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How far will Labour go?


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Vernon Small has penned a disturbing article in the Dominion Post on Labour’s apparent moves to abandon an attempt to seek consensus with National and maintain the current bi-partisan stance on the Policy Targets Agreement with the Reserve Bank and possibly the Reserve Bank Act itself.

Adam views these moves by Labour with immense concern.

See this post at The Visible Hand in Economics also. If you have any thoughts, from an economics perspective, on this issue, please add them to the thread at TVHE. Others please feel free to post here.

Adam sees this as an overtly political act, especially as the remarks were made by Mallard and not Cullen.

Whilst not always agreeing with actions taken by the RBNZ Adam regards the current structure as a key element in the maintenance of a sound economic framework. The abandonment of a broadly bi-partisan approach would he thinks not be a good thing and would herald considerable uncertainty and disarray in the markets.

  1. 03/07/2008 18:16

    Interesting this afternoon when Cullen did the Business Statement for the next three-week session. Cullen made no mention of the ETS legislation as being a priority. If they don’t bring it back to the House in the next sitting, there may well not be enough time to ram it through before Parliament rises for the election. The Hive speculated last week that H2 was struggling to get the numbers for H1 – they might be right on the button.


  2. adamsmith1922 permalink*
    03/07/2008 17:34

    hp, you are correct.

    The EFA was appalling, but the economic carnage from this wrongly handled, along with the ETS is simply too horrendous to contemplate


  3. 03/07/2008 16:59

    How far will they go? They’ve already gone too far.

    Constitutional changes are supposed to have wide cross-party support but Labour trampled all over that convention with the EFA. Now they’re politicising monetary policy too.


  4. 03/07/2008 15:19

    Thanks for the link and the comments over at TVHE – it is much appreciated



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