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

 


Productivity focus needed for 2014

Productivity focus needed for 2014


Increased productivity is vital for improved wealth and living standards in the future and everyone has a part to play to achieve it, says BusinessNZ.

Research by the Productivity Commission shows New Zealand’s productivity is still lagging behind Australia’s. Labour productivity is nearly a third lower and multi-factor productivity including productive use of capital is nearly a quarter lower than in Australia.

BusinessNZ Chief Executive Phil O’Reilly said many factors were responsible for the gap.

“Businesses must consider how they can make better use of resources – improving governance, innovating, investing capital, upskilling staff, updating equipment and technology, and using natural and other resources more efficiently and sustainably.

“Many businesses are addressing these issues, for example with recent improvements in capital expenditure. The ExportNZ survey released today also shows businesses focusing on productivity to overcome exchange rate pressures.

“Employers, employees and their representatives need to consider the need for ongoing skill development, higher productivity targets and positive contribution to company goals.

“And the Government has a crucial role in creating the conditions for improved productivity. It needs to actively consider whether its policies are allowing the private sector to achieve at a high enough level. Policies that encourage investment and competition, safeguard property rights and provide for productive workplaces are fundamental, and more work is required in several of these areas.

“Laws and regulations are themselves important, since key laws such as the Resource Management Act and others are actually harming productivity growth – a regulatory responsibility act that ensures fewer, better quality laws is needed.

“The Productivity Commission is performing a valuable task in bringing productivity issues to national attention. Our best response would be to work on improving productivity outcomes in 2014,” Mr O’Reilly said.

ends

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Housing Policy: Auckland Densification As Popular As Ebola, English Says

Finance Minister Bill English said calls by the Reserve Bank Governor for more densification in Auckland’s housing were “about as popular in parts of Auckland as Ebola” would be. More>>

ALSO:

Crown Accounts: NZ Government Deficit Smaller Than Expected In First Half

The New Zealand government's operating deficit was smaller than expected in the first six months of the financial year, as the consumption and corporate tax take rose ahead of forecast in December, having lagged estimates in previous months. More>>

ALSO:

Fruit & Veg Crackdown: Auckland Fruit Fly Find Under Investigation

The Ministry for Primary Industries (MPI) is investigating a find of a single male Queensland fruit fly in a surveillance trap in the Auckland suburb of Grey Lynn... MPI has placed legal controls on the movement of fruit and some vegetables outside of a defined circular area which extends 1.5km from where the fly was trapped in Grey Lynn. More>>

ALSO:

Scoop Business: Westpac NZ Reaches $2.97M Swaps Settlement

Westpac Banking Corp’s New Zealand unit has agreed to pay $2.97 million in a settlement with the Commerce Commission over the way the bank sold interest rate swaps to farmers between 2005 and 2012. More>>

ALSO:

Going Dutch: Fonterra Kicks Off $144M Partnership With Dutch Cheese Maker

Fonterra Co-operative Group, the world’s largest dairy exporter, has commissioned a new dairy ingredients plant in Heerenveen, in the north of the Netherlands, its first wholly-owned and operated ingredients plant in Europe. More>>

ALSO:

Scoop Business: NZ Retail Sales Beat Estimates

New Zealand retail sales rose more than expected in the fourth quarter, led by vehicle-related transactions, food and beverages, adding to evidence that cheap credit and a growing jobs market are encouraging consumers to spend. More>>

ALSO:

Delivery Cuts Go Ahead: 'Government Money Grab' From NZ Post

"It's a money grab by the Government as the shareholder of New Zealand Post" says Postal Workers Union advocate Graeme Clarke about the changes announced by NZ Post. More>>

ALSO:

Get More From Scoop

 
 
Standards New Zealand

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