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


4%+ Growth Possible only with Direction

24 May 2002

The Canterbury Manufacturers’ Association CEO, John Walley, is encouraged by the government’s recognition of the need for sustainable growth. “Some support for growth drivers are there in the details but they need elevation to the headlines – prudence and business as usual will not win in the accelerating growth game,” he said.

This has not been a spendthrift Budget. The present windfall surplus has sensibly not been spent on the basis that good commodity prices and favorable growing conditions don’t last forever. Some investments are in evidence – education, apprenticeships, and increases in Research and Development support. However the headlines still focus on consumption, propping up our aspirations. We have to make it before we can spend it – without real and sustainable 4%+ growth rate we simply will not be able to pay for what we think we should have.

“If we want a first world economy 3% growth won’t cut it,” said Mr Walley. “What we need is 4%+ growth and the only way to get this is by growing the value added sectors of the economy, and invest in putting the knowledge wave to work in the manufacturing sector where the highest value export dollars are earned.”


© Scoop Media

Business Headlines | Sci-Tech Headlines


'Considering Options' On Tip Top Ownership: Fonterra Drops Forecast Milk Price

Fonterra Co-operative Group Limited today revised its 2018/19 forecast Farmgate Milk Price range from $6.25-$6.50 per kgMS to $6.00-$6.30 per kgMS and shared an update on its first quarter business performance. More>>


Science: Legendary Telescope Being Brought Back To Life

One of the world’s most famous Victorian telescopes will be restored and available for public viewing in Takapō after spending five decades in storage... The Brashear Telescope was used in the late 1800s by Percival Lowell for his studies of Mars. More>>

Employment Amendment Bill Passes: CTU Hails Victory For Working People

"This law allows Kiwis to access their basic rights at work, to make more informed choices about their employment, and help each other get a fairer deal." More>>


$100 Mil Kickoff: Green Investment Finance To Link Investment And Environment

New Zealand Green Investment Finance will be a bridge between investors and the key industries and sectors delivering low emissions projects, says NZGIF Chair Cecilia Tarrant. More>>