KEY POINTS:
Prime Minister John Key has countered accusations of a "summer holidayish" approach to the credit crunch - saying his Hawaiian holiday had given him a glimpse of the true sluggishness of the United States economy.
Looking cheerful after his break, Mr Key said the country was in for
a "particularly challenging year" as the recession started to bite.
He defended his Government's 100-day plan, which has copped criticism in the face of a lengthy summer break by politicians.
The new Government had been working on a "number of initiatives" over the summer, and it should not be underestimated how much was planned in "providing confidence and support" in the coming year.
Senior Government ministers will meet at the Beehive today to finalise plans for a prime ministerial summit on employment, planned for late next month.
Mr Key announced the February 27 summit, which will be open to union, business and government representatives, at a press conference in Auckland yesterday.
It would be chaired by a yet-to-be-announced "private sector person", who was working on the project.
Mr Key said: "I don't want this to be a talkfest, I want it to be a do-fest."
Mr Key said the Government's "rolling maul" of initiatives in its 100-day-plan included today's meeting with ministers holding senior economic and financial portfolios.
And he said that despite the economic gloom he remained confident about New Zealand's long-term prospects.
"I am confident we will get through this over time ... [but] it's going to be a challenge in 2009."
There were many things that could be done to improve competitiveness in the economy, including streamlining legislation that could hold up growth, such as the Resource Management Act.
He was confident the Government was on the right track as it went about protecting the economy from the ravages of the global recession.
"We're using our balance sheet to try to provide support to the economy," he said, pointing to the $7 billion that will go into it through tax cuts and other measures already announced.
Mr Key also addressed international issues. He said the Government was "monitoring closely" the situation in Fiji, and urged New Zealanders planning a trip to check Ministry of Foreign Affairs and Trade travel advisories before flying out.
New Zealand would continue to call for a ceasefire in the conflict raging in the Gaza Strip.
"The leaders of Israel and Hamas should show some leadership and end their fighting."
He said the Government supported the United Nations' handling of the Gaza situation.
- NZPA