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


Business NZ Growth Scorecard shows mixed results

Business NZ Growth Scorecard shows mixed results

Business NZ's latest update on growth shows some minor changes for the better and one significant change for the worse.

An analysis in December 2001 ('Changing Gear') of the twenty key drivers of economic growth showed that New Zealand had a long way to go to regain its place in the OECD top 10 nations. The latest update against those drivers shows no change in most variables, slight improvement in four, and a large slide in one.

Those variables showing improvement related to Crown spending and debt, and education:

* Central government spending as a proportion of GDP - where the goal is to reduce it below 30% - has dropped from 34% (2001/2 forecast) to 33% (2002/3 forecast).

* Gross Crown debt as a proportion of GDP - where the goal is to reduce it below 25% in the short term - has dropped from 32.7% (2001/2 forecast) to 28.6% (2002/3 forecast).

* Numbers of people involved in formal industry training - where the short-term goal is 160,000 people involved over the year - have increased from 80,000 (in 2000) to 95,263 (in 2002).

* The proportion of school leavers with School Certificate/NCEA level 1 or above - where the goal is 100% - has increased from 80% (2000) to 83% (2001).

But The number of person days lost due to work stoppages, a key variable for the labour market - where the goal is less than 5,000 a year - showed a major increase, from 9,939 (year ended June 2001) to 55,849 (year ended June 2002).

Releasing the update, Business NZ Chief Executive Simon Carlaw said the prospects for growth remained mixed.

"The results relating to the management of the Crown's finances are encouraging, though it must be noted that the 2002/3 figures are forecasts only; moreover the forecasts for government spending in subsequent years do not show the same restraint. The results for industry training and school qualifications are clearly positive. "However, the work stoppages figure is a cause for significant concern, especially since the trend since June 2002 has been downhill further. So is the deterioration of New Zealand's global competitiveness, that should be trending in the opposite direction."

Mr Carlaw said Business NZ's 'Changing Gear' analysis was a useful tool for checking the country's progress against the key variables that had to be met to achieve better economic growth.

© 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>>


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>>


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>>


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>>


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>>


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>>


Get More From Scoop

Search Scoop  
Powered by Vodafone
NZ independent news