The economy is growing, unemployment is dropping, and our exports are increasing.

About 40,000 more people are in jobs than this time last year. The value of New Zealand’s exports has increased by 15 per cent as we enjoy near record commodity prices.

And all of this is happening as we rebalance our economy on to a more sustainable footing – away from borrowing and consumption, and towards saving, investment, and exports.

New Zealanders are saving more rather than borrowing to speculate on houses or buy flat screen TVs.

This trend towards saving more builds a strong platform for faster long-term economic growth.

Growth matters. It creates jobs. It lifts incomes. It boosts living standards and pays for the world-class health and education services that families need.