English set to succeed Key as next NZ leader
Print Edition
NEW Zealand Finance Minister Bill English is set to be confirmed as the country’s next leader after both his competitors for the prime ministership dropped out of the race yesterday.
Health Minister Jonathan Coleman and Police Minister Judith Collins both conceded the race as it became clear that English had the support of the 59-member caucus.
English said the swift agreement within the ruling centre-right National Party on a new leader would help the government ensure a smooth transition following John Key’s surprise resignation earlier this week.
“It’s going to allow us as a government to re-set, look forward and provide New Zealand with good government after John Key,” English told reporters in New Zealand’s distinctive “Beehive” parliament building in the capital, Wellington.
English, who 13 years ago oversaw a disastrous election loss for the National Party to the centre-left Labour Party, takes the reins of a country in good economic shape compared to much of the developed world.
But it hasn’t been smooth sailing in recent years with a slump in global milk prices harming the country’s major export commodity and low inflation causing a persistent monetary policy headache.
English also presided yesterday over a downgrade to the budget surplus estimate for 2016-17. The revision is largely due to an estimated NZ$1 billion (US$720 million) in net costs related to a devastating earthquake that rocked the nation last month.
The government’s half-year economic and fiscal update cut its forecast surplus for the year to end-June to NZ$473 million, down from NZ$719 million.
The hugely popular Key will also be a hard act to follow.
“I won’t do it the same way as John, I’m a different person,” English said.
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