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

 


Export report praised for raising difficult questions

Media statement Friday, November 16th, 2012

Export report praised for raising difficult questions

The NZIER report released today, Lifting Export Performance prepared for Export New Zealand is a timely reminder of the challenging issues facing us if we are to improve our standard of living, the Employers and Manufacturers Association says.

"Boosting exports is vital to lift New Zealand's economic performance," said EMA chief executive Kim Campbell.

"This report asks the difficult questions why we are not improving our export performance faster, and in a fresh way," he said.

"It underscores that we must not underestimate the challenges of scale and distance our businesses face.

"New Zealand has to compete for investment dollars the same as every other country, and for us to attract investment in productive enterprise we need to focus on doing extremely well those things where we display demonstrable strength.

"But to grow our exports we will also need to specialize and diversify further.

"To do that we could introduce new policies and practices to offset the challenges faced by some of our exporters, though there is no silver bullet.

"Its gratifying the report agrees our company tax rate is too high for a country of our size, location and modest income levels. We should aim to get ours to 20 per cent, comparable with Switzerland or Chile.

"We note it says government spending can have unintended consequences and act as a tax on exports.

"Keeping Government spending under firm control, and the public saving more, will have far more impact on the exchange rate than trying for a quick fix such as printing money.

"All New Zealanders must understand we cannot achieve higher standards of living without funds to invest in productive businesses.

"The report remains silent on the gains to be had from investing in manufacturing; every job created in manufacturing delivers five more in the wider economy. The lack of extrapolation of this through to the export sector and job creation is somewhat surprising given the report is authored by the NZIER think tank.

"We agree that developing a population policy would be valuable; however 15 million people by 2050 is aspirational and invites speculation on what New Zealand would be like with such a level of population density.

"Another unanswered question is: What should we do now?

"Its no use thinking by standing on an acorn we will end up at the top of an oak tree."

ends

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Finance: Major Campaign To End "Gross Overtaxation Of Savings"

The campaign – which includes a special web site through which New Zealanders can e-mail their own and other MPs and party leaders – is backed by Age Concern, Consumer NZ, the Financial Services Council and the Taxpayers’ Union. More>>

ALSO:

Scoop Business: Leighton-Led WGP To Build, Manage Transmission Gully

The Wellington Gateway Partnership, led by a unit of ASX-listed Leighton Holdings, has won the $1 billion contract to build the Transmission Gully road north of Wellington. More>>

ALSO:

Gareth Morgan: The Government’s Fresh Water Policy – Revisited

Fresh water quality is the latest area to be in the sights of Gareth Morgan and his research organisation The Morgan Foundation... They found that the fresh water policy was a bit murkier than the Environment Minister let on. More>>

ALSO:

Interest Rates: RBNZ Hikes OCR To 3.5%, ‘Period Of Assessment’ Now Needed

Reserve Bank governor Graeme Wheeler raised the official cash rate as expected, while signalling a pause in rate hikes to assess the impact of moves so far this year. The kiwi dollar sank after Wheeler said its strength was “unjustified” and that the currency could have “a significant fall.” More>>

ALSO:

Fonterra: Canpac Site 'Resize' To Focus More On Paediatrics

Fonterra is looking at realigning its packing operations at Canpac, in the Waikato, to focus more on paediatric nutritionals... The proposed changes could mean around 110 roles may not be required at the site which currently employs 330. More>>

ALSO:

Scoop Business: Postie Plus Brand Gets 2nd Chance With Well-Funded Pepkor

The Postie Plus brand is getting a new lease of life after South Africa’s Pepkor bought the failed retailer’s assets out of administration and said it will use its purchasing power to reduce costs of stock and fatten margins. More>>

ALSO:

Get More From Scoop

 
 
Computer Power Plus

Standards New Zealand

Standards New Zealand
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news