a bold step. She was lauded in the press but one wonders what the leaders of most nations really thought?

That decision was disastrous. New Zealand is dependent on net oil imports for our economy and yet we were shooting ourselves in the foot by not producing oil and its derivatives to minimise our import requirement.

Further, the oil exploration companies - private enterprise taking the risk - knowing the Labour Government's anti-oil view, immediately reduced their economic activity in the Taranaki region. Jacinda then had to make various regional grants to prop up the Taranaki economy.

Labour and their cohorts have no idea of what the world is really about in an economic sense. We taxpayers suffer!

Bill Capamagian, Tauranga

3 comments

Fine decision

Posted on 29-05-2020 10:08 | By KiwiDerek

I always thought that decision was a splendid start for Labour (and the Greens). Good to see New Zealand leading the way on such an important abused resource.


so what will replace it?..

Posted on 29-05-2020 21:49 | By groutby

...to help keep the economy going KiwiDerek?....the Taranaki region is going proverbials up, and along with the rest of the country under current leadership unable to see the future picture and have a single topic focus there is a sharp decline in, well everything...The difficulty with such a restricted view is that at some point, the 'free' money dries up and we all get nothing...do we...you happy with that?, I'm not..


not black and white

Posted on 01-06-2020 12:47 | By KiwiDerek

I guess there are different perspectives, but I find the current leadership has a very sensible vision of the future. And let's not forget that aside from it saving 30% of the Maui dolphins marine habitat, there are many economic commentators who regard this ban as an important step towards a more prosperous future. For instance... In their Climate Change Impact Report, Westpac NZ found that moving to a low carbon economy sooner rather than later would allow New Zealand to reap up to $30 billion in economic benefits. Westpac New Zealand chief executive David McLean said, of the report’s results, that “if we wait to take action on climate change it may mean a very slightly healthier economy in the near term, but this gain would be lost in future as emissions-intensive sectors were forced to play catch up”


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