New Zealand Gazette – 1999 – No. 198

Page 4678

✨ Government Address on Economic Policy

in the value of the New Zealand dollar which places extreme pressures on the remainder of the tradeables sector.

At the same time, New Zealand’s skills production in those areas relevant to the new knowledge-based industries has been inadequate. A competitive model in tertiary education has led to unsatisfactory outcomes in terms of both the quality and the appropriateness of the skills produced.

New Zealand has one of the highest levels of national debt in the developed world. We have one of the lowest levels of private sector research and development. Our living standards continue to fall behind those of most other developed countries, including Australia.

My government is determined to address these structural failings in order to improve real incomes and provide the means to restore our social services to being amongst the best in the world.

It is crucial that government policies ensure that New Zealand transforms the base of its economy much faster than has been the case in recent years. The future must be one of a high skills, high employment, high value added economy. We need to be innovative and adaptive to changing international demands.

My government recognises that simply relying upon market forces will not deliver these changes. A new partnership needs to be built with business and local communities.

My government will support and work in partnership with local government to develop job opportunities using available resources in a sustainable manner.

New partnerships with local government, businesses, communities, and the voluntary sector will be developed to revitalise regional economies. My government will have programmes to assist new businesses establish and develop their full potential, to help existing businesses to expand, and to enable local communities to develop effective economic development strategies.

Overall responsibility for the delivery of the new business development programme will lie with a new organisation, Industry New Zealand. The Minister for Economic Development will be moving quickly to set up Industry New Zealand.

Industry New Zealand will have the role of providing policy advice on strategic economic development issues as well as programmes in enterprise financing, local economic development, innovation, workplace productivity, ecological sustainability, and procurement policy.

My government will also provide new assistance for exporters. Addressing New Zealand’s serious current account deficit requires us to improve our export performance on a long-term sustainable basis.

At the same time, my government will take a firm line in international fora in support of New Zealand’s trading interests. New Zealand cannot accept that improved access for agricultural products will not be part of any new

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VUW Te Waharoa — NZ Gazette 1999, No 198

NZLII — NZ Gazette 1999, No 198

The Executive Wing of Parliament (depicted) is universally known as The Beehive. It was completed in 1977 and remains the primary office for the elected Government of the day.

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🏛️ Speech from the Throne (continued from previous page)

Domain🏛️ Governance & Central Administration
Dated21 December 1999
KeywordsGovernor-General, Parliament, Government Address, Economic Policy, Skills Development, Debt, Research and Development, Living Standards, Economic Transformation, High Skills, Employment, Innovation, Market Forces, Business Partnership, Local Government, Regional Economies, Industry New Zealand, Economic Development, Export Assistance, Current Account Deficit, Agricultural Trade

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