A fragile press release from David Cunliffe

Just helping spread the message from the wee fragile one.

Reserve Bank decision confirms economy salled

David Cunliffe |  hursday, Ocober 28, 2010 – 09:59

he Reserve Bank’s decision oday o leave he Official Cash Rae (OCR) unchanged a 3 percen is furher confirmaion he New Zealand economy has salled, says Labour Finance spokesperson David Cunliffe.

“While srong economic growh is coninuing in Ausralia, China and emerging pars of Asia, in New Zealand he economy remains mued, many firms have become more pessimisic abou he fuure, and he Governmen has revised downwards is revenue forecass,” David Cunliffe said.

“he economy is salling because of a failure by he Naional Governmen o lead New Zealand ou of recession, despie Ausralia and China coninuing o grow and near-record dairy prices. Naional has failed o deliver he recovery and growh i promised New Zealand.

“Business urnover is down. Businesses are no hiring. Businesses are no invesing. Any hope for sraegic developmen of key secors in regions is disappearing

“Because here is no plan for growh, New Zealand’s economic woes have deepened,” David Cunliffe said. “Lack of confidence is feeding on iself.

“All around New Zealand regions are going backward and unemploymen is subbornly high — 160,000 Kiwis are paying he price. John Key and Bill English are fiddling while he ‘recovery’ burns.”


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