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

 


Capital markets report identifies challenge to growth

February 27, 2013

Capital markets report identifies challenge to growth

For New Zealand exports to rise to 40 per cent of GDP, $200 billion in capital is needed by 2020, much more than is currently invested in our export economy.

That's the scale of the challenge presented by the Building Capital Markets report issued today, said Kim Campbell, chief executive of the Employers and Manufacturers Association.

"It means we need to complete the work identified in the five earlier reports of the Government's Growth Agenda's if adequate capital is to migrate here," Mr Campbell said.

"The success of the Growth Agenda overall depends on it.

"But if this Capital Market agenda did nothing else more than reducing the premium on interest rates we all pay to the levels of our trade competitors it would be a great result.

"At present New Zealand's perceived risk profile internationally means we effectively end up paying one per cent more in interest than our trade competitors - a huge sum.

"What we need now is clear unambiguous policy settings and tighter time frames to attract the foreign investment we all know we need.

"The Capital Markets report identifies the Crown's own balance sheet, the domestic housing market, and private savings rates as important work streams - all laudable.

"Further examination is needed on how ACC and KiwiSaver investments could be leveraged, along with the SOEs and other state uses of capital in order to achieve the best productive use from government controlled funds.

"Our businesses must become less risk averse, more willing to innovate, and to accept capital from wherever it may come from, in exchange for growth."

ENDS

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Royal Society: Review Finds Community Water Fluoridation Safe And Effective

A review of the scientific evidence for and against the efficacy and safety of fluoridation of public water supplies has found that the levels of fluoridation used in New Zealand create no health risks and provide protection against tooth decay. More>>

ALSO:

Scoop Business: Croxley Calls Time On NZ Production In Face Of Cheap Imports

Croxley Stationery, whose stationery brands include Olympic, Warwick and Collins, plans to cease manufacturing in New Zealand because it has struggled to compete with lower-cost imports in a market where the printed word is giving way to electronic communications. More>>

ALSO:

Prefu Roundup: Forecasts Revised, Surplus Intact

The National government heads into the election with its Budget surplus target broadly intact, delivering a set of economic and fiscal forecasts marginally revised from May to reflect weaker commodity prices and a lower tax take. More>>

ALSO:

Convention Centre: Major New SkyCity Hotel And Laneway For Auckland

Today SKYCITY Entertainment Group Limited revealed plans to build a new hotel and pedestrian laneway of bars, restaurants and boutique shopping on land it owns in the Nelson and Hobson Streets block, expanding the SKYCITY Entertainment Precinct. More>>

ALSO:

Igniting The Spark: Bringing The Digital Enabler To Life

Changing a name is, relatively speaking, the easy part of a re-invention. Changing a culture, getting all the ducks in a row, turning yourself inside-out to become customer-inspired is a much bigger challenge. More>>

ALSO:

Ebola And NZ: Targeted Screening At Airport But Risk Low

The risk of any cases of Ebola in New Zealand remains very low, but health and border authorities are well prepared... anyone arriving in New Zealand who in the last three weeks has visited countries affected will be screened for symptoms of the disease. More>>

ALSO:

Scoop Business: Brewer Seeking Crowd-Funding Cancels Shareholders’ Dividends

Shareholders in Renaissance Brewing company, the first business to seek equity through crowd-funding in New Zealand, have cancelled their claim on $147,000 of accumulated earnings “to make Renaissance a more attractive investment opportunity.” More>>

ALSO:

Get More From Scoop

 
 
Computer Power Plus

Standards New Zealand

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