Economy strengthening
The last few years have been tough for New Zealand and its economy. We have suffered the worst financial crisis since the Great Depression, the worst drought in 70 years and of course the devastating earthquakes in the Canterbury region.
However, we have weathered this storm and the future is looking bright.
New Zealand is making some big gains as the Government guides us towards clearing our deficit and reaching a surplus by next year.
The New Zealand economy is forecast to grow at 3.5% this year and the Government books are looking strong.
A great local example is the Horowhenua District Council’s (HDC) recent formation of an economic development board.
The board is producing an economic growth strategy that will guide the region over the next three years.
The most important outcome will be the expansion of local businesses and the creation of new jobs.
Their focus will be on recruiting higher-skilled workers into the region and increasing investment in the local economy.
This announcement follows up nicely with indicators recently commissioned by HDC regarding the district’s economy.
New research shows that the Horowhenua economy is in growth mode, with house sales, motor vehicle purchases, building consents and retail spending all on the way up.
This ties in nicely with the 1000 jobs being created as result of the Kapiti Expressway.
The 2.5% increase in the OCR released last week will have an impact. Of course for those people with mortgages, it will mean slightly higher costs.
It is important to note however that interest rates have been at 50-year lows for the past three years. New Zealand has experienced small rate increases compared to the high rates experienced during the Labour Government’s past tenure.
This small increase in the interest rate shows us that the economy is gaining momentum, which is great for our region.
From my diary:
*Cabinet on Monday.
*The House is sitting this week.
*On Wednesday I will be officially opening a new Seed and Grain store in Templeton.
*On Friday I am in the electorate.
New Zealand is making some big gains as the Government guides us towards clearing our deficit and reaching a surplus by next year.
The New Zealand economy is forecast to grow at 3.5% this year and the Government books are looking strong.
A great local example is the Horowhenua District Council’s (HDC) recent formation of an economic development board.
The board is producing an economic growth strategy that will guide the region over the next three years.
The most important outcome will be the expansion of local businesses and the creation of new jobs.
Their focus will be on recruiting higher-skilled workers into the region and increasing investment in the local economy.
This announcement follows up nicely with indicators recently commissioned by HDC regarding the district’s economy.
New research shows that the Horowhenua economy is in growth mode, with house sales, motor vehicle purchases, building consents and retail spending all on the way up.
This ties in nicely with the 1000 jobs being created as result of the Kapiti Expressway.
The 2.5% increase in the OCR released last week will have an impact. Of course for those people with mortgages, it will mean slightly higher costs.
It is important to note however that interest rates have been at 50-year lows for the past three years. New Zealand has experienced small rate increases compared to the high rates experienced during the Labour Government’s past tenure.
This small increase in the interest rate shows us that the economy is gaining momentum, which is great for our region.
From my diary:
*Cabinet on Monday.
*The House is sitting this week.
*On Wednesday I will be officially opening a new Seed and Grain store in Templeton.
*On Friday I am in the electorate.