Minister's foreword
Economic growth is key to raising living standards, creating higher-paying jobs, and delivering the vital public services New Zealanders want and deserve.
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As Minister for Economic Growth, I am focused on what will make New Zealand’s economy grow faster so there are better opportunities for Kiwis to pursue their dreams in this great country.
New Zealand has been through a tough time, as high inflation forced up interest rates and our economy was driven into recession. Families have seen rapid increases in prices and felt the impact of a rising cost of living. At the same time, the Government had to take immediate action to address a structural deficit in the Government’s books that threatens New Zealand’s debt position and ultimately the long-term financial security of New Zealanders.
After such a challenging period, it’s easy to lose sight of the reasons to be optimistic about New Zealand’s economic prospects. It is worth reflecting on how great our potential is.
We’re a safe, secure country with established trading relationships and a reputation as a good place to
do business. We are blessed with abundant natural resources – everything from ocean to freshwater, fertile land to minerals and temperate weather.
In a world worried about food security, we feed more than 40 million people with levels of efficiency and sustainability that are the envy of the world. We have a long history of stable democracy, strong institutions and rule of law. We’ve produced world-leading scientific breakthroughs and innovative firms.
So the question is not whether New Zealand can succeed, the question is how can we unlock our potential to drive even more success in the years ahead?
Going For Growth outlines the approach the Government is taking to turbo-charge our economy. It is economic growth that results in more and better-paying jobs for Kiwis, creates wealth for our communities, and brings in the revenue needed to pay for world-class infrastructure, health and education services.
It is ultimately businesses that grow the economy through their decisions to expand, invest and create more jobs. The Government’s role is to create the conditions for them to do that. This includes getting the basics right, such as low and stable inflation, manageable interest rates and credible fiscal management. It means ensuring the Government doesn’t make it harder to do business by tying people up in red tape or sticking rigidly to rules that simply make no sense.
Going For Growth sets out five pillars driving our push for economic growth: Developing talent, Competitive business settings, Promoting global trade and investment, Innovation, technology and science, and Infrastructure for growth. Under each pillar are actions already underway to support growth, with much more to come.
I want to harness the great ideas held outside Government to push even harder for growth. That’s why I’m inviting feedback on this first version of Going For Growth. I want genuine engagement with our business community, our future leaders and our people to further strengthen the platform for growth.
Future iterations of Going For Growth will be released as your ideas are adopted and as the Government makes progress through its agenda.
There is reason to be optimistic that better times are ahead. To grasp the opportunities in front of us, we must lean in and boldly pursue the things that will make this country the wealthier country we want it to be. We must adopt a ‘yes’ mentality when sometimes it is easier to say ‘no’.
I’m fired up for this challenge and I want you alongside me as we build a stronger, wealthier, more resilient New Zealand.
Let’s all Go For Growth.
Hon Nicola Willis
Minister for Economic
Growth Minister of Finance
