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

 

Economic Outlook Bright if Managed Well

“The economic outlook for New Zealand is positive, provided we continue to implement policy which assists rather than hinders economic growth", according to New Zealand Employers’ Federation Chief Executive, Steve Marshall.

Mr. Marshall was responding to the Government’s Pre-election Economic and Fiscal Update released earlier today, which reported that economic growth is projected to average around 3% for the next 3 years.

“While the outlook for economic and employment growth is positive, there is no room for fiscal slippage. Although the opening of the books shows that the country reasonably successfully negotiated its way through the Asian crisis and droughts over the last two years, the onus is on future governments not to throw away the gains achieved through a sound set of macro and micro-economic policies advanced over the last decade.

“The outlook for the labour market is positive with forecast employment growth of over 1% for the year to March 2000, and over 2% for the following two years. As a result, unemployment is projected to continue trending down to 5.7% by 2001.

“While some may feel a degree of comfort from these forecasts, it is important to note that the reasonably positive forecasts are dependent on government maintaining a stable policy framework in which businesses can feel confident about the returns achieved from investing in New Zealand.

“Any return to the spend and tax policies of past decades, and proposals by some parties to raise costs on the business sector, will stop the recovery in its tracks. It is beholden on future governments to build on the reforms achieved over the last 15 years”, Mr Marshall concluded.

ends

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Media Mega Merger: StuffMe Hearing Argues Over Moveable Feast

New Zealand's two largest news publishers are appealing against the Commerce Commission's rejection of the proposal to merge their operations. More>>

Elsewhere:


Approval: Northern Corridor Decision Released

The approval gives the green light to construction of the last link of Auckland’s Western Ring Route, providing an alternative route from South Auckland to the North Shore. More>>

ALSO:


Crown Accounts: $4.1 Billion Surplus

The New Zealand Government has achieved its third fiscal surplus in a row with the Crown accounts for the year ended 30 June 2017 showing an OBEGAL surplus of $4.1 billion, $2.2 billion stronger than last year, Finance Minister Steven Joyce says. More>>

ALSO:

Mycoplasma Bovis: One New Property Tests Positive

The newly identified property... was already under a Restricted Place notice under the Biosecurity Act. More>>

Accounting Scandal: Suspension Of Fuji Xerox From All-Of-Government Contract

General Manager of New Zealand Government Procurement John Ivil says, “FXNZ has been formally suspended from the Print Technology and Associated Services (PTAS) contract and terminated from the Office Supplies contract.” More>>