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

 

Power Outages, Roads Close: Easter Storm Moving Down Country

The NZ Transport Agency says storm conditions at the start of the Easter break are making driving hazardous in Auckland and Northland and it advises people extreme care is needed on the regions’ state highways and roads... More>>

ALSO:

Houses (& Tobacco) Lead Inflation: CPI Up 0.3% In March Quarter

The consumers price index (CPI) rose 0.3 percent in the March 2014 quarter, Statistics New Zealand said today. Higher tobacco and housing prices were partly countered by seasonally cheaper international air fares, vegetables, and package holidays. More>>

ALSO:

Notoriously Reliable Predictions: Budget To Show Rise In Full-Time Income To 2018: English

This year’s Budget will forecast wage increases through to 2018 amounting to a $10,500 a year increase in average full time earnings over six years to $62,200 a year, says Finance Minister Bill English in a speech urging voters not to “put all of this at risk” by changing the government. More>>

ALSO:

Prices Up, Volume Down: March NZ House Sales Drop 10% As Loan Curbs Bite

New Zealand house sales dropped 10 percent in March from a year earlier as the Reserve Bank’s restrictions on low-equity mortgages continue to weigh on sales of cheaper property. More>>

ALSO:

Scoop Business: Chorus To Appeal Copper Pricing Judgment

Chorus will appeal a High Court ruling upholding the Commerce Commission’s determination setting the regulated prices on the telecommunications network operator’s copper lines. More>>

ALSO:

Earlier:

Cars: Precautionary Recalls Announced For Toyota Vehicles

Toyota advises that a number of its New Zealand vehicles are affected by a series of precautionary global recalls. Toyota New Zealand General Manager Customer Services Spencer Morris stressed that the recalls are precautionary. More>>

ALSO:

'Gardening Club': Air Freight Cartel Nets Almost $12 Million In Penalties

The High Court in Auckland has today ordered Swiss company Kuehne + Nagel International AG to pay a penalty of $3.1 million plus costs for breaches of the Commerce Act. Kuehne + Nagel’s penalty brings the total penalties ordered in this case to $11.95 million ... More>>

ALSO:

Crown Accounts: Revenue Below Projections

Core Crown tax revenue has increased by $1.9 billion (or 5.0%) compared to the same time last year. However this was $1.1 billion less than expected and is reflected across most tax types, continuing the pattern of recent months. More>>

ALSO:

Get More From Scoop

 
 
Computer Power Plus
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news