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Russel Norman on managing down the Kiwi dollar

Russel Norman MP
Russel Norman MP
russel [dot] norman [at] parliament [dot] govt [dot] nz (Email)

If there is a small decrease in the value of the New Zealand dollar, it's possible it could have some impact in terms of import prices, but the quid pro quo is that we maintain employment, people in the export sector and then those that compete with imports, and it also means that we don't build up huge amounts of debt - because we're currently borrowing to pay for imports. it means that we'd have a managed approach to it, because it's completely unsustainable to keep borrowing for imports. Sooner or later there will be an adjustment; I'd rather we made that adjustment in a measured way while protecting people, rather than it happening in a big shock in 5 years' time.

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