Chamber of Commerce Welcomes Productivity Commission

The Wellington Regional Chamber of Commerce has welcomed the government’s announcement of the establishment of a Productivity Commission.

“This is fantastic news. A significant improvement in productivity growth is essential to secure better economic growth for New Zealand and a Productivity Commission will make a welcome contribution to that,” said Chamber CEO Charles Finny.

“We have been arguing for this since 2005 and we are pleased the government is acting on our call.

“Figures released earlier in the week show that New Zealand’s productivity levels have been in decline. This needs to be turned around if New Zealand has any chance of catching up to Australia by 2025.

“One of the reasons for Australia’s superior economic performance has been the existence of an independent Productivity Commission and we are happy that the new New Zealand entity is to be based on that.

“The Chamber has been a member for several years of the Tasman Transparency Group which is advocating for all WTO members to establish an institution independent of government which is able to comment on the quality and cost of government policy and regulation.

“We hope that New Zealand’s establishment of such a body and the emulation of the Australian model will send a powerful message to other WTO countries.

“We are pleased that funding for the Commission will be sourced from existing government expenditure,” Mr Finny concluded.

ENDS

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