Nats eye nationally-significant roads, science awards & oil exploration in 120 point development package of completed, current and new policies

The National Party will invest in more roads it says are of national significance, will initiate a science award for issues such as reducing greenhouse gas emissions, and will encourage more oil, gas and mineral exploration if it wins a second term at the November 26 general election.

Prime Minister John Key today released a 120-point economic development package of already completed, current, and new policies which he said would help boost New Zealand's export sector.

Labour finance spokesman David Cunliffe immediately attacked the package, saying it was "clearly a panicked response to Business NZ’s survey of no confidence in the National Government’s lack of a coherent economic strategy, which is in stark contrast to Labour’s well developed economic plan". 

The Business NZ survey refered to by Cunliffe was released on October 31. It showed two-thirds of businesses surveyed either did not think, or were unsure, that the government had a clear plan to lift New Zealand's economic performance. Read the Deloitte-Business NZ survey here.

“Instead of real reform, National is again re-announcing the roll-out of ‘roadband’ (sic) that was nearly three years behind schedule," Cunliffe said.

"Upgrading the electricity grid was a Labour initiative – and now Kiwis face the prospect of faster price rises if power companies are privatised. Transport costs have grown under National, have grown not fallen.  Meanwhile National continues to ignore real investment in a low carbon, high energy-efficiency future, pandering to farmers and further diluting the ETS," he said.

See and compare economic policies of all parties in Parliament here in our party policy section.

Prime Minister John Key said the package would compliment National's fiscal policy commitment to get the government's books back to surplus by 2014/15 and start repaying Crown debt.

"The top level plan for balancing the books, paying off debt and having a competitive tax system is critical for growth, but work at the industry level is also important," Key said.

"This [package] outlines 120 key action points, some of which are new, some that are in progress, and some completed ones that are starting to show dividends. Together, they will help drive our industries forward so we can sell more to the rest of the world," he said.

See the 120 point package, and the progress of each point, here.

'The world wants our oil'

Minister for Energy and Resources Hekia Parata said New Zealand could not ignore the economic opportunity that continuing global oil demand provided New Zealand:

Here is Energy Minister Hekia Parata talking about New Zealand's oil exploration potential:

(Updates with link to 120 point package, quotes from Key, videos, reaction from Cunliffe)