Our economy is recovering but this recovery will be different from those we have had before.
It must be built on exports and investment, and not the debt and spending we saw over the past decade. This is the only way to create the sustainable jobs and higher incomes that hard-working Kiwis deserve.
The recovery might appear a bit patchy at times as the global economy remains uncertain and as households and businesses pay off debt. Therefore, although things are looking up, some Indian families and firms will find the going tough.
On top of that, New Zealand’s recession started earlier than other countries and we have to work harder to shrug it off. Our exporting industries shrank between 2005 and 2010, when New Zealand spent too much and saved too little.
It would therefore take a lot to turn things around and it will not be a short-term job.
It will need a relentless and long-term focus.
That is why National has a comprehensive economic plan with six drivers to get faster economic growth, create jobs, and boost incomes. These drivers are (1) Strengthening our tax system (2) Providing better, smarter public services (3) Reforming regulations (4) Improving education and skills (5) Promoting business innovation and trade and (6) Investing in smart infrastructure.
We have already made good progress.
On October 1, every earner will receive a tax cut. This will make the average family $25 a week better off after GST changes.
You can find out how the tax changes will affect you at www.taxguide.govt.nz
We are improving the frontline public services that you rely on, such as health, education, and law and order – and the way public assets are funded and managed.
We are reforming regulations such as the Resource Management Act, the Building Act, and Employment Law to boost jobs and growth.
We are lifting achievement in schools with National Standards and more frontline funding.
We are working with businesses to add value to our exports through the Primary Growth Partnership and other science, research, and development projects.
And we are unclogging the growth arteries by investing billions in roads, broadband, the electricity network, and rail, as well as upgrading schools, homes, and hospitals.
Last month I launched a $1million scholarship scheme focused on growing exports for Kiwi businesses.
People will be able to apply for up to $110,000 to pay for half of their fees and other costs of studying at top overseas business programmes.
Between 15 and 25 people will receive a scholarship each year.
The programme is open to all businesses, but we are hoping to focus on key areas such as dairy, food, high-value manufacturing and services, and petroleum and minerals.
It is important that we boost New Zealand’s exports, and these scholarships will give senior managers and executive access to top overseas business programmes. For further details, visit our website:
http://www.med.govt.nz/prime_minister’s_scholarships
These steps are just a start. You will see more announcements from the Government in the months ahead as we make ongoing improvements to get faster growth, create jobs, and boost incomes.
National knows that only a strong economy can provide financial security for Indian families, real opportunity for young people, safer communities, and the high-quality education and health services that all New Zealanders need.
John Key is Prime Minister of New Zealand. The above article is exclusive to Indian Newslink ©
Mr Key attended a fundraising dinner organised by Dr Jackie Blue, National MP for Mt Roskill (third from left) in Auckland and her Electorate Chairman Ram Rai (extreme right) on August 20, 2010. They are seen here with National MP Kanwaljit Singh Bakshi and his wife Irvinder. Picture for Indian Newslink by Anas Khan
