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

 

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:

Auckland Outage: Power Mostly Restored Overnight

Vector wishes to advise that all but 324 customers have been restored overnight. These customers are spread throughout the network in small pockets. The main St Johns feeder was restored around midnight allowing most of the customers in all affected areas to have power this morning. More>>

ALSO:

Get More From Scoop

 
 
Standards New Zealand

Standards New Zealand

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