Economy Of New Zealand

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and finance. The two countries have also worked closely together to promote free trade in the World Trade Organization and the Asia-Pacific Economic Cooperation forum.
The Labour party had not only changed nuclear policies in 1984, but also introduced a monetarist economic policy in a major effort to reduce the government budget deficit and inflation that resulted largely from an attempt in the 1970s to diversify New Zealand’s production. This new plan was executed through seven major alterations:
1) The increase of privatizations through the sale of government-owned enterprises.
2) Elimination of Government subsidies.
3) Liberalization of import regulations.
4) Exchange rates freely floated.
5) Removal of controls on interest rates, wages, and prices.
6) Reduction of marginal rates of taxation.
7) Cutbacks on health, education and social security benefits.
This Laissez-Faire attitude did indeed decrease the deficit and lower inflation; it also increased growth, the value ...

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