A fascinating piece (not on-line it seems) in the Dom Post on Monday from Conor English, Chief Executive of Federated Farmers, and brother to Finance Minister Bill English. He asks the question in terms of the New Zealand economy- “are we asleep at the wheel?”.
This sounds oddly reminiscient of what the Labour Party has been telling Bill English and John Key for some time, that there is no plan. Conor English notes the seismic changes in the world economy and raises the resulting need for us to innovate and to grow our capital markets. He says
We need to focus on the strategic issues that matter. Are we asleep at the wheel, like Wellington was when it forgot to extend its runway for long haul planes? Will we only wake up to realise the world has passed us by and a real opportunity lost? Lets not sleep. Lets find a solution so future generations can benefit from our Kiwi ingenuity.
An interesting article, raising interesting issues. Could also be interesting to be a fly on the wall at the next English family get-together.
I wonder if the whole statement/ speech would provide more context? I am sure it would. Yes we need to do more – but that is happening – sadly after nine years of socialism, it is taking longer than we would like to turn the ship around.
One of NZs critical advantages is that we can produce food very efficiently. I would sugest that opening up markets with free trade agreements is a major step forward and NZ will continue to be able to compete effectively.
Making our country foreign owned is a stupid idea!
!!!
Help, help, wake us up from this NACTmare
Monty – “it is taking longer than we would like to turn the ship around”. The ship isn’t ‘turning’ because no one is at the wheel. It’s just drifting wherever the tide takes it. There is no plan, other than a redistribution of money from poor to rich.
You got to admit, that’s a plan. Of sorts.
Yes so efficiently that some families can’t afford to eat NZ beef, cheese and milk on a daily basis.
Are you sure this situation will improve when we find more overseas buyers to bid up the prices of these foods even further?
Poor old Bill English he is not sure where he lives Dipton or Wellington. To have a plan for the economy would be asking a bit too much!
“sadly after nine years of socialism, it is taking longer than we would like to turn the ship around.”
I can just see you on the bridge: Admiral Key, Captain English and Midshipman Monty.
nah, Bryce, more likely standing alone on deck as the ship slowly sinks beneath the waves! All the while claiming it’s on course.
Wellington ‘forgot to extend its runway for long haul planes’?
This seems too silly- you can easily fly to Dipton from there (or the closest airport Queenstown).
Conor forgets that B747SP were used by Qantas for a number of years- for long haul. ANZ uses B767 from Wellington as well s
Environmental issues aren’t the only downside of the agrculture boom – it also seems to have had something of a ‘Dutch disease‘ effect.
The current lot in power seem to be of a split mind as to whether we want to be a value-added nation of Wetas and Rakons competing with the Aussies, or a cost-cutting sweatshop competing with the likes of Indonesia. Somehow it can’t be had both ways.
@GWW: the 747SP briefly filled the gap in the Welly trans-Tasman market because AirNZ’s DC10’s need long runways to operate, and twinjets weren’t yet approved for trans-Tasman flights back then.
We don’t need to to grow our capital markets at all – we need to stop being capitalists. It’s the only possibility for a sustainable future.
err Deep Red the “New Zealand Disease” to which you refer is sadly different and worse than you imagine. If ONLY it was because of an increase in tradables that was crowding out other parts of the economy (the effect from the Dutch experience in 1950s to which I imagine allude).
Actually most of the fluctuations re: exchange rates and the long-run average in NZ vs other currencies with which we trade has mainly been based on ‘hot’ capital and our above average short and medium run interest rates.
I might have got you wrong though.
Apples will save us!
Perhaps Brother English was just warming up the waters for Brother English’s Infrastrure announcement.
Brother 1 WHY arent they doing anything?
Brother 2 We are going to open up Infraastrure to PPP
High 5’s
@David T LOL
Asleep at the wheel is a pretty good summary of the economic policy recently. Hope you guys run with this as part of your criticism of the government- they’ve been screwing up even some really no-brainer decisions like lowering the allowable blood alcohol level.
What, not an economic decision you say? Like H it’s not, that law change had a 190:1 benefit:cost ratio. How can a government that campaigned on the economy justify voting down a law that returns 19000% of its cost in savings?
Monty
Again you suprise me. Were you asleep in the comfort of nine years of “socialism”. They were boom years Monty under a centre Govt giving some sturdy foundations for the present lot to plunder.
Cullen warned of the need for austerity but the Nationals pushed the tax cut bribe but forgot to cut the taxes effectively except for the wealthy.
Services are cut of course and we have all seen that happen many times before with National along with entrenching of further slides down the increasing inequity graph.
Our future as an island economy lies in provision through self reliance not capital. Transportation of goods will change both in and out of NZ.
More of the same is not only unlikely but impossible over the longer term.
Get to grips with it Monty. The world is changing and it is not fresh news but still many don’t seem to have the remotest grip on it.
Air travel is not an answer to providing a future no matter what airport or planes are involved. Tourism by sailing ship is probably sustainable if you want a surer bet, although the tourism bit is high risk.
If you don’t know what I am referring to then you should be worried or prepared to live on in ignorance.
It seems the brother of Bill is back…. http://www.nzherald.co.nz/opinion/news/article.cfm?c_id=466&objectid=10696773
Support capitalism and sod anyone else!