The NZCTU actively works with its affiliates to build a high-wage, high-skill, low-carbon economy in which good work is available to all.
For decades, Aotearoa New Zealand has underinvested in our people and infrastructure, and workers have been denied their fair share of economic growth.
The NZCTU’s policy work focuses on how Aotearoa New Zealand can address its major economic challenges of low wages, climate change, and infrastructure, and how we can build a productive economy in which all workers thrive.
Latest Economy News
- Axing of Pay Equity Taskforce will entrench inequities for working womenThe NZCTU Te Kauae Kaimahi is deeply disappointed by confirmation of the Public Service Commission that the Pay Equity Taskforce will be disestablished. “The disestablishment of the Pay Equity Taskforce… Read More »Axing of Pay Equity Taskforce will entrench inequities for working women
- GDP data camouflages economic weaknessData today released by Statistics New Zealand shows that the economy grew by just 0.2% annually, showing stalled growth and weak demand. There has now been six successive quarters of… Read More »GDP data camouflages economic weakness
- Unemployment data shows need for the Government to act nowNZCTU Economist Craig Renney said new data released by Statistics New Zealand shows the need for Government to act now, with unemployment rising from 3.4% to 4.3%. “There are now… Read More »Unemployment data shows need for the Government to act now
- Submission on the Budget Policy Statement 2024This submission to the Finance and Expenditure Committee highlights issues with the 2024 Budget Policy Statement. Under the Public Finance Act 1989, the Budget Policy Statement (BPS) is meant to… Read More »Submission on the Budget Policy Statement 2024
- Submission on the General Review of the CPTPPThis submission to the Ministry of Foreign Affairs and Trade identifies aspects of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) that need to be addressed as part of… Read More »Submission on the General Review of the CPTPP
- Inflation data shows need for a plan on climate and populationData today shows headline CPI inflation at 4%, continuing the fall begun in March 2023. Rises are concentrated in particular sectors – especially services. This data also shows that that… Read More »Inflation data shows need for a plan on climate and population
Economic Bulletin
The Economic Bulletin provides a worker’s perspective on the New Zealand economy. In each issue, we analyse the latest economic data, examine trends in the New Zealand economy, and discuss policies that will improve outcomes for working people.
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Previous Issues
- Economic Bulletin May 2024Welcome to the May 2024 Economic Bulletin. In our monthly feature we look at the coalition government’s first Budget, and what it means for working people. We break down what… Read More »Economic Bulletin May 2024
- Economic Bulletin April 2024Welcome to the April 2024 NZCTU Economic Bulletin. In our monthly feature we look at the link between economic insecurity and support for populist political parties. Populism is typically defined… Read More »Economic Bulletin April 2024
- Economic Bulletin March 2024Welcome to the March 2024 NZCTU Economic Bulletin. In our monthly feature we look at the Budget Policy Statement (BPS) that the new government released in late March. The role… Read More »Economic Bulletin March 2024
- Economic Bulletin February 2024Welcome to the February 2024 NZCTU Economic Bulletin. In our monthly feature, we compare New Zealand’s economic performance over the COVID-19 period against our performance during and after the global… Read More »Economic Bulletin February 2024
- Economic Bulletin January 2024Welcome to the January edition of the Economic Bulletin. In our monthly feature, we discuss the labour market outlook for the year, setting the forecast rise in unemployment in the… Read More »Economic Bulletin January 2024
- Economic Bulletin December 2023Welcome to the Christmas edition of the Economic Bulletin. In this edition, we unpack the new government’s “Mini Budget”, which was delivered alongside Treasury’s Half-year Economic and Fiscal Update (HYEFU).… Read More »Economic Bulletin December 2023
Budget 23
This is a Budget written in the shadow of an election that will likely define Aotearoa New Zealand for decades to come. It is also a Budget written against the backdrop of inflation, the climate crisis, and other profound challenges for our country.
Budget 2023 shows that the government’s accounts are in a strong position and that our short-term economic position is relatively robust. Much of this Budget is set to ease inflation, with 79% of total costs used just to keep the lights on – against 69% last year and around 50% historically. Government is making some highly targeted investments that will ease cost-of-living pressures, improve living standards for lower-income households, and support science and innovation.
However, government is still hiding behind fiscal indicators instead of delivering the kinds of transformational change that we need. Aotearoa New Zealand should be moving the structural levels of taxation and spending to those we see in the countries that we compare ourselves to.