Friendly policies restore growth potential
For the past three years, National has provided stable and responsible economic management.
National has ensured that the economy is structurally sound and that we are better placed than many other countries to withstand any future economic shocks.
We have taken strong action to get the economy growing. We have set a path back to surplus by 2014/15. Latest GDP data shows that economic growth was much higher than expected in the March quarter, despite the Christchurch earthquakes.
National has a strong platform for growth that protects our most vulnerable and builds a brighter future for all New Zealanders.
We have cut taxes across the board to encourage hard work and savings, rather than providing incentives to hide income or head overseas. Under National, three in every four New Zealand taxpayers pay no more than 17.5% tax.
Our tax reforms have made sure that after-tax wages have, on average, risen faster than the cost of living. They went up 7.1% in the past year, and 17% since September 2008 – faster than the rate of inflation.
We have boosted investment in vital infrastructure to $17 billion over the next four years. That means more roads, schools, hospitals, and a better electricity network.
We are also rolling out ultra-fast broadband to 75% of New Zealand by 2019.
We want to ensure that New Zealand stays connected to the world.
We have improved the education system so that our schools and tertiary institutions produce better skilled workers for the future. This year, the Government will spend $12 billion on our education system. We want to give every child the opportunity to succeed, from early childhood education to vocational or tertiary training and education.
We have done what we said we would do. We are delivering on our plan for stronger economic growth and we are committed to improving the things that matter to you – the economy, education, health and law and order.
We are seeing some great results. New Zealanders are starting to reap the benefits of our plan. 170,000 new jobs are forecast in Budget 2011, along with 3% average annual growth over the next four years.
We are very optimistic about the future for New Zealand. The last thing our country needs is more taxes, more debt and more uncertainty. We know that Kiwis want a strong and growing economy that provides more opportunities, better wages and the high-quality public services they need.
That is exactly what National will deliver.
I hope you and your family have a happy and successful Eid. This is a great chance to spend time with your family and friends, reflect on the past year and look ahead to the future.
John Key is Prime Minister of New Zealand. The above article is exclusive to Indian Newsilnk ©