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

 


Business Growth Agenda could be addressing bigger problems


Business Growth Agenda scoring runs, could be addressing more complex problems


Today’s Business Growth Agenda update shows progress being made towards a stronger economy, says BusinessNZ.

Focusing on what helps business grow jobs and well-being for the community is valuable, says BusinessNZ Chief Executive Phil O’Reilly.

“The Government is aiming for the big goal of doubling exports by 2025 and has made many moves in support of it – more free trade agreements, less red tape for exporters, financial market regulation for stronger capital markets, investment in infrastructure, support for innovation and higher value products, and others.”

But Mr O’Reilly said there were some holes in the Business Growth Agenda that needed addressing.

“Second rate regulation continues to load compliance costs on business. The Government should be advancing legislation that sets standards for lawmakers to help get fewer, better quality laws.

“Infrastructure is subject to increasingly complex procurement processes and unclear regulations, prompting investors to price in a risk premium, making our infrastructure more expensive and business less competitive.

“More progress is needed towards agreed rules on water. We are yet to see any concrete proposals for allocating water rights, a key need for many business operations.

“And the area of skills and productivity poses many challenges despite the many useful education initiatives in the Business Growth Agenda. We still have a severe shortage of skills needed by business – ICT, engineering, trades and others – and appreciate that it takes time to turn around the policies to get them, however there is a need for integrated policies to ‘grow the talent pipeline’ not just at the tertiary end but through the whole school system. And while taxpayers are spending billions on tertiary education, this has yet to translate into much improvement in our overall productivity.

“Business would like to see some of these more complex problem areas addressed.”

ends

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Interest Rates: RBNZ Hikes OCR To 3.5%, ‘Period Of Assessment’ Now Needed

Reserve Bank governor Graeme Wheeler raised the official cash rate as expected, while signalling a pause in rate hikes to assess the impact of moves so far this year. The kiwi dollar sank after Wheeler said its strength was “unjustified” and that the currency could have “a significant fall.” More>>

ALSO:

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:

Get More From Scoop

 
 
Computer Power Plus

Standards New Zealand

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