Employee reward and benefits news
CTU: Govt must change strategy
The New Zealand government has been called upon to implement a change in policy direction to create more jobs.
Commenting on the government's Financial Statements, New Zealand Council of Trade Unions (CTU) economist Bill Rosenberg stated: "The government should be focusing on creating jobs and getting money into the pockets of low and middle income people by stimulating the economy rather than an inflexible deficit target."
The Statement shows that the government is relying on the Christchurch reconstruction project and world events to boost the economy, rather than the revision of policy to make it more responsive.
Furthermore, with 150,000 unemployed and 250,000 jobless on a near constant basis since 2009, "further cuts in government spending will not help".
However, the nation's low interest rate has served to bolster confidence.
New Zealand's shares have gained for a third day in a row, encouraging some investors to place money in riskier stocks or higher-yielding assets.
Posted by Editorial Team
