Gaps to be filled in Natural Resources report

Media statement Tuesday, December 11, 2012

Gaps to be filled in Natural Resources report

The latest government Business Growth Agenda report - Building Natural Resources - is an elegant summary of the work underway, and is well and good as far as it goes, the Employers & Manufacturers Association says.

But for it to be meaningful business needs to see the detail of how and when policy changes will be enacted, said Kim Campbell, EMA's chief executive.

"We totally support the report's objectives," he said, "but business is impatient to see the timetable and other policy details needed to complete it.

"While it provides the direction and route we need to travel to fulfil our economic and social goals, we urgently need the policy vehicles that we can drive there, and we need them built, fuelled up and ready to go right away.

"To do this we need to see:

* Quantified goals

* A defined timetable, and

* Enabling policies

"For example, the report acknowledges the importance of water but does not specify how or when the resource will be priced in a way that aligns its use with economic activity and the environment.

"Our energy reserves, both fossil and renewable, should be sources of competitive advantage but the report is silent on how we could better leverage this opportunity.

"To be meaningful business needs to know how we can use them to attract economic activity here. That's what's happening in the US where they are using their energy boom to repatriate jobs.

"The royalties from oil, gas and minerals are national assets belonging to all New Zealanders and should be identified as an opportunity to securing our future, and sequestered accordingly into a future fund. The Norwegians have done this most successfully.

"A discussion on how we can keep more value added in New Zealand as resources are extracted should be included.

"On the RMA we welcome the changes currently coming forward and we look forward to the wider debate on further moves in the area next year.

"Otherwise we ask: What will change as a result of the publishing of this report?"

ENDS

© Scoop Media