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18
MAY 11

Talking the Talk - Election 2011 (May)




Its election year, so we have invited every brand of New Zealand politicians to speak to our Members.  I will be blogging on all these sessions from now on. 

 

On Monday evening this week,  due to the upheavals in ACT the planned speaker for our Council and CEO forum meeting cancelled.  We were lucky to get David Cunliffe and David Parker to speak.  The presentations were interesting, in that these days Labour is building more and more on and around the real economy message.  David Cunliffe spoke to a current paper and David Parker threaded his comments around earlier documents.  All are worth a look, the links are at the end of this entry.

 

The intellectual rejection of monetary policy that flooded the New Zealand market with unwelcome liquidity, failed to address inflation and ruined returns to exporters was signalled by Phil Goff in late 2009, reinforced by David Parker in the middle 2010 and repeated on Monday evening.  Throughout that time we continued to witness the nonsense of an exchange rate driven by global capital flows and not trade or economic fundamentals;  and from those currently responsible a steadfast refuse to accept it as a monetary policy failure, finding comfort in the claim that it is a set of policy failures elsewhere preventing our “well regarded monetary policy” working.  It is encouraging to see Labour thinking outside this particular cul-de-sac.

 

These messages will not be unfamiliar to those who read this blog.  They are long overdue from any New Zealand politician. It should be no surprise that our Members reacted with some scepticism and the question and answer session was direct and robust.  Collectively “all very nice but when you were in power” “what assurance is there you will follow through if you had power” was the thrust of the discussion.  In talking to our members after the session, for the most part, they felt that the responses were confident, credible and genuine. 

 

We all hope to see more focus on real economy issues as time passes this year.
 

 

http://www.johnwalley.co.nz/files/David Cunliffe Pre Budget Speech 17 May 2011.pdf

 

http://www.johnwalley.co.nz/files/Speech by David Parker 10 June 2010 Monetary Policy.pdf

 

http://www.johnwalley.co.nz/files/Speech by David Parker to Energy Management Association of New Zealand March 2011.pdf

 

http://www.johnwalley.co.nz/files/Overseas Investment Full Policy.pdf


tags: budget, monetary policy, david parker, david cunliffe
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