✨ Speech from the Throne
22 DECEMBER
NEW ZEALAND GAZETTE
4679
world trade negotiations. Equally, legitimate issues of labour standards and environmental concerns need to be integrated better with trade agreements. Those concerns, however, should not be used as devices to protect against fair competition from developing countries.
New Zealand needs to see greater reciprocity from some of our trading partners on tariff reductions. The costs and benefits of the progressive tariff reduction will be properly examined. A more considered and balanced approach to tariff reduction will be taken.
Improving New Zealand’s level of savings is also crucial to reducing our national debt as a proportion of Gross Domestic Product. My government is committed to putting New Zealand Superannuation on a sound and fair basis for the long term. The level of payment in relation to other incomes will be restored to that agreed in the multiparty accord in 1993. Discussions will be undertaken on moving to a dedicated tax and fund basis for New Zealand Superannuation which will create greater certainty as to long term provision.
Measures to improve private savings will also be considered, including reducing compliance costs and providing an alternative tax regime more conducive to encouraging superannuation savings.
The general issue of lifting our savings performance will be part of the broad structural review of the taxation system which will be undertaken. This review will involve a careful consideration of the present structure of the taxation system and of various options for changes to it.
The purpose of this review is to make suggestions to improve the robustness of the taxation system in order to ensure the challenges of changing technology, growing globalisation, and increasing complexity can be met in a fair and efficient way. The review will take into account the promotion of sustainable growth and increased equity.
An independent review will also be undertaken of the operation of monetary policy since the passing of the Reserve Bank Act in 1989. The review will focus on how the actions of the Reserve Bank have contributed to, or detracted from, maintaining a high and consistent level of growth in the New Zealand economy, especially the tradeables sector.
HONOURABLE MEMBERS. My government has a mandate from the people for repealing the Employment Contracts Act and replacing it with fairer and more balanced employment relations legislation.
This legislation will preserve the freedom to choose whether or not to join a union. It will mandate good faith bargaining. The legislation will enable New Zealand, for the first time, to observe fully the International Labour Organisation conventions 87 and 98 with respect to freedom of association.
The minimum code will be reviewed and strengthened. Greater enforcement will be undertaken of the provisions of the minimum code to ensure they are not flouted. A review of the minimum wage has been undertaken as a matter of priority and an increase has been announced.
Next Page →
PDF embedding disabled (Crown copyright)
View this page online at:
VUW Te Waharoa —
NZ Gazette 1999, No 198
NZLII —
NZ Gazette 1999, No 198
✨ LLM interpretation of page content
🏛️
Speech from the Throne
(continued from previous page)
🏛️ Governance & Central Administration22 December 1999
Governor-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, World Trade Negotiations, Labour Standards, Environmental Concerns, Tariff Reduction, National Savings, New Zealand Superannuation, Taxation System, Monetary Policy, Reserve Bank Act, Employment Contracts Act, Employment Relations Legislation, Union, Good Faith Bargaining, International Labour Organisation, Minimum Wage