Growth Plan Endorsed

BusinessNZ has endorsed the Going for Growth plan released by the Minister for Economic Growth, outlining actions to be taken or underway to lift economic and productivity growth.

BusinessNZ Chief Executive Katherine Rich said the proposed reform of taxation, savings and competition policy offered potential for invigorating the economy, and individual businesses stood to gain from the reforms.

"For example, efforts towards promoting global trade and investment will be a significant boost for NZ exporters, while domestic businesses will gain from the reform of procurement rules that will give more ability for firms to tender for government business."

Katherine Rich said the plan’s focus on innovation and AI was well-placed.

"Recent analysis by Accenture and Microsoft indicates the potential for annual GDP growth of up to $100 billion by 2038, based on greater uptake of AI by NZ businesses.

"We would expect the Going for Growth plan to stimulate a more productive business environment, allowing businesses to invest in digital and AI technologies, to drive even further productivity and economic growth," Mrs Rich said.

© Scoop Media