Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


EMA Central Suggests Treasury Gets Creative

January 17, 2002

The Employers & Manufacturer’s Association (Central) congratulates Treasury on its attempt to find ways to work around a couple of age-old economic problems, New Zealand’s size and its distance from the rest of the world.

EMA Central chief executive Paul Winter says it is heartening to hear Treasury’s “economic transformation” project is attempting to work out why New Zealand continues to struggle to achieve the levels of growth reached by comparable economies.

“Many hard-working and intelligent people have given this issue considerable thought since New Zealand began to lose its way economically in the mid-70s. We’ve had all kinds of government-led attempts to revive our heady days of growth back in the 60s,” Mr Winter says.

EMA Central’s advice to Treasury would be to think outside the square. Find ways to compete which overcome the tyranny of distance.

“Just one example would be to think more seriously about aligning our currency with our trading partners, most obviously, Australia. Many New Zealand businesses are small and struggle to do business overseas, even too Australia. A steady foreign exchange relationship with that country would do much to help Kiwi exporters build their markets.

“We don’t need to lose our own distinctive banknotes. All we do is fix our exchange rate say at NZD$1 to A.80c, our dollar then moves right along with the Aussie dollar on the international markets, and our exporters always know where they stand.

“This is not rocket science, and it’s not new. Hong Kong already pegs its dollar in the same way to the US dollar,” Mr Winter says.

ENDS


© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Onetai Station: Overseas Investment Office Puts Ceol & Muir On Notice

The Overseas Investment Office (OIO) has issued a formal warning to Ceol & Muir and its owners, Argentinian brothers Rafael and Federico Grozovsky, for failing to provide complete and accurate information when they applied to buy Onetai Station in 2013. More>>

ALSO:

Tomorrow, The UN: Feds President Takes Reins At World Farming Body

Federated Farmers president Dr William Rolleston has been appointed acting president of the World Farmers’ Organisation (WFO) at a meeting in Geneva overnight. More>>

ALSO:

I Sing The Highway Electric: Charge Net NZ To Connect New Zealand

BMW is turning Middle Earth electric after today announcing a substantial contribution to the charging network Charge Net NZ. This landmark partnership will enable Kiwis to drive their electric vehicles (EVs) right across New Zealand through the installation of a fast charging highway stretching from Kaitaia to Invercargill. More>>

ALSO:

Watch This Space: Mahia Rocket Lab Launch Site Officially Opened

Economic Development Minster Steven Joyce today opened New Zealand’s first orbital launch site, Rocket Lab Launch Complex 1, on the Mahia Peninsula on the North Island’s east coast. More>>

Earlier:

Marketing Rocks!
Ig Nobel Award Winners Assess The Personality Of Rocks

A Massey University marketing lecturer has received the 2016 Ig Nobel Prize for economics for a research project that asked university students to describe the “brand personalities” of three rocks. More>>

ALSO:

Nurofen Promotion: Reckitt Benckiser To Plead Guilty To Misleading Ads

Reckitt Benckiser (New Zealand) intends to plead guilty to charges of misleading consumers over the way it promoted a range of Nurofen products, the Commerce Commission says. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news