digital fundamentals 10th edition page 666

If we can lift national savings we will not be as vulnerable to overseas lenders as we unfortunately are after 9 years of economic mismanagement. That offshore borrowing was $100 billion in 2000, it reached $170 billion this year, and it is forecast to rise to almost $250 billion by 2014. New Zealand has run current account deficits for a very long time and the difference between investment and our savings has been funded by offshore borrowing.

Hon BILL ENGLISH: Improving national savings is so important because of the damage that the previous Government did to it-and it should listen. Sandra Goudie: Listen up, Labour, you will learn something. This group will focus particularly on lifting the level of national savings, not just household savings.Ĭraig Foss: Why is it important that New Zealand increase its national savings? Today the Government has announced the appointment of an independent Savings Working Group with wide terms of reference. Hon BILL ENGLISH: A focus on national savings is the next step in the Government’s programme for rebalancing the economy towards savings, investments, jobs, and strong economic growth. I guess it might have had an element of humour to it, which assisted on this occasion, but I do not accept that kind of point of order. Mr SPEAKER: I do not think that the Hon Trevor Mallard has any questions on the Order Paper today, but even so that kind of abuse of the point of order process will not be tolerated. Hon Trevor Mallard: The point of order goes to whether, in fact, this question should have been accepted, given that it contains irony.

Mr SPEAKER: I cannot imagine what the point of order is. Hon Trevor Mallard: I raise a point of order, Mr Speaker. Interjections should relate to what a person says, and should not be just a widespread volley like that. The Minister had not even started his answer before there was a barrage of interjection from, on this occasion, the Labour front bench. We are not going to start the week that way. Hon BILL ENGLISH (Minister of Finance) : Mr Speaker. Minister of Finance: What steps is the Government taking to consider options for improving New Zealand’s national savings?

Digital fundamentals 10th edition page 666