Thu, Oct 26, 2017 - Page 4 News List

Winston Peters appointed NZ deputy prime minister

‘FORTRESS NEW ZEALAND’:Peters and prime minister-elect Jacinda Ardern favor protectionist policies that could hurt the country’s reputation as an open economy

Reuters, WELLINGTON

Veteran protectionist politician Winston Peters was yesterday appointed New Zealand deputy prime minister and minister of foreign affairs, saying he would seek a greater voice in international affairs, including North Korea.

Peters is among a handful of Western politicians to have visited North Korea when he was foreign minister in a previous New Zealand government in 2005.

New Zealand First Party leader Peters delivered government to the Labour Party through a coalition deal after a closely fought election on Sept. 23 failed to result in a majority for the governing National or Labour parties.

Peters and New Zealand Labour Party’s prime minister-elect Jacinda Ardern have found common ground in “fortress New Zealand” type of policies, but trade and foreign ownership restrictions could hurt New Zealand’s reputation as an open economy, and antagonize the likes of China.

Trade between the two countries has grown to more than NZ$20 billion (US$14.4 billion) a year and Chinese President Xi Jinping (習近平) called the relationship “unprecedented” in its depth.

While Peters was expected to be offered the deputy role after obtaining the balance of power, his appointment as both deputy prime minister and foreign minister was unexpected.

Massey University politics professor Richard Shaw said Peters was a “conservative economic nationalist.”

“One of the things we’ve seen from him over the last couple of weeks is the concern with the extent that relatively unbridled free trade has on his constituents,” Shaw said.

Many of Labour and New Zealand First’s policies during the campaign drew on voter concerns that immigration and foreign buyers of local homes were putting too much pressure on infrastructure and house prices.

Peters said he wanted to forge stronger ties with Australia, where tensions have increased recently.

Labour’s finance spokesman Grant Robertson is to become minister of finance in the incoming government, placing him at the center of plans to overhaul monetary policy.

Robertson, a political adviser under former New Zealand prime minister Helen Clark of the Labour Party, is to appoint a new central bank governor.

The Labour-led government plans to reform the Reserve Bank Act to possibly include employment, alongside inflation, as a dual target.

Labour wants the Reserve Bank to have a full employment goal when devising policy settings, bringing it into line with the US and Australia.

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