BEEHIVE BULLETIN FOR WEEK ENDING
FRIDAY 25 OCTOBER 2002
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Also Available On-Line
www.labour.org.nz
Unemployment down in every region
New regional statistics from the Ministry of Social Development show that unemployment numbers have dropped in every
region in New Zealand. The Minister of Social Services and Employment, Steve Maharey said unemployment is at its lowest
in 14 years, at 5.1 per cent. Decreases in unemployment of up to 75 percent have been recorded in regions since 1999. Mr
Maharey also launched the 2002/2003 regional plans for each of the Ministry's 13 regions. Regionalisation of the
Department of Work in Income was introduced by the government in 2000 to marry the employment expertise of the
Department of Work and Income with the different skill needs of each region. In the coming year Work and Income Regional
Commissioners intend giving particular focus to supporting particular groups in their regions such as youth or long term
unemployed to get into paid employment. Mr Maharey said getting more people into real paying jobs is the Ministry's
biggest challenge.The regional plans gave confidence that it is fully focused on this issue which is a key priority for
the government, Mr Maharey said.
Defence Minister pays tribute to SAS
Defence Minister Mark Burton said three members of the NZ SAS injured in Afghanistan when their patrolling vehicle ran
over a landmine were doing an important job under demanding environmental and operational conditions. He extended the
Government's sympathies to the soldiers and their families. Mr Burton reinforced Chief of Defence Staff Air Marshal
Ferguson's message that there are always risks associated with any operational deployment. Mr Burton said the NZ SAS has
an enviable reputation and its efforts on this important deployment had enhanced New Zealand's standing with the nations
that are cooperating in combating international terrorism.
New Zealand regains top Moody's credit rating
Finance Minister Michael Cullen has welcomed the announcement by Moody's Investors Service that New Zealand has been
restored to the highest possible credit rating for foreign currency debt - Aaa. the decision raises New Zealand two
notches from Aa2 to Aaa, and returns us to the rating we held in 1983. Dr Cullen said this places New Zealand with top
world economies like the European Union and the United States and is a clear sign of international confidence in the
current government's fiscal and economic management. The upgrade is not linked to any one particular event. Rather, it
reflects Moody's belief that, in the event of an external payments crisis, New Zealand is unlikely to impose a
moratorium on debt repayment to ration scarce foreign currency assets - thereby forcing companies to default on their
foreign debt payments. Moody's also cited New Zealand's flexible foreign exchange regime as a factor in their decision.
Framework for Biotechnology Strategy released A discussion paper released by Research, Science and Technology Minister
Pete Hodgson sets out the framework for a New Zealand Biotechnology Strategy. He said the Government is committed under
its Growth and Innovation Framework to supporting biotechnology as a key growth sector. Mr Hodgson said New Zealand has
a strong track record in adding value to natural products through biological innovation and world-class biological
knowledge and skills to build on. A stronger biotechnology sector has the potential to accelerate growth in other
sectors, including forestry, agriculture, food production and pharmaceuticals. The discussion paper offers a vision,
goals and guiding principles for the development and use of biotechnology in New Zealand, said Mr Hodgson. Development
of the Biotechnology Strategy is being led by the Ministry of Research, Science and Technology. The ministry will
collect and analyse submissions in response to the discussion paper and the Government aims to have a final strategy in
place by early 2003. Mr Hodgson encouraged everyone to have their say.
Government to simplify small business costs
Government is poised to decide on how to simplify financial reporting obligations for small businesses, said Commerce
Minister Lianne Dalziel. Reporting obligations for small companies are the subject of a discussion document, produced by
the Ministry of Economic Development, and released for public consultation, as part of a review of the Exempt Companies
Regime (of the Financial Reporting Act). The work follows recommendations by the Commerce Select Committee and
Ministerial Panel on Business Compliance Costs. Lianne Dalziel said it is recognised that the Financial Reporting Act
was written with large companies in mind. The Government now needs to look at the Exempt Companies Regime, which aims to
provide a low cost system for most small companies by limiting reporting requirements to core information. She said the
government is committed to reducing compliance costs. Submissions close on 6 December 2002. The government plans to
introduce a Financial Reporting Bill to implement any changes to the Exempt Companies Regime in 2003.
New Zealand could become sustainability world leader
New ideas can make New Zealand a world leader in sustainable business practices such as triple bottom line reporting,
said Economic Development Minister Jim Anderton. He said a report on business management to be released by the Ministry
of Economic Development next month indicates that New Zealand businesses already see they have an important social
responsibility to their community. Eighty-two per cent of businesses surveyed, engage in community sponsorship or
donations and most saw a 'social good' element as part of the objectives of their sponsorship. However Mr Anderton said
for New Zealand to become a world leader for sustainable business practice, businesses will need to see environmental
management as an opportunity to lower their costs or improve their value ? not as an annoying expense. He said with the
regional growth underway, this is an ideal time to change the way we do business so that we produce less waste and
generate new ideas to make production more efficient.
ENDS