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NZ slips badly in world competitiveness ranking

John Key MP
National Party Finance Spokesman
11 May 2006

NZ slips badly in world competitiveness ranking

A world competitiveness measure out today has New Zealand falling badly behind other nations and it should be a warning to the Labour Government that all is not well, says National Finance spokesman John Key.

The World Competitiveness Scoreboard for 2006 has New Zealand falling from 16th to 22nd. Meanwhile Australia has risen from 9th to 6th place.

The scoreboard ranks the competitiveness of 61 national and regional economies based on 312 criteria.

The section on New Zealand lists the challenges facing the country as improving broadband, encouraging skilled migrants, ensuring secure and affordable energy and water, improving workplace productivity, management and business capability, and reducing compliance costs.

“National would agree that all these are serious challenges facing the country,” says Mr Key.

“What’s disturbing about this is that we are slipping behind relative to dozens of other countries while our biggest competitor for skills and capital – Australia – charges further ahead.

“This is yet more proof of why the Labour Government is turning out to be slow-burning disaster for this country’s economy – and therefore our future.

“The latest tax cuts in Australia will further boost their competitiveness, and become an even bigger magnet for talented Kiwis to cross the ditch.

“Meanwhile, Labour sucks up yet more taxpayer money here, leaving our businesses gasping and our workers despondent and looking offshore for greener pastures.

“This is big warning sign and shows we will never get into the top half of the OECD list of nations, and that we will – and are – slipping behind even nations outside the rich club.”

ENDS

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