Brash predicted that the New Zealand economy is “ ...almost certainly headed for a recession. ” He later said “ A recent survey in the Christchurch Press suggested [the] South Island was already teetering on the brink of recession. ” Brash said business confidence in New Zealand is at its lowest level in 30 years and almost every day there is another company closing its doors or sharply reducing its staff. He predicted that “ many businesses will face very tough times, and that unemployment will rise steeply. ” Brash said the blame for any recession will lie squarely with the Prime Minister Helen Clark and Labour. “ [The] Government is asleep at the wheel. ” He warned that people will lose their jobs and savings because of its incompetence. Finance Minister Michael Cullen called Brash's speech “ vastly underwhelming". He also claimed the speech was riddled with inaccuracies, particularly over Government spending.
Brash predicted that the New Zealand economy is " ...almost certainly headed for a recession. " He later said " A recent survey in the Christchurch Press suggested [the] South Island was already teetering on the brink of recession. " Brash said business confidence in New Zealand is at its lowest level in 30 years and almost every day there is another company closing its doors or sharply reducing its staff. He predicted that " many businesses will face very tough times, and that unemployment will rise steeply. " Brash said the blame for any recession will lie squarely with the Prime Minister Helen Clark and Labour. " [The] Government is asleep at the wheel. " He warned that people will lose their jobs and savings because of its incompetence. Finance Minister Michael Cullen called Brash's speech " vastly underwhelming". He also claimed the speech was riddled with inaccuracies, particularly over Government spending.
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