Helen Clark will implement a scheme to guarantee bank deposits. Photo / Mark Mitchell
Prime Minister Helen Clark today reacted to the economic crisis saying the Government had a plan to cope, including implementing a deposit guarantee scheme.
Speaking at the Labour Party's campaign launch, Miss Clark outlined an economic plan for New Zealand in the face of the international financial crisis.
"Central to our vision for a strong economy is a plan focusing on six critical drivers of economic growth. Labour will also bring forward significant infrastructure spending if necessary in order to secure real jobs."
The drivers were education and skills training, innovation, boosting exports, sustainability, infrastructure and savings.
She said that New Zealand was better placed than many other nations amid the financial crisis, which she credited to Michael Cullen's stewardship.
Finance Minister Michael Cullen is to announce detailed policy this week.
Miss Clark said over the next term Labour would:
* Add 1000 places to the Modern Apprentices Scheme;
* Lift the target for people in industry training to 10 percent of the workforce;
* Introduce a new retraining allowance on the same basis as a student allowance but no income test, for redundant workers;
* Introduce another retraining allowance for those who have worked for 10 years who want to upgrade skills or retrain.
Should economic conditions worsen, the Government would set out steps to reignite the economy in a December economic statement
"If necessary Labour will bring forward infrastructure spending in areas like road and rail construction projects, local government sewerage treatment projects, school property investment and back country catchments and afforestation."
Miss Clark said a housing policy to be released soon and those investments would ensure jobs.
- NZPA
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