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

 

Leadership and Change

4 November 2008


Leadership and Change

The New Zealand Manufacturers and Exporters Association (NZMEA) have considered the range of policy positions that are critical to the tradeable sector as we approach election. The need for real change is all the more urgent and important as the credit crunch threatens jobs and growth. The solutions to our problems do not sit with the political ideology or the policies of any single party. Bits of policy are present in some and absent in others, but leadership and ideas for change are made all the more conspicuous by their absence.

Regardless of the outcome of the election, there needs to be a commitment from all parties to work together in implementing real change that brings more stability to our tradeable sector (as opposed to clinging to failed paradigms like inflation targeting and the winner picking bias of grant based funding).

It is time New Zealand appreciated that we need to design, make, and sell more to allow us to buy the things we need. Only a resurgent real economy can pull us all out of the hole created by unrestrained speculation in the financial sector.

What is critical to the real economy?

* The use of a broader range of policy tools to control inflation that support trade weighted interest and exchange rates. Consistently lower and more stable interest and exchange rates are necessary to encourage long-term investment in productive exporting businesses.

* A Research and Development (R&D) tax credit to encourage innovation and the development of new products across the real economy.

* A first year write-off for productive plant and patent expenditure to encourage investment in new product development and intellectual property protection.

* Balanced taxation on both capital and revenue accounts.

* Enforcing national product standards to ensure local producers and importers are on a level playing field.

* Mandatory country of origin labelling to give consumers choice and enhance the value of the 'New Zealand' brand.

NZMEA Chief Executive John Walley says, "We will continue to press the needs of the real economy on any government. Policy settings must change to encourage and support long-term investment by manufacturers and exporters."

"The health of our tradeable economy determines our overall economic future. The policy settings that have built trade deficits and encouraged excessive borrowing need to change if we are to anticipate faster sustainable growth in tradeables. There is a risk that the fundamental problems in our economy will never be tackled if they are blamed on things beyond our control such as currency speculation or the global credit crisis."

More...

Members of the New Zealand Manufacturers and Exporters Association make nearly $2.0 billion in sales and have an export value of around $1.0 billion. Our organisation can trace its existence back to the early history of New Zealand.

As a legacy of the hard work and careful financial management of the past, we have a significant asset base that enables our independence and extends our activity. Subscriptions fund only a very small part of our current operating costs.

Membership is open to all manufacturers and exporters and others at the discretion of our Council. Enquiries should be directed to mea@mea.org.nz

4 November 2008

Leadership and Change

The New Zealand Manufacturers and Exporters Association (NZMEA) have considered the range of policy positions that are critical to the tradeable sector as we approach election. The need for real change is all the more urgent and important as the credit crunch threatens jobs and growth. The solutions to our problems do not sit with the political ideology or the policies of any single party. Bits of policy are present in some and absent in others, but leadership and ideas for change are made all the more conspicuous by their absence.

Regardless of the outcome of the election, there needs to be a commitment from all parties to work together in implementing real change that brings more stability to our tradeable sector (as opposed to clinging to failed paradigms like inflation targeting and the winner picking bias of grant based funding).

It is time New Zealand appreciated that we need to design, make, and sell more to allow us to buy the things we need. Only a resurgent real economy can pull us all out of the hole created by unrestrained speculation in the financial sector.

What is critical to the real economy?

* The use of a broader range of policy tools to control inflation that support trade weighted interest and exchange rates. Consistently lower and more stable interest and exchange rates are necessary to encourage long-term investment in productive exporting businesses.

* A Research and Development (R&D) tax credit to encourage innovation and the development of new products across the real economy.

* A first year write-off for productive plant and patent expenditure to encourage investment in new product development and intellectual property protection.

* Balanced taxation on both capital and revenue accounts.

* Enforcing national product standards to ensure local producers and importers are on a level playing field.

* Mandatory country of origin labelling to give consumers choice and enhance the value of the 'New Zealand' brand.

NZMEA Chief Executive John Walley says, "We will continue to press the needs of the real economy on any government. Policy settings must change to encourage and support long-term investment by manufacturers and exporters."

"The health of our tradeable economy determines our overall economic future. The policy settings that have built trade deficits and encouraged excessive borrowing need to change if we are to anticipate faster sustainable growth in tradeables. There is a risk that the fundamental problems in our economy will never be tackled if they are blamed on things beyond our control such as currency speculation or the global credit crisis."

For further comment contact John Walley, 03 353 2545, 021 809 631.

Peter Hume, NZMEA Media Liaison.

Phone: 03 353 2544, 021 027 89595

peterhume@mea.org.nz

Members of the New Zealand Manufacturers and Exporters Association make nearly $2.0 billion in sales and have an export value of around $1.0 billion. Our organisation can trace its existence back to the early history of New Zealand.

As a legacy of the hard work and careful financial management of the past, we have a significant asset base that enables our independence and extends our activity. Subscriptions fund only a very small part of our current operating costs.

Membership is open to all manufacturers and exporters and others at the discretion of our Council. Enquiries should be directed to mea@mea.org.nz

ENDS


© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Auckland Transport: Successful Bridge Repair Opens Two Additional Lanes To Traffic

The opening of two additional lanes on the Auckland Harbour Bridge this morning will help relieve some motorway congestion for motorists heading home to the North Shore tonight. More>>

ALSO:

Statistics New Zealand: COVID-19 Sees Record 12.2 Percent Fall In New Zealand’s Economy

Gross domestic product (GDP) fell by 12.2 percent in the June 2020 quarter, the largest quarterly fall recorded since the current series began in 1987, as the COVID-19 restrictions in place through the quarter impacted economic activity, Stats NZ said ... More>>

ALSO:

Climate: Scientists Release ‘Blueprint’ To Save Critical Ecosystems And Stabilize The Earth’s Climate

A group of scientists and experts produced the first comprehensive global-scale analysis of terrestrial areas essential for biodiversity and climate resilience, totaling 50.4% of the Earth's land. The report was published in Science Advances ... More>>

ALSO:

MPI: Independent Review Launched Into Assurances For Safe Transport Of Livestock By Sea

The Ministry for Primary Industries (MPI) has launched an independent review of the assurances it receives for the safe transport of livestock by sea. MPI Director-General Ray Smith says Mike Heron QC has been appointed to lead the review, which is expected ... More>>

ALSO:


Computers: New Zealand PC Market Grows Nearly 40% Due To Work From Home Demand

COVID-19 had large impacts on demand for PCs as businesses prepared for lockdowns by purchasing notebooks to mobilise their workforce. In the second quarter of 2020, New Zealand's Traditional PC market experienced a 39.7% year-on-year (YoY) growth ... More>>

ALSO:


University Of Auckland: Whale-Watching By Satellite – Follow Their Travels Online

Scientists have successfully attached satellite tracking tags to six New Zealand southern right whales, or tohorā, and are inviting the public to follow the whales’ travels online. Part of a major research project involving the University of Auckland ... More>>

Commerce Commission: Kiwibank Admits System Failures And Agrees To Pay Customers $5.2 Million

Kiwibank has entered into a settlement agreement with the Commerce Commission after reporting that it failed to have in place robust home loan variation disclosure policies, procedures and systems. In a settlement dated 27 August 2020, Kiwibank admitted that ... More>>

Ministry of Health: Public Transport Distancing Requirements Relaxed

Physical distancing requirements on public transport have been reviewed by the Ministry of Health to determine whether they are still required at Alert Level 2 (or below). The Ministry’s assessment is that mandatory face covering and individuals tracking ... More>>

ALSO:

NZHIA: New Zealand Hemp Industry Set To Generate $2 Billion Per Annum And Create 20,000 Jobs

A new report says a fully enabled hemp industry could generate $2 billion in income for New Zealand by 2030, while also creating thousands of new jobs. Written by industry strategist Dr Nick Marsh, the report has prompted calls from the New Zealand Hemp ... More>>

ALSO:

Stats NZ: One In 14 Employed People Report High Risk Of Losing Jobs

About one in 14 workers say they expect to lose their job or business by mid-2021, Stats NZ said today. A survey of employed people in the June 2020 quarter showed 7 percent felt there was a high or almost certain chance of losing their job or business ... More>>

ASB Quarterly Economic Forecast: NZ Economy Doing Better Than Expected, But Challenges Remain

August lockdown estimated to have shaved 8% off NZ’s weekly GDP, and 0.5% off annual GDP Economy now expected to shrink 5% (year-on-year) by end of 2020 Unemployment rate now expected to peak at 7.2% The latest ASB Quarterly Economic Forecast is less ... More>>

ALSO: