“GDP up” just the war cry the CTU was waiting for

Just when the economy is going gang busters along come the unions with their bludging, grubby hands out.

The latest figures show gross domestic product (GDP) grew 0.9 percent in the June quarter, taking annual growth to 3.6 percent.

Driven by housing, strong demand for exports and immigration, New Zealand now has the third highest growth rate in the OECD.

However, how much of the increased growth is getting through to workers?

ANZ chief economist Cameron Bagrie says any growth flows into the economy and eventually into wages.

“If we continue to see unemployment track down, wages will start to move up and people will start to get ahead.

“We’re seeing real wage growth at the moment of 1.5 percent, but I’m expecting that to grow to 2.5 percent over the next 24 months.”

However, critics say we’re relying on immigration and on a per person basis New Zealand’s hardly growing at all.

“The biggest disappointment is the fact that it’s driven by population growth rather than by increasing the quality of what we are doing. Our productivity growth is probably going backwards,” says CTU economist Bill Rosenberg.

Productivity growth always goes backwards when unions come calling and want more for doing less.

And Robbo chimes in to tell everyone that a raging economy is actually bad for us all.

Labour’s finance spokesperson Grant Robertson says everyday Kiwis won’t be feeling the benefits of GDP growth.

“The answer is because on a per person basis our economy is barely moving.

“We have seen enormous population growth in New Zealand in the last year and that generates economic activity. But what these numbers show is that we are not getting the increased economic value from that to mean real sustainable growth. This adds further to the need to review and adjust immigration policy to ensure it contributes to real growth.”

He says real disposable income per capita fell in the past quarter, meaning Kiwis “don’t feel they’re getting ahead”.

Mr Robertson says the economy is being kept afloat by population growth and an unsustainable housing bubble.

We have the lowest unemployment rate in the OECD, jobs being created by a growing economy and this retard thinks that is all bad?

This just shows why Labour and their union paymasters are unfit to govern…ever.

 – Newshub


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As much at home writing editorials as being the subject of them, Cam has won awards, including the Canon Media Award for his work on the Len Brown/Bevan Chuang story. When he’s not creating the news, he tends to be in it, with protagonists using the courts, media and social media to deliver financial as well as death threats.

They say that news is something that someone, somewhere, wants kept quiet. Cam Slater doesn’t do quiet and, as a result, he is a polarising, controversial but highly effective journalist who takes no prisoners.

He is fearless in his pursuit of a story.

Love him or loathe him, you can’t ignore him.

To read Cam’s previous articles click on his name in blue.

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