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

 


The skills issue: silver linings and grey clouds

Wed, 11 Aug 2004

ITF National Office

The skills issue: silver linings and grey clouds

"The lack of investment in skills training must be fixed", said Darel Hall Executive Director of the Industry Training Federation.

"New Zealand could have had 25,000 more people in industry training in 2004, including another 3,000 Modern Apprentices.

"The ITF estimates the Government's component of the investment in the extra skilled workers would have been an extra $29 million in 2004.

"The ITF further estimates that the contribution from industry would have been an extra $45m - $10m in cash investment and $35m in non-cash investment (for example use of workplace machinery and staff time).

Industry Training is a system that requires a cash contribution from industry and heavily relies on the use of the workplace for the upskilling process. It is a world leading system that maximises the value of taxpayer contribution and taxpayer return.

"The good news is that we have over 130,000 people in industry training now and close to 7,000 Modern Apprentices

"Economist Rod Oram told the ITF Conference in July that we can not double the number of people in our economy to achieve our economic and social goals, therefore the goal has to be double value added per employee.

"We know that 80% of labour force in ten years is already employed - we have to upskill ourselves, we can't rely on our children to build our wealth for us.

"We are reaching a tipping point where leaders in many spheres are reaching the same conclusion - industry training is a vital component to our future that needs priority", Darel Hall said.

ENDS

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

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:

Half A Billion Accounts, Including Xtra: Yahoo Confirms Huge Data Breach

The account information may have included names, email addresses, telephone numbers, dates of birth, hashed passwords (the vast majority with bcrypt) and, in some cases, encrypted or unencrypted security questions and answers. More>>

ALSO:

Rural Branches: Westpac To Close 19 Branches, ANZ Looks At 7

Westpac confirms it will close nineteen branches across the country; ANZ closes its Ngaruawahia branch and is consulting on plans to close six more branches; The bank workers union says many of its members are nervous about their futures and asking ... More>>

Interest Rates: RBNZ's Wheeler Keeps OCR At 2%

Reserve Bank governor Graeme Wheeler kept the official cash rate at 2 percent and said more easing will be needed to get inflation back within the target band. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news