NZ economy needs more than 'milk, houses and disaster', says Labour's Robertson

Fri, 15 May 2015

By Pattrick Smellie May 15 (BusinessDesk) - The New Zealand economy is overly reliant on "milk, houses and disaster" and will see a significant slowdown in economic growth rates in the near future as recent one-off stimulus wear off, said Labour finance spokesman Grant Robertson. In a speech ahead of the May 21 government budget, he said the record migration surge explained almost half the current economic growth rate of 3.3 percent, while the Canterbury earthquake rebuild was estimated to account for about a third of current growth. "...

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