The title reads 'Reserve Bank revises down growth foreCASTS'. The cartoon shows someone representing the 'Economy' with crutches and their leg In plaster - hence wordplay on 'cast' and 'forecast'. A statement made by the Reserve Bank on 16th September looked a shadow of the bright one it published three months ago. Quantity: 1 digital cartoon(s).
The Treasury expects rebuilding after the Canterbury earthquake will help economic growth next year and put upward pressure on inflation.
Shows a graph illustrating the 'Growth forecast' for the economy. A large finger representing the 'Reserve Bank' squashes the growth arrow as though it is a fly and it starts to zig-zag crazily downwards. The statement made 16th September looked a shadow of the bright one the Reserve Bank published three months ago. With its forecasts finalised the day before the Canterbury earthquake struck, the Bank has taken secateurs to its economic growth track, and a carving knife to its interest rate path. Instead of GDP growth pushing 4% this year and next, for example, it now struggles to reach 3% in each. It's tempting to think this has been driven by the wobbling international news over recent months. In fact it's been because of a suddenly sombre view around NZ consumer spending and the housing market. (Interest.co.nz) Quantity: 1 digital cartoon(s).
Economists and business leaders predict the Canterbury earthquake will lead to a rash of business failures and cut economic growth this year.
Topics - Jim Anderton says he still has a shot at winning Christchurch's Mayoralty - despite a swing in favour of incumbent Bob Parker and the Treasury predicts the Canterbury earthquake could knock nearly half percent off the country's economic growth rate in the three months to the end of September.
Questions to Ministers 1. Hon DAVID CUNLIFFE to the Minister of Finance: Does he agree with Reserve Bank Governor Alan Bollard's assessment that the economic recovery is proving to be "slow and fragile"? 2. CRAIG FOSS to the Minister of Finance: What reports has he received on the economy? 3. Hon TREVOR MALLARD to the Minister for Economic Development: What specific actions has he taken since becoming Minister of Economic Development to secure the New Zealand film industry? 4. KATRINA SHANKS to the Minister of Housing: What reports has he received about the stakeholder engagement carried out by the Housing Shareholders' Advisory Group? 5. Hon CLAYTON COSGROVE to the Minister for Canterbury Earthquake Recovery: Will he support my recommendation to set up an advocacy support service to provide earthquake-affected residents with help in dealing with their private insurers to prevent them being shunted between these insurers and the Earthquake Commission? 6. Dr RUSSEL NORMAN to the Minister of Conservation: What steps, if any, is she taking to protect the unique, rare and threatened Nevis "Gollum galaxiid", a native fish species found only in the Nevis River in Central Otago? 7. GRANT ROBERTSON to the Minister for Tertiary Education: How does removing $55 million from industry training help the growth of the productive economy? 8. CHRIS AUCHINVOLE to the Minister for the Environment: What progress is the Government making in improving New Zealand's freshwater management? 9. SUE MORONEY to the Minister of Education: Does she stand by all her statements about subsidies and fee controls in early childhood education? 10. Hon RODNEY HIDE to the Attorney-General: Is it Government policy to exempt the holders of customary marine title from the application of the Resource Management Act 1991 and provide the holders with the sole right to give, or deny, a Resource Management Act permission right with no right of appeal or objection against the decision, as described in Bell Gully's Newsletter Update October 2010 on the Marine and Coastal Area (Takutai Moana) Bill? 11. Hon NANAIA MAHUTA to the Minister responsible for Whānau Ora: Is she satisfied with the process to shortlist Whānau Ora providers? 12. PESETA SAM LOTU-IIGA to the Minister of Energy and Resources: Why is the Government funding the Energy Spot advertising campaign?
1. Dr RUSSEL NORMAN to the Minister of Trade: Does he still consider that the United States will benefit from being part of the Trans-Pacific Partnership; if so, how? 2. Hon PHIL GOFF to the Prime Minister: Does he believe that all persons who have served as Ministers in his Government have met the requirement of the Cabinet Manual to behave in a way that upholds, and is seen to uphold, the highest ethical standards in their ministerial capacity, their political capacity and their personal capacity; if so, why? 3. CRAIG FOSS to the Minister of Finance: What reports has he received on the Government's financial position? 4. Hon ANNETTE KING to the Minister of Tourism: How many full-time permanent jobs has his cycleway project created? 5. JONATHAN YOUNG to the Minister for Communications and Information Technology: What progress has been made on the Ultra-fast broadband initiative? 6. Hon TREVOR MALLARD to the Minister of Education: Which ministers, if any, did she personally consult with on the question of removing the requirement for police checks for employees of limited attendance early childhood centres before she introduced the Education Amendment Bill (No 2)? 7. AARON GILMORE to the Minister of Revenue: What examples can he give of families claiming social assistance for which they are not entitled and what has this Government done to stop this abuse? 8. Hon DAVID CUNLIFFE to the Minister of Finance: How much lower will the growth forecast be for the year to March 2011 in the Half Year Economic and Fiscal Update compared with the Budget 2010 forecast? 9. SHANE ARDERN to the Minister of Agriculture: What recent actions has the Government taken to improve the welfare of pigs in New Zealand? 10. Hon RUTH DYSON to the Minister of Health: Will he act to prevent closure of health services in Taihape? 11. AMY ADAMS to the Minister for Land Information: What steps has Land Information New Zealand taken to help in the rebuilding of Canterbury following the 4 September earthquake? 12. Hon DARREN HUGHES to the Minister of Transport: Which project has the higher benefit cost ratio: the Auckland CBD rail loop or the Puhoi to Wellsford Road of National Significance?