Economic reform needed to improve expectations

22 November 2011

New Zealand’s first year of negative migration since 2001 further demonstrates the need for economic reform say the New Zealand Manufacturers and Exporters Association (NZMEA). A net loss of 100 migrants occurred in the October 2011 year according to Statistics New Zealand.

NZMEA Chief Executive John Walley says, “The Christchurch earthquakes have seen some 6000 leave (about a 2800 net loss compared to a gain of 600 in the same period last year); that should be seen as positive, it could have been much worse. It is worth noting that people are not moving to Wellington or Auckland, but moving offshore; that fact suggests there are worse things than earthquakes – possibly low expectations. We are simply not creating enough opportunities in New Zealand.”

“The table above demonstrates where the jobs are in the tradable sector, but a volatile exchange rate, tax imbalances and a lack of incentives for innovation are restricting investment. This in turn limits well paid jobs and economic growth.”

“These factors are the key issues for voters at the election, as this will determine whether we can keep skilled New Zealanders in the country.”

“More perspectives on how to encourage investment in the tradable sector are available at www.changenz.co.nz.”

ENDS

© Scoop Media