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

 

Media: Julian Wilcox Leaves Māori TV

Māori Television has confirmed the resignation of Head of News and Production Julian Wilcox. Mr Maxwell acknowledged Mr Wilcox’s significant contribution to Māori Television since joining the organisation in 2004. More>>

ALSO:

Genetics: New Heat Tolerant Cow Developed

Hamilton, New Zealand-based Dairy Solutionz Ltd has led an expert genetics team to develop a new dairy cow breed conditioned to thrive in lower elevation tropical climates and achieve high milk production under heat stress. More>>

Fractals: Thousands More Business Cards Needed To Build Giant Sponge

New Zealand is taking part in a global event this weekend to build a Menger Sponge using 15 million business cards but local organisers say they are thousands of business cards short. More>>

Scoop Business: NZ Net Migration Rises To Annual Record In September

New Zealand’s annual net migration rose to a record in September, beating government forecasts, as the inflow was spurred by student arrivals from India and Kiwis returning home from Australia. More>>

ALSO:

Scoop Business: Fletcher To Close Its Christchurch Insulation Plant, Cut 29 Jobs

Fletcher Building, New Zealand’s largest listed company, will close its Christchurch insulation factory, as it consolidates its Tasman Insulations operations in a “highly competitive market”. More>>

ALSO:

Scoop Business: Novartis Adds Nine New Treatments Under Pharmac Deal

Novartis New Zealand, the local unit of the global pharmaceuticals firm, has added nine new treatments in a far-ranging agreement with government drug buying agency, Pharmac. More>>

ALSO:

Crown Accounts: English Wary On Tax Take, Could Threaten Surplus

Finance Minister Bill English is warning the tax take may come in below forecast in the current financial year, as figures released today confirm it was short by nearly $1 billion in the year to June 30 and English warned of the potential impact of slumping receipts from agricultural exports. More>>

ALSO:

Get More From Scoop

 
 
Standards New Zealand

Standards New Zealand

Mosh Social Media
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news