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

 

New Zealand needs to milk Brexit for all its worth

New Zealand needs to milk Brexit for all its worth - Feds

Source: Federated Farmers

--

With Britain voting to exit the European Union today, Federated Farmers is urging diplomats and export companies to be quick off the block and first inline for meetings to push New Zealand’s agenda.

Federated Farmers President Dr William Rolleston said: "Britain leaving the EU will create a considerable degree of political and financial uncertainty but we must consider what new opportunities might be won. This could be a great opportunity to work with lamb producers in the UK to get better outcomes for both countries.

"We have a shared history with the UK and want to ensure this outcome works in both countries’ interests. We need to emphasis our common thinking and remind Britain we are an important ally.

"The key thing for farmers is assessing how this change will affect trade to Britain as well as Europe and what this means for our free trade negotiations.

"The vote suggests a significant threat against the trends of globalisation and trade liberalisation. New Zealand as a small open economy will be a loser if protectionism prevails." Dr Rolleston said.

Currently New Zealand primary exports to Britain are at three percent and 11 percent to Europe. Farmers are in a very different position than we were when Britain entered the European Union 43 years ago; at that time 40 percent of our exports went to Britain. Before that in the 1950s over 80 percent of New Zealand exports went to Britain.

ENDS


© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Skodafone Goneski: Sky TV, Vodafone Drop $3.44 Billion Merger Plan

Sky Network Television and Vodafone New Zealand have terminated their merger agreement which aimed to create the country's largest telecommunications and media group, and have withdrawn an appeal against the Commerce Commission's rejection of the plan. More>>

Quake Insurance: Reforms To EQC Act Announced

· Increasing the monetary cap from $100,000 (plus GST) to $150,000 (plus GST) for EQC building cover.
· Clarifying EQC land cover is for natural disaster damage that directly affects the insured residence or access to it... More>>

ALSO:

Reserve Bank: Official Cash Rate Unchanged At 1.75 Percent

Global economic growth has increased and become more broad-based. However, major challenges remain with on-going surplus capacity and extensive political uncertainty... More>>

Kaikōura Earthquake: Private Insurers Receive $1.8b Claims

Insurance Council Chief Executive Tim Grafton said most is for commercial loss at $1.36 billion, with residential claims amounting to over $460 million. “...We have a high level of confidence that most people will have received settlement offers by the end of this year." More>>

ALSO:

Forms And Data: New Proposals To Simplify Personal Income Tax

The Government is proposing to make tax simpler for individuals, with people whose only income is from a salary, wages or investments no longer being required to file tax returns to receive tax refunds or to calculate any additional tax. More>>