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


Election campaign lacks long-term focus

29 October 2008

Election campaign lacks long-term focus

Short-term spending and bank bailout plans have dominated the election campaign so far shifting attention from the local problems that underpin our economy. The New Zealand Manufacturers and Exporters Association (NZMEA) have released a Viewpoint outlining the issues that have caused our economic failure, and offering solutions to promote growth in our productive sector. [‘Long-term thinking the way out of financial crisis’,]

NZMEA Chief Executive John Walley says, “The credit crisis has demonstrated the need for fundamental change in our economic policy. Simply acting to sure up the existing structure will see history repeat itself further down the track. Getting into a deposit guarantee scheme is easy, but getting out of an unstable system will be more problematic. Given taxpayers are underwriting the decisions made by the banking sector, the deals must monitor bank margins and provide some protection for taxpayer money.”

“There has been a lot of speculation over what short-term incentives could be offered to free up credit for New Zealand firms, but the same longer-term investment obstacles still apply. Decisions on where to locate or whether to start an economic activity still rely on long-term prospects as much as short-term credit availability.”

“This makes tax incentives for innovation, incentives to save and a stable framework for tradeable activity the most important issues.”

“There has been a lot of talk about economic leadership from our politicians – leadership requires the fortitude to change unsuccessful policies, rather than hiding behind an economic mantra that has failed the tradeable sector, and will ultimately fail us all.”


© Scoop Media

Business Headlines | Sci-Tech Headlines


Water: Farming Leaders Pledge To Help Make Rivers Swimmable

In a first for the country, farming leaders have pledged to work together to help make New Zealand’s rivers swimmable for future generations. More>>


Unintended Consequences: Liquor Change For Grocery Stores On Tobacco Tax

Changes in the law made to enable grocery stores to continue holding liquor licences to sell alcohol despite increases in tobacco taxes will take effect on 15 September 2017. More>>

Back Again: Government Approves TPP11 Mandate

Trade Minister Todd McClay says New Zealand will be pushing for the minimal number of changes possible to the original TPP agreement, something that the remaining TPP11 countries have agreed on. More>>


By May 2018: Wider, Earlier Microbead Ban

The sale and manufacture of wash-off products containing plastic microbeads will be banned in New Zealand earlier than previously expected, Associate Environment Minister Scott Simpson announced today. More>>


Snail-ier Mail: NZ Post To Ditch FastPost

New Zealand Post customers will see a change to how they can send priority mail from 1 January 2018. The FastPost service will no longer be available from this date. More>>


Property Institute: English Backs Of Debt To Income Plan

Property Institute of New Zealand Chief Executive Ashley Church is applauding today’s decision, by Prime Minister Bill English, to take Debt-to-income ratios off the table as a tool available to the Reserve Bank. More>>