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

 

Land Swap: Setback For Ruataniwha Scheme As Forest & Bird Wins Appeal

The Royal Forest & Bird Protection Society has won an appeal against a proposed land swap by the Department of Conservation which would have allowed 22 hectares of Ruahine Forest Park be flooded as part of the Ruataniwha Water Storage Scheme that will provide irrigation for farmers. More>>

ALSO:

Gordon Campbell: On The Judith Collins Charm Offensive

Suddenly, Judith Collins is everyone’s new best friend. It isn’t an election year, but the Corrections/Police Minister is treating 2016 as an opportunity for a political makeover… Feel that the Police don’t attend burglaries often enough, or assiduously enough? She’s the peoples’ champ on that one. More>>

PM's Press Conference: Crime And Diplomacy

The Prime Minister's press conference today was dominated by foreign affairs and an open letter from the PM to the Chinese community on crime. More>>

ACC: Govt Caught In Unethical Cluster Bomb Investments

The ACC Fund admitted that it had $1.4 million invested in cluster munitions and nuclear weapons manufacturer Lockheed Martin. Before responding to the Green Party’s request for information,however, ACC sold its Lockheed investment and updated its ethical investment policy. More>>

ALSO:

Local Governments To Decide: Easter Trading Bill Passes

The union representing working people in the retail industry is condemning the Government for whipping its MPs to pass the controversial Shop Trading Hours Amendment Bill. More>>c

ALSO:

Departure Speech: Governor-General’s State Farewell Luncheon

"...Unfortunately I was unable to get to the Antarctic, the Chatham Islands and the Kermadecs. A dicky heart thwarted our travel to the Antarctic; and even though I volunteered to parachute into the Kermadecs to join the Young Blake expedition, time, commitments and officials frustrated my plans to visit the Kermadecs and Chathams." More>>

ALSO:

New Research: Most Homeless People Working Or Studying

“The cost of housing has been rising without corresponding increases in income, whilst the number of state houses per capita has been in decline. Many low-income people are missing out on housing, whether we recognise them as ‘homeless’ or not. More>>

ALSO:

Post-Traynor: New Offender Info Sharing Plan

“This Bill delivers on that step-change by moving away from name-based records held by individual agencies to a shared, anchor identity based on unalterable information, such as fingerprints and facial recognition. It also gives agencies access to the drivers’ licence photo database and birth, death and marriages information." More>>

  • NZ Law Foundation - New $2M fund for research on information challenges
  • Littoral: New Ship To Deliver Enhanced Naval Capability

    Defence Minister Gerry Brownlee says the Government has approved a Ministry of Defence and New Zealand Defence Force recommendation to request tenders for a new naval ship to support littoral operations. More>>

    July:

    Get More From Scoop

     

    LATEST HEADLINES

     
     
     
     
     
     
     
     
     
    Parliament
    Search Scoop  
     
     
    Powered by Vodafone
    NZ independent news