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


Dump Levy Options: Waste Work Programme Announced

Associate Environment Minister Eugenie Sage has announced a programme of work to take action on New Zealand’s long-neglected waste problems. More>>


Real Estate: Foreign Buyers Ban Passes Third Reading

The Bill to put in place the Government’s policy of banning overseas buyers of existing homes has passed its third and final reading in the House. More>>


Nine Merger: Fairfax Slashes Value Of NZ Business

Fairfax Media Group more than halved the value of its Kiwi assets, attaching just A$40 million to mastheads that were once the core of a billion dollar investment. More>>

Collecting Scalpers: Commerce Commission To Sue Viagogo

The Commission will claim that Viagogo made false or misleading representations: • that it was an “official” seller, when it was not • that tickets were limited or about to sell out • that consumers were “guaranteed” to receive valid tickets for their event • about the price of tickets... More>>


Price Of Cheese: Fonterra CEO Goes Early After Milk Price Trimmed

Aug. 15 (BusinessDesk) - Fonterra Cooperative Group chief executive Theo Spierings is leaving the role early after the world's biggest dairy exporter lowered its farmgate payout and trimmed its dividend to retain cash. More>>