More good news

money in your back pocket

Hamish Rutherford is another reporter piling on more good news prior to the election

Average annual wages are expected to rise by $7500 over the next four years, Finance Minister Bill English says.

In a speech to the Wellington Employers’ Chamber of Commerce this afternoon English said average wages would rise to $62,200 by 2018 “if New Zealand achieves its economic growth forecasts”.

The increase amounts to $1875 a year, or a little over $5 a day.

“We’d like it to be better, that’s for sure, and we’ve been working hard to make it better,” English said. ?

“There isn’t a short-term policy fix that’s going to deliver people big increases in their incomes but over time with moderate increases it can build up.”

Treasury expected the economy to grow by between 2 per cent and 4 per cent a year until 2018, English said.

“Quarterly GDP or current account statistics are not, in themselves, what matter to families.

“Jobs, higher incomes and opportunities to get ahead are what really matter.

“Everyone’s situation is different and many families are still finding times are challenging. But the benefits of a sustainably growing economy are tangible and meaningful.”

In the past two years average wages had climbed by $3000 to $54,700, with Treasury expecting the increase to be slightly higher over the next four years, English said.

“So if you take that six-year period as a whole, the average wage will have gone up $10,500, or around 20 per cent, compared to inflation of around 12 per cent over the same period.

Good luck Labour, telling the electorate that English and Key don’t know how to run the economy. ?It would be better if you tried something else, like banning trucks from overtaking tourists driving campervans at 60 km/hr on the open road.

From hereon in, Labour’s Transport Policy will be called the Labour Cluster Truck.


– Stuff