Nice to see that the NZX has finally has a blog and is using WordPress so that is good too. They launched today with Economy on the edge: Swan dive or belly flop?
I must say that I like the list of positive actions from NZX chief Mark Weldon titles below go there to read the full version at NZX and David Skilling of the New Zealand Institute.
We need insightful leadership and the risk in NZ is that the general election fudges the short term for vote catching when we should be taking a longer term view.
“Political parties were not adequately discussing it and were instead playing “tick tack” over small amounts of money to taxpayers that will only fund consumption.” Source:NZX
Weldon was at McKinsey and is a qualified economist in the hot seat so his (and Davids”) suggestions make the RB and other look a bit sleepy.
- Defer all provisional tax payments for next 24 months.
- 100 per cent depreciation of capital investment.
- Bring talented Kiwis home.
- Attract new firms to New Zealand.
- Retain the R&;D tax credit, to ensure that R&D investment is made in New Zealand.
- Converting KiwiSaver, currently a voluntary scheme, into a compulsory retirement savings plan.
From Economy on the edge: Swan dive or belly flop? A draft strategy for coming out of the crisis stronger –Download Full Document and have a read. Only 18 pages
Good for Mecca and other intertested parties to go write a few comments over there.
Rod Drury already has.
“Finally some leadership and ideas.
Having just returned from the US and the UK it is so frustrating that this election is about rearranging the deck chairs and not about a coherent plan for really moving New Zealand. The rest of the world is investing and using technology to get ahead and we are quickly becoming Fiji with Snow as David likes to say. We’re blowing our competitive advantage of being small enough to just get stuff done.
I agree with the R&D policy concerns. It was becoming more about rearranging expenses than stimulating new R&D. The IRD was slowly killing it anyway.
Some of these ideas feel a bit radical to happen quickly but fantastic that ideas are at last being thrown around and discussed.
Maybe this crisis is the catalyst to wake some people up. We all want better schools and hospitals but to get those things some of us have to focus on growing the pie and not just how we slice it up. Time for John to step up. I’m nervous we may head for another 3 years of inward focus at a key time where technology changes everything.
Over to you guys. I’ve had my own crack in New Business Paradigm Needed