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Advocacy for business by the BusinessNZ Network | |
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BusinessNZ's advocacy is contributing to important changes that are currently happening in the business environment - better consenting rules, proposed changes to competition law, a fix for poor regulation, new structures for work-based training, and a review of what went wrong for business during Covid. Our latest advocacy is highlighted below, along with some encouraging results from the latest BNZ-BusinessNZ surveys of manufacturing and services that may be indicating the beginnings of business and economic growth. Tēnā koutou katoa! Katherine Rich, Chief Executive | | | |
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BusinessNZ surveys suggest possible green shoots of economic growth in NZ. The BNZ-BusinessNZ Performance of Manufacturing Index and BNZ-BusinessNZ Performance of Services Index, which give a monthly reading on the state of the manufacturing and services sectors, have both indicated expansion in their most recent results. Previously the PMI and PSI surveys recorded sectoral declines over the last 10 months (services) and 22 months (manufacturing). The latest month's results, while not conclusive, give some cause for optimism, BusinessNZ CEO Katherine Rich says. | | | |
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BusinessNZ supports the latest RMA amendment Bill which aims to reduce the regulatory burden on resource-seekers and resource-holders. BusinessNZ’s submission on the Bill recommends extending resource consents beyond 35 years for long-life assets (for greater investment certainty); allowing more flexibility to trade consents between consenting parties (to allow resources to flow to their highest value use); and recommends that the Bill contain clauses recognising property rights and providing for compensation when those rights are infringed. | | | |
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BusinessNZ’s submission on a targeted review of the Commerce Act says NZ’s mergers and acquisitions regime shouldn’t be changed just to follow Australia’s proposed M&A changes, as Australia’s regulations are already more restrictive than needed for NZ’s circumstances. The submission also warns that over-regulation could potentially result from competition studies (‘market studies’) conducted by the Commerce Commission and recommends the Ministry for Regulation should also oversee market studies in future. | | | |
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Proposed legislation to improve the quality and reduce the quantity of poor regulation should be widely supported, BusinessNZ says. Current problems include creating regulations without considering adequately if there is a problem, and lack of analysis of whether benefits from regulation exceed its costs. BusinessNZ says all regulatory agencies should be required to regularly review, improve, and report publicly on the regulations they administer. | | | |
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Work-based learning for productivity |
BusinessNZ’s submission on Options for the future of work-based learning says work-based training should continue to be managed by training providers, to avoid incoming Industry Skills Boards potentially becoming a monopoly (given new ISBs will also set technical standards and quality-assure training programmes developed by providers). BusinessNZ says apprenticeships and other work-based training, largely funded by employers, contribute most to NZ’s productivity, and govt funding towards it should not be cut. | | | |
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Covid rules bashed business |
Business restrictions during Covid were unnecessarily severe, BusinessNZ says. Small businesses and sole traders were most disadvantaged by Covid rules, and the Govt’s monetary and fiscal decisions during Covid caused inflation, damaging the economy. In any future pandemic businesses should be allowed to operate if they can do so safely; business-focused agencies MBIE and MPI should be included in decision-making alongside the Ministry of Health; and Govt financial decisions should be more constrained - these are some of the recommendations made by BusinessNZ and EMA to the Covid Inquiry Phase 2.
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AdvocacyUpdate is an update on recent activity and advocacy by the BusinessNZ Network | |
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