Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

Skills package sustains economic growth

Skills package sustains economic growth

“The skills package announced today sustains economic growth”, said Pieter Burghout, Chair of the Industry Training Federation.

“The money is good news; the show of commitment is great news.”

“Labour and skills shortages are at very high levels. 80% of the workforce in ten years is in the workforce now, so not only do we need to support young people entering industry through Modern Apprenticeships, we need to up-skill our current workers through industry training generally. This between budgets package shows further commitment to a skilled future.

The National Bank Small Business Monitor shows a lack of skilled employees is now the biggest problem facing Small and Medium Enterprises – more important than bureaucracy, competition or low turnover.

According to July’s Quarterly Survey of Business Opinion, 20% of all firms reported labour as the single factor most limiting their ability to increase production or activity. This is at 30 year highs, and compares with only 8% in 2001 and 2% in 1999.

“Industry and Government are working together to build our future. We will begin working on a new Industry Training Strategy on October 14 when Industry Training Organisations (ITOs) meet with Minister Maharey and officials to start discussing our skilled future.

“Bringing on an extra 1,000 Modern Apprentices, and funding 5,000 industry trainees as we move towards our target of 250,000 trainees by 2007 is a significant commitment ”, said Pieter Burghout.

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 


Digitl: The home printer market is broken
Printers are more of a security blanket that a serious aid to productivity. Yet for many people they are not optional.
Even if you don’t feel the urge to squirt ink onto dead trees in order to express yourself, others will insist on printed documents... More>>


Serious Fraud Office: Commences Enquiries Into Allegations Of COVID-19 Wage Subsidy Fraud
The Serious Fraud Office has commenced a number of enquiries into alleged abuse of the Government’s COVID-19 Wage Subsidy. Director Julie Read said the allegations relate to multiple complex cases of potential fraud that have been referred to the agency following extensive investigations ... More>>



Environment: Preliminary Environmental Data On New Zealand’s Air Quality Released Today

The Ministry for the Environment and Stats NZ have published the Our air 2021: preliminary data release today. We are currently working to revise the Our air 2021 report to incorporate analysis of the World Health Organization (WHO) 2021 air quality guidelines that were released on 23 September 2021... More>>

ComCom: Companies In Hot Water For Selling Unsafe Hot Water Bottles And Toys

A wholesaler and a retailer have been fined a total of $140,000 under the Fair Trading Act for selling hot water bottles and toys that did not comply with mandatory safety requirements. Paramount Merchandise Company Limited (Paramount) was fined $104,000 after pleading guilty in the Manukau District Court... More>>



Reserve Bank: Robust Balance Sheets Yield Faster Economic Recovery

Stronger balance sheets for households, businesses, financial institutions and the government going into the pandemic contributed towards maintaining a sound financial system and yielding a faster economic recovery than following previous deep recessions... More>>


Transpower: Releases Independent Report Into Events Of August 9
Transpower’s Chief Executive Alison Andrew has today released an independent report into the grid emergency of August 9 when insufficient generation was available to meet demand, leading to some customers being disconnected... More>>