24 Aug 2012

Labour issues a 'fail' report card on economy

11:15 am on 24 August 2012

The Labour Party has issued a report card on National's economic record in government which gives it a fail mark for just about every one of its initiatives.

But Finance Minister Bill English is rubbishing the criticism.

Labour finance spokesperson David Parker says the Government has failed to reach a number of its own objectives.

He says they include failure to close the wages gap with Australia, lift wages, reduce income inequality, create more jobs and build a more prosperous and ambitious New Zealand.

"The Government stood in the 2008 election and said that they would close the wage gap with Australia," Mr Parker says, "and they said 'Wave goodbye to higher taxes, not your loved ones'.

"Well, neither of those two promises have come true. They won't even agree milestones to get it back to where it was when they took over office."

Green Party co-leader Russel Norman agrees the Government has failed.

But Mr English is unimpressed, saying the report card conveniently overlooks the fact there's been a global recession.