Citation
(2009), "New Zealand is pulling its socks up", International Journal of Productivity and Performance Management, Vol. 58 No. 8. https://doi.org/10.1108/ijppm.2009.07958hab.001
Publisher
:Emerald Group Publishing Limited
Copyright © 2009, Emerald Group Publishing Limited
New Zealand is pulling its socks up
Article Type: News From: International Journal of Productivity and Performance Management, Volume 58, Issue 8
Speaking to a business audience in Wellington recently, New Zealand Prime Minister John Key said New Zealand must address its poor productivity growth, which he described as the fundamental problem facing the economy.
He outlined six policy areas the Government will focus on to pull New Zealand back up the economic league tables. They are regulatory reform, infrastructure investment, better public services, education and skills, innovation and a world-class tax system.
Mr Key says the tradable sector of the economy, which includes agriculture, tourism, forestry, and manufacturing, has effectively been in recession for five years.
“Our productivity is already low by comparison with other developed countries and in recent years has been growing much slower than most other countries”, he told the business audience.
The Government is also launching a Productivity Commission designed to run its ruler over key sectors of the NZ economy and advise on initiatives that might ultimately help bridge the income gap with Australia … aiming to close the income gap by 2025.