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

Gaza.Scoop: UNRWA School, Ambulances Attacked - Gaza MOH

The Ministry of Health Gaza expresses its horror and outrage at the latest Israeli massacre moments ago at an UNRWA school sheltering displaced persons in Beit Hanoun. Ten people have been killed and there is a large number of wounded. More>>

ALSO:

Gordon Campbell:
On Gaza And Burning The Israeli Flag

One of the selling points in New Zealand’s campaign for a temporary seat on the Security Council is that we have a pluckily independent voice to offer on international conflicts.

This image is not entirely self-delusional. When we did occupy a temporary UN Security Council seat in the 1990s, New Zealand was forthright about the need for the international community to actively respond to the Rwanda genocide. On April 14, 1994, New Zealand, Nigeria and the Czech Republic were the only nations to call for a forceful UN intervention to halt the killings. It was a proud moment in the diplomatic record of the Bolger government.

What then, is the current National government doing with respect to the slaughter in Gaza? More>>

 

Parliament Today:

Minister Told Of FBI Investigation, Says INZ: Coleman Must Quit Or Be Sacked Over Dotcom Case - Harré

Immigration New Zealand has done the right thing in distancing itself from Jonathan Coleman’s claims that ministers were not aware of FBI involvement in Kim Dotcom’s residency application, says the Internet Party. More>>

ALSO:

Valedictory Season: Maori Party Founders Say Goodbye

Two major Maori MPs gave there farewell speeches to Parliament Thursday outlining their history, experiences, triumphs and regrets. More>>

ALSO:

Resignation Not Accepted: Transport Minister Breaches Aviation Security Rules

"Running late for a plane at Christchurch Airport, I without thought breached airport and airline security rules by entering the gate lounge through a door usually used for exit only..." More>>

ALSO:

TAIC Report: Urgent Recommendations After Melling Rail Accident

The Transport Accident Investigation Commission has made four urgent recommendations to KiwiRail following the accident two months ago (27 May) when a Matangi passenger train collided with a stop block at Melling Station, Lower Hutt. More>>

ALSO:

Red Tape: Local Regulations Go Under Microscope

The Government says it is accepting nearly all of the recommendations the Productivity Commission has made on ways to improve local regulations. More>>

ALSO:

Spending Questions: Claudette Hauiti To Step Aside At Election

National Party President Peter Goodfellow confirms that he has received notification from List MP Claudette Hauiti that she plans to step aside at the 20 September election. More>>

ALSO:

EPA: Board Of Inquiry Rejects Basin Flyover By Majority Of 3 To 1

The independent Board of Inquiry delegated to decide on the Basin Bridge Proposal has, by a majority decision (3 to 1), cancelled the Transport Agency’s Notice of Requirement and declined its resource consent applications for the construction, operation and maintenance of a flyover on State Highway 1 in Wellington City... More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
Parliament
Search Scoop  
 
 
Powered by Vodafone
NZ independent news