Plan for a productive, sustainable and inclusive economy

Published: Mon 23 Sep 2019 08:40 AM
The Coalition Government’s Economic Plan is transitioning the economy to be more productive, sustainable and inclusive to tackle New Zealand’s long-term challenges.
“New Zealanders value a strong economy that provides decent jobs, higher incomes and more opportunities for current and future generations,” says Grant Robertson.
“Our economic fundamentals are strong, with low unemployment, rising wages, a Government surplus and low debt. But we are currently facing a number of headwinds, including global volatility and low productivity.
“The economy also faces longer-term challenges, like the impacts of climate change, an ageing and changing workforce, and technological changes. Fixing and facing up to these issues now will turn them into economic opportunities,” says Phil Twyford.
“This Economic Plan provides a one-stop-shop for business and government agencies to view the Government’s long-term plan and see how different policies contribute to it. It identifies eight economic shifts for a more productive, sustainable and inclusive economy:
• Moving the New Zealand economy from volume to value with Kiwi businesses, including SMEs, becoming more productive.
• Ensuring people are skilled, adaptable and have access to lifelong learning.
• Making deeper pools of capital available to invest in infrastructure and grow New Zealand’s productive assets.
• Strengthening and revitalising regional economies.
• Enabling a step-change for the Māori and Pacific New Zealand economies.
• Developing a sustainable and affordable energy system.
• Utilising our land and resources to deliver greater value and improve environmental outcomes.
• Transforming our housing market to improve productivity growth and make houses more affordable.
The economic shifts will enable New Zealand to achieve the four economic priorities in Our Plan announced by the Prime Minister last year.
“These economic shifts represent a broader approach to economic policy than used by the previous Government,” Grant Robertson says.
“We understand that improving the health and wellbeing of our people, protecting and enhancing our environment, and strengthening our communities will allow us to achieve our potential.”
“For example, a well-functioning housing market is important for businesses that want their employees to live near their workplaces. A city’s housing market should not be a disincentive for workers to take on a new job. Our Economic Plan also recognises that New Zealand needs to shift investment out of unproductive assets such as housing,” says Phil Twyford.
“The two business tax changes we are announcing today are practical examples of how delivering our Economic Plan will help businesses move from volume to value,” says Grant Robertson.
“These measures will also help to deepen the pool of capital invested in New Zealand’s productive assets, by incentivising innovation. This is all part of a 30-year plan to make the economy more productive, sustainable and inclusive.”

Next in New Zealand politics

Freshwater package backed by comprehensive economic analysis
By: New Zealand Government
Todd Muller announces shape of next Government
By: New Zealand National Party
Timeline For Moving To Level 1 Needed
By: Business New Zealand
On National’s Day Of Reckoning
By: Gordon Campbell
Jobs budget to get economy moving again
By: New Zealand Government
Law Setting Up Legal Framework For Covid-19 Alert Level 2 Passes
By: New Zealand Government
PMs Jacinda Ardern & Scott Morrison Announce Plans For Trans-Tasman COVID-safe Travel Zone
By: New Zealand Government
Support For Arts And Music Sector Recovery
By: New Zealand Government
New Zealand Joins Global Search For COVID-19 Vaccine
By: New Zealand Government
Green Party Unveils Its Candidate List For The 2020 Election
By: Green Party
NZ COVID Tracer App Released To Support Contact Tracing
By: Ministry of Health
Deep Concern At Hong Kong National Security Legislation
By: New Zealand Government
Strongest Ever Water Reforms Mean Swimmable Rivers Within A Generation
By: Green Party
Importance Of Horticulture Recognised In Government’s Freshwater Decisions
By: Horticulture NZ
Nitrogen Fertiliser Poisoning Of Rivers To Face Cap, Says Greenpeace
By: Greenpeace
View as: DESKTOP | MOBILEWe're in BETA! Send Feedback © Scoop Media