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

 

Retail: International Websites To Pay GST

New rules would be aimed at imported goods valued at or below $1,000. Customs would retain responsibility for collecting GST on imported parcels valued more than $1,000. More>>

ALSO:

High-Level Advice: PM’s Business Advisory Council Membership Announced

The Prime Minister’s Business Advisory Council brings together a mix of experts, six women and seven men with small to large business experience, from across New Zealand, to provide advice. More>>

ALSO:

Improving: Report Shows New Zealand Air Quality 'Good'

Our air 2018, produced by the Ministry for the Environment and Stats NZ, shows that while some previously known issues persist, progress has been made and levels of some pollutants are declining. More>>

ALSO:

Greenpeace: Govt Extends OMV Exploration Permit

The Government has just granted oil giant OMV a two-year extension to drill in the Great South Basin, despite issuing a ban on new oil and gas exploration permits in April. More>>

ALSO:

Collective Bargaining For Contractors: Working Group's Model For Screen Sector

A recommended model to allow collective bargaining for contractors in the screen sector has today been unveiled by the Government-convened Film Industry Working Group. More>>

ALSO:

Kauri Dieback: DOC Closing Tracks To Protect Trees

The Department of Conservation will close 21 tracks across kauri land to help prevent the spread of kauri dieback. An additional 10 tracks will also be partially closed and the open sections upgraded... More>>