10 Aug 2011

Govt accused of complacency

7:24 am on 10 August 2011

The New Zealand Government is being criticised for being too relaxed in the face of the financial turmoil overseas.

But Prime Minister John Key says while New Zealand is not immune from what happens globally, it is in better shape than much of the rest of the world.

Mr Key says National is not reconsidering any of its policy programme because of the volatility.

However Labour leader Phil Goff says Mr Key should be taking the situation far more seriously.

He says New Zealand's economy is vulnerable and National has not come up with anything that will set it on the right path.

Green Party co-leader Russel Norman says increasing Crown debt combined with high private debt, means New Zealand needs access to international credit markets.

Dr Norman says the Government seems to carrying on as if there is not a significant problem, which he says, is a huge concern.