Gordon Campbell | Parliament TV | Parliament Today | Video | Questions Of the Day | Search

 


Stagnating productivity another sign of economic failure

18 March 2013

Stagnating productivity another sign of economic failure


The Government’s programme to build a more productive and competitive economy is failing, the Green Party said today.

Statistics New Zealand today released industry and labour productivity statistics which show that labour productivity increased one percent in 2012 but, when the effects of a good agricultural growing season are removed, labour productivity actually fell.

“Labour productivity, when you exclude agriculture, is going backwards under National,” said Green Party Co-leader Dr Russel Norman.

“The high New Zealand dollar is hollowing out our manufacturing and export sectors and businesses are struggling to invest in the technology and skills which will lift productivity.

“National’s strategy to rely on intensified agriculture is producing a simpler economy which does fine when it rains but is vulnerable to external shocks like climate-induced drought.

“We need a diverse economy which has more to offer than milk powder and a housing boom.

“As Westpac noted in its commentary this morning, we are heading into another cycle of rising house prices which will induce another round of consumer borrowing and spending, with the booming construction sector provoking inflationary pressures.

“We need to start working smarter to increase our prosperity, but the current Government’s economic settings are not moving the New Zealand economy towards a productive, sustainable, diverse, high wage future.”

Statistics New Zealand found that the average labour productivity over 2008–12 was 0.6 percent. This was the lowest average cycle growth in labour productivity since the series began.

“A smart green economy is one that deals with our external imbalances while simultaneously moving our economy to a more environmentally sustainable footing,” Dr Norman said.

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

InternetNZ On Snowden Docs: Mass Collection Of Pacific Data Affects Kiwi Holidaymakers

The allegation that New Zealand has conducted mass data harvesting on its Pacific Island neighbours raises concerns about New Zealanders’ communications being collected, says InternetNZ.

“If the allegations are correct, then New Zealand would be mining data about everyone in the Pacific Islands named in the allegations. That’s everyone. Not just individuals who attract specific surveillance warrants, but everyone. This means local residents to visiting Kiwi tourists could be having their data collected." More>>

 

PARLIAMENT TODAY:

Teina Pora Wins Appeal: Gordon Campbell On The Privy Council Decision

The quashing of the convictions of Teina Pora for the rape and murder of Susan Burdett in 1992 has shone a spotlight once again on a major gap in the New Zealand justice system... More>>

ALSO:

Urgent Bill Planned: MP Pay Rises To Match Public Service

Prime Minister John Key today announced an overhaul of the Remuneration Authority Act, tying MP salaries to those of the wider public sector, which will be passed under urgency. More>>

ALSO:

PM's Press Conference: MP Pay Rises, Solid Energy, Iraq

Prime Minister John Key answered questions in his Post-Cabinet press conference about the Iraq deployment, Solid Energy and National’s decision to overhaul the Remuneration Authority Act. More>>

ALSO:

Worksafe: MSD Charged Over Work And Income Ashburton Shooting

WorkSafe NZ has laid one charge against the Ministry of Social Development (MSD) in relation to the shooting at the MSD Ashburton office on 1 September 2014 in which two Work and Income staff were killed and another was injured. More>>

ALSO:

Iraq: Ex-Hostage Says Government Not Putting NZers, Iraqis First

Harmeet Singh Sooden is travelling to Iraq in the coming weeks to work with Christian Peacemaker Teams (CPT) on a short-term assignment. More>>

ALSO:

Joint Statement: Australia-New Zealand Leaders’ Meeting

Prime Minister Key warmly welcomed Prime Minister Abbott and Mrs Abbott to New Zealand. The visit has enabled wide-ranging and substantive discussion that has underlined the strength, value, diversity and warmth of our trans-Tasman relationship. More>>

ALSO:

Press Conference: Peters To Stand In Northland By-Election

New Zealand First Leader Winston Peters has announced his intention to stand in the Northland by-election, citing his own links to the electorate and ongoing neglect of the region by central government. More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
Parliament
Search Scoop  
 
 
Powered by Vodafone
NZ independent news