Economic Plan

We are putting in place the building blocks for an economy where all businesses, large and small, can thrive and pay higher wages, and where our emissions are rapidly trending to net-zero; an economy that is resilient and provides economic security for all in good times and bad.

The world economy is in a period of structural and geopolitical change. The destructive impacts of climate change are increasingly being felt. There are risks to New Zealand from inaction, but there are also huge opportunities for our innovative businesses and people to build a high wage, low emissions economy.

Addressing New Zealand’s long-standing challenges is key to achieving our climate goals. To take advantage of these opportunities and build a sustainable, globally competitive economy, bold action and investment is needed now.

That is why we are tackling the long-standing challenges that have held us back: our low rate of productivity and capital intensity, our infrastructure deficit, our ongoing skills shortages, our over-reliance on commodity exports, and the persistent inequality that limits the ability of many of our people to contribute to building a more prosperous future where they can live the lives they value.

That is why we have also legislated to create the necessary climate change frameworks and institutions to provide business with the certainty needed to drive down emissions and address climate change risks.

We will achieve a high wage low emissions economy by working together, by strengthening our culture of partnership between business, workers, Māori, local communities and Government, and by building on our global brand for quality, integrity and honesty. To lay the groundwork for achieving our vision, we are implementing a suite of policies across 5 areas of focus:

• Unleashing Business Potential
• Strengthening International Connections
• Increasing Capabilities and Opportunities
• Supporting Māori and Pacific Aspirations
• Strengthening our Foundations