Economic mismanagement and recklessness by the Government has seen a decline in business confidence that is hurting manufacturers, National’s Finance Spokesperson Paul Goldsmith says.
“Remember the so-called ‘Manufacturing Crisis’ that Labour cried about in Opposition? Back in 2013, confidence levels ranged between 17 and 44. Now manufacturing confidence levels are -57 and the Government seems to have manufactured a real crisis.
“This Government has imposed cost after cost on New Zealand businesses, introducing fuel taxes and clumsily reforming industrial relations, contributing to a stagnating economy.
“The Performance of Manufacturing Index (PMI) has entered its fourth consecutive month below the long-term average.
“The economy has declined sharply and business confidence is the lowest it has been in a decade because the Government has imposed more costs, created high levels of uncertainty and demonstrated incompetence.
“Manufacturing confidence is now suffering under the weight of new taxes, increased staffing shortages and higher overheads.
“The Government must detail its plan to ensure the sector returns to being productive and confident, as it was under National.”