INDEPENDENT NEWS

Worrying Fall In Competitiveness Rating

Published: Wed 19 Apr 2000 03:48 PM
Worrying Fall In Competitiveness Rating
MEDIACOM-RELEASE-NZ-BUSINESS-ROUNDTABLE
WORRYING FALL IN COMPETITIVENESS RATING
"The further fall in New Zealand's rating for international competitiveness underscores the deterioration of the quality of economic policy in recent years", the executive director of the New Zealand Business Roundtable, Roger Kerr, said today.
Switzerland's International Institute for Management Development rated New Zealand 21st out of 47 countries in its latest survey. This compares with a rating of 9th in 1995, 11th in 1996, 13th in 1997 and 1998 and 20th in 1999.
The ratings for the brain drain (41st) and export growth (46th) were particularly weak.
Mr Kerr said that countries such as the United States *-(in first position), Ireland (7th) and Australia (13th) had far outstripped New Zealand in reforming and strengthening their economies.
He added that it was likely that the survey results had not taken account of recent decisions by the Coalition government including the planned $5.9 billion spending package, the increase in the marginal tax rate, the renationalisation of ACC, the planned re- regulation of the labour market and the freeze on tariffs. All these would raise domestic costs and make it harder for New Zealand industries to compete internationally.
"Next year's survey could well see New Zealand losing further ground", Mr Kerr said. "Because of the positive relationship between international competitiveness and growth, particularly for a small, open economy, this does not augur well for New Zealand's chances of maintaining the economic recovery and achieving sustained economic and employment growth."
ENDS
MEDIA RELEASE FROM NEW ZEALAND BUSINESS ROUNDTABLE

Next in Business, Science, and Tech

Media reports regarding possible transaction to acquire Stuff
By: NZME
Plan of action to protect seabirds
By: New Zealand Government
Fairer rules for tenants and landlords
By: New Zealand Government
Official Cash Rate unchanged at 1 percent
By: Reserve Bank
Avocados at lowest price in almost three years
By: Statistics New Zealand
Endangered seabirds need strong fishing rules
By: Forest And Bird
Call for zero bycatch, 2016 a bad year for seabirds
By: Forest and Bird
REINZ welcomes banning of rental bidding with RTA proposals
By: REINZ
Landlords will not be able to protect neighbours
By: NZ Property Investors Federation
Proposed changes to tenancy rights are trickle down
By: Manawatu Tenants' Union
Reserve Bank predicts further economic slowdown
By: New Zealand National Party
Reserve Bank gets it right by keeping OCR steady
By: ACT New Zealand
XE Data Update - RBNZ Official Cash Rate decision
By: XE Money Transfer
View as: DESKTOP | MOBILEWe're in BETA! Send Feedback © Scoop Media