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


Statement to Parliament - headlines are on target

1 February 2005

Statement to Parliament - headlines are on target

Many of the headlines from today's Statement to Parliament are good in principle, says Business NZ.

Chief Executive Phil O'Reilly says productivity, education and training, trade, engagement with Asia, Maori development and increased participation by women in the workplace are important for improved growth.

"It's unfortunate, though, that the Prime Minister has given no indication of the one thing we think would do most sustain growth in the medium term - a tax cut.

"And the detail behind some of the headline seems a little illogical. Many businesses would find it hard to agree with the Prime Minister's statement that recent employment relations legislation will improve productivity. Mandating four weeks' holiday, for example, will automatically decrease productivity by 2% from 2007.

"There's also concern that much of what the PM is talking about involves increased taxpayer expenditure, and that's not always the best way. For example, although it's good that the Government is committed to increasing infrastructure development, there's no opportunity signalled for private sector investment in this area.

"While the idea of helping more women into the workforce is a good one, the measures proposed for achieving it sound a bit hard on the taxpayer's wallet.

"Overall, while the headlines of the Statement are very positive, there's a concern that it may be signalling a lot more Government spending and a larger bureaucracy when the smart use of the market and the private sector could be more effective."


© Scoop Media

Business Headlines | Sci-Tech Headlines


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>>


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>>


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>>


Get More From Scoop

Search Scoop  
Powered by Vodafone
NZ independent news