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

 

Fonterra: Canpac Site 'Resize' To Focus More On Paediatrics

Fonterra is looking at realigning its packing operations at Canpac, in the Waikato, to focus more on paediatric nutritionals... The proposed changes could mean around 110 roles may not be required at the site which currently employs 330. More>>

ALSO:

Scoop Business: Postie Plus Brand Gets 2nd Chance With Well-Funded Pepkor

The Postie Plus brand is getting a new lease of life after South Africa’s Pepkor bought the failed retailer’s assets out of administration and said it will use its purchasing power to reduce costs of stock and fatten margins. More>>

ALSO:

Warming: Warming Signs From State Of Climate Report

Climate data from air, land, sea and ice in 2013 'reflect trends of a warming planet' -- says the latest State of the Climate report, launched by U.S. and New Zealand scientists. More>>

ALSO:

Scoop Business: Embrace Falling Home Affordability, Says NZIER

Despair over the inability to afford a house is misplaced and should be embraced as an opportunity to invest in more wealth-creating activity, says the principal economist at the New Zealand Institute of Economic Research, Shamubeel Eaqub. More>>

Productivity Commission: NZ Regulation Not Keeping Pace

New Zealand regulators often have to work with out-of-date legislation, quality checks are under strain, and regulatory workers need better training and development. More>>

ALSO:

Callaghan Innovation: Investment To Help Deepen Innovation Reporting

Callaghan Innovation, the government’s high tech HQ for Kiwi business, is to help deepen New Zealand media coverage of the commercialisation of innovation through an arms-length partnership with independent business news service BusinessDesk. More>>

ALSO:

Tax Credits, Grants: Greens $1Bn R&D Plan

In the Party’s headline economic announcement, the Greens have launched their plan to build a smarter, more innovative economy which has as its centrepiece an additional $1 billion of government investment in research and development (R&D) above current spend, including tax breaks for business. More>>

ALSO:

Inflation: CPI Increases 0.3 Percent In June Quarter

The consumers price index (CPI) rose 0.3 percent in the June 2014 quarter, Statistics New Zealand said today. This follows rises of 0.3 percent the March quarter and 0.1 percent in the December 2013 quarter. More>>

ALSO:

Get More From Scoop

 
 
Computer Power Plus

Standards New Zealand

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