Emily Henderson: Our economy and the case for optimism


Investment has been made into critical services such as winning funding for our hospital rebuild shown here in an artist’s impression Photo / Te Whatu Ora Te Tai Tokerau

OPINION

Like me, you’ve probably seen the headlines about Europe’s energy crisis heading into their winter, with heating bills soaring, worldwide supply chain issues, and rampant inflation in the US and UK.

New Zealand is a small boat on a big sea, and we can’t avoid some of the incoming waves. We have to be realistic about these challenges, but we have reasons to be optimistic, too – certainly more optimistic than many of our competitors.

First, we’re starting from a better base than most.

Together, we’ve ensured that our economy has pulled through the pandemic better than most of our competition, and certainly better than in the global financial crisis. We’ve kept New Zealand’s debt low, lower than Australia’s and much lower than in the UK or US.

Artist impression of the new hospital development  Photo / Te Whatu Ora Te Tai Tokerau
Artist impression of the new hospital development Photo / Te Whatu Ora Te Tai Tokerau

Meanwhile, our productivity is up: our economy is nearly 5 per cent bigger than before Covid, a rate similar to Australia’s and ahead of the US, the European Union, UK or Canada. Our exports are at near-record highs, more of our people are in work and wage increases are outstripping inflation, making Whangārei’s families and our economy stronger and more resilient to global shocks.

Second, we’ve been deliberately nurturing our workforce with a view to long-term sustainability.

While under National after the GFC, apprenticeships plummeted, leading to the present shortage of tradies; we’ve supported a record 50,000 new apprenticeships and supported businesses to take them on.

I’m particularly proud in the record numbers of women apprentices and the first-ever women’s employment action plan to ensure women have careers that are more financially rewarding and more resilient.

Artist impression of inside the new hospital development Photo / Te Whatu Ora Te Tai Tokerau
Artist impression of inside the new hospital development Photo / Te Whatu Ora Te Tai Tokerau

Third, we’re investing in major infrastructure projects that sustain work.

We’ve targeted investment into critical services: building more homes, upgrading schools and health facilities, and improving transport.

Whangārei has done well in this, winning funding for our hospital rebuild and the Marsden railway spur, two of the biggest investments in our town in a generation.
Additionally, we’re a Priority Area for Kainga Ora social housing, with 166 houses in progress and 500-plus to come. We’re driving the biggest state housing build since the 1970s, with over 10,000 built since Labour became government.

Meanwhile, our ongoing investment in renewable energy helps shelter us from the energy crisis that European nations are facing right now – and I see a future where Whangārei seizes more of those opportunities, too.

When uncertainty seems like the only constant, it’s easy to miss the advantages we have going for us, but in reality New Zealand is reasonably well placed to ride out the global headwinds.

None of this means things aren’t tough for many families in Whangārei right now.

That’s why we’re continuing to tackle global inflation and support households with the cost of living, including with a fuel tax cut, half-price public transport, Cost of Living Payments, the Winter Energy Payment, and action on supermarket pricing.

Just as our government is right alongside Kiwis in tough times, we will continue to be right alongside businesses, workers and families as we take on the future.



Source link

Leave a Reply