Dividends from Growth Agenda must be ploughed back

Media statement Monday, November 18, 2013

Dividends from Growth Agenda must be ploughed back

The achievements listed in the Business Growth Agenda report released today are indeed impressive, says Kim Campbell, chief executive of the Employers and Manufacturers Association.

But the Government must resist the urge to splurge on the back of them with next year's election coming up, he says.

"The Government must keep re-investing the dividends from the Business Growth Agenda back into business growth and the economy," Mr Campbell said.

"Though good progress is plainly being made across a broad front of initiatives, there is still much to be done if our goal of creating 40 per cent of GDP from exports by 2020 is to be met.

"Especially pleasing is the energizing of the science community taking place with the advent of Callaghan Innovation, and the general progress on labour and RMA reforms, infrastructure and the Housing Accord.
"The benefits of the Growth Agenda thus far are recorded in our own Performance of Manufacturing Index (PMI) and Performance of Services Index (PSI) running at record high levels of 55.7 and 58.2 respectively.

"They show business is starting to get stuck in, and they demonstrate the strength of the foundation being laid for further economic growth.

"But business does not want to see the gains being made dissipated through loose election year management.

"Now is not the time to let up. The Government must keep up the pressure with its reform agenda."

ENDS

© Scoop Media