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


Tariff Decision Positive for Growth

Tariff Decision Positive for Growth

"The announcement of a plan to reduce tariffs to maximum rates of 5 and 10 percent by 2009 is a small but positive step in the right direction", the executive director of the New Zealand Business Roundtable, Roger Kerr, said today.

"The government's earlier decision to postpone tariff reductions was inconsistent with its goals of faster economic growth and greater global connectedness."

Mr Kerr said that New Zealand 's tariffs were a tax on exports, protected jobs in less competitive industries at the expense of more productive jobs elsewhere, and hit lower income consumers hardest. Unilateral reductions were superior to distorting preferential trade agreements.

It made no sense for New Zealand to wait for other countries to make similar moves. A policy to refrain from taxing our own consumers and misallocating resources only if other countries did likewise made no sense.

The Business Roundtable had recommended a faster programme for the removal of all tariffs, noting that the most protected industries had had 25 years to adjust to import competition.

"To help affected industries compete and improve resource use further, the decision should be complemented by moves to facilitate labour market adjustment, reduce domestic costs and prepare the ground for a move to full free trade", Mr Kerr concluded.

© 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