‘No change needed in policies’
PA Wellington An examination of the trends behind the recent conclusion by the Statistics Department of minus economic growth this year, showed that no change in Government policies were needed, said the Prime Minister (Mr Muldoon) yesterday. A breakdown of the minus 0.8 per cent Gross Domestic Product assessment released earlier this month by the Government Statistician led Mr Muldoon last week to explain a difference in the way in which the department read the figures and the way they were read by the Treasury. But after the Cabinet meeting yesterday .he told journalists that a breakdown of the areas in which the economy was doing badly had shown that the trend was still heading in the right direction. Metal trades and engineering had shown the biggest drop, as had distributing, building and construction. But the metal trades in particular were the ones which would be most affected by the Government's growth strategy. Mr Muldoon said the Treasury estimate that “growth has resumed’’ was likely to be correct.
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Press, 20 October 1981, Page 3
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173‘No change needed in policies’ Press, 20 October 1981, Page 3
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