Phil Goff’s decision to seek a more equitable monetary policy is welcomed by the Productive Economy Council.
It’s good to finally see a politician stand up and say we have got it wrong with our monetary policy and it’s time to fix it.
But Labour’s shift in position is only the first step in what promises to be a bitter fight about the future of our economy. The business community is clearly divided into two camps; those that make their money from exports, creating jobs and earning the country’s foreign exchange and who are thus heavily penalized by our volatile dollar and tax regime, and those who profit from the current system, exploiting the tax system and shifting exchange rate to their advantage and the county’s detriment.
While exporters and farmers will welcome Labour’s new focus on getting the fundamentals of our economy right, those in favour of the status quo represent a powerful lobby group both numerically and in terms of funding ability.
They have benefited from our dysfunctional economy for so long, that they appear to have mistaken what is good for them as being what is good for the country as a whole, even when there is a mountain of solid evidence to the contrary. read more »