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

 


Facilitating growth in an uncertain world

MEDIA RELEASE – 9th June 2014

KPMG Agribusiness Agenda 2014

Facilitating growth in an uncertain world

Embargoed until 6.00am Monday 9th June 2014


Primary sector leaders are approaching the 2014 election with “some degree of trepidation”, reports KPMG New Zealand.

That was a key theme of the just-released Volume 1 of the 2014 KPMG Agribusiness Agenda, titled “Facilitating Growth in an Uncertain World”.

KPMG’s Global Head of Agribusiness, Ian Proudfoot, says discussions with more than 150 industry leaders revealed many were concerned about the unknowns surrounding the September election outcome.

“The possibility of any potential alternative coalition government, and its likely policy position towards the primary sector, was a top-of-mind issue for industry leaders during our discussions.”

“There is a high level of uncertainty around the future direction of policies that are critical to the success of the sector.”

For instance, leaders are focused on whether the next government will remain committed to free and open trade access. Securing high-quality trade agreements and market access for New Zealand’s products was ranked an increasingly important issue in the 2014 Agenda.

Other areas that could potentially be affected after the election included: the future direction of environmental policies; continued investment in water infrastructure; policies around foreign direct investment/immigration; and the level of public funding for R&D.

However some leaders interviewed for the Agenda recognised there were some potential policies of an alternative government that could have “real appeal” for the sector.

According to Proudfoot: “One positive expectation is that a new coalition government would take a much more active stance in promoting sustainable business – with a particular focus on increasing R&D investment into environmental issues such as greenhouse gases, nutrient leaching, and water quality.”

In other key findings from the 2014 Agenda, biosecurity was ranked as the top priority by industry leaders for the fourth consecutive year; and negotiating Government Industry Agreements (GIAs) was a key focus.

“Last year, the discussion centred on whether or not a sector should enter into a GIA with the Ministry,” says Ian Proudfoot.

“Now, most leaders consider that engaging with MPI makes good sense. The debate has moved on to what should be included in the GIA, and how costs should be shared between participants.”

Food safety was another key issue in this year’s Agenda, highlighted by the fall-out from the mid-2013 Fonterra botulism case. Ian Proudfoot says the impact of the recall has been felt across the industry.

“Many industry leaders are uncomfortable that the regulatory environment appears to be moving back towards a ‘command and control’ approach in response to the botulism scare, rather than continuing the more collaborative approach developed in recent years.”

“A better approach is for the sector to stand up and defend the proven world-class quality of New Zealand’s food safety system, in partnership with the Government, while working on areas identified for improvement.”

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Must Sell 20 Petrol Stations: Z Cleared To Buy Caltex Assets

Z Energy is allowed to buy the Caltex and Challenge! petrol station chains but must sell 19 of its retail sites and one truck-stop, the Commerce Commission has ruled in a split decision that acknowledges possible retail price coordination between fuel retailers occurs in some regions. More>>

ALSO:

Huntly: Genesis Extends Life Of Coal-Fuelled Power Station To 2022

Genesis Energy will keep its two coal and gas-fired units at Huntly Power Station operating until 2022, having previously said they'd be closed by 2018, after wringing a high price from other electricity generators who wanted to keep them as back-up. More>>

ALSO:

Dammed If You Do: Ruataniwha Irrigation Scheme Hits Farmer Uptake Targets

Enough Hawke's Bay farmers have signed up for water from the proposed Ruataniwha Water Storage Scheme for it to go ahead as long as a cornerstone institutional capital investor can be found to back it, its regional council promoter announced. More>>

ALSO:

Reserve Bank: OCR Stays At 2.25%

Reserve Bank governor Graeme Wheeler kept the official cash rate at 2.25 percent, in a decision traders had said could go either way, while predicting inflation will pick up as the slump in oil prices washes out of the data and capacity pressures start to build in the economy. More>>

ALSO:

Export Values Down: NZ Posts Biggest Annual Trade Deficit In 7 Years

New Zealand has recorded its biggest annual trade deficit since April 2009, reflecting weaker prices of agricultural commodities such as dairy products, beef and lamb, and increased imports of vehicles and machinery. More>>

ALSO:

Currency Events: NZ's New $5 Note Wins International Banknote Award

New Zealand’s new Brighter Money $5 note has been named Banknote of the Year in a prestigious international competition. The $5 note was awarded the IBNS Banknote of the Year title at the International Bank Note Society’s annual meeting. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news