New Zealand promises "stable and growing" economy in policy program

WELLINGTON, Dec. 14 (Xinhua) -- New Zealand Finance Minister Grant Robertson said on Thursday that the government's policy program will deliver a "stable and growing" economy which is fair for all New Zealanders.

The newly released Budget Policy Statement sets out the agenda to build "a sustainable and productive economy that shares the benefits of prosperity with all New Zealanders," Robertson said.

"We will fix New Zealand's social and infrastructure deficits by investing in families, education, health, housing and our regions," he said.

The government also announced the full details of the family package, which targets spending at those who need it most, he said, adding that it will lift 88,000 children out of poverty by 2021.

"Boosts to Working for Families, the introduction of Best Start and the Winter Energy Payment, reinstating the Independent Earner Tax Credit and continuing with the recent Accommodation Supplement changes will greatly help struggling families to access the basics which all New Zealanders should have," the minister said.

Over the next four years, economic growth is set to remain strong, averaging three percent, he said, adding that unemployment is forecast to fall to the government's 4-percent target, and wages are forecast to rise on average by more than 3 percent annually.

The Treasury forecasts the government spending will be kept within its recent historical range, and that net core debt will fall to 19.3 percent of GDP within five years, Robertson said. Enditem