The Productivity Commission called for submissions on the New Zealand firms: reaching for the frontier Issues Paper, as part of its inquiry looking at New Zealand’s most productive firms and how their economic performance could be maximised.
Key points from our submission
- CA ANZ supports the objectives of this inquiry. Lifting productivity is crucial for securing economic and social progress and this is particularly relevant now as New Zealand’s economy recovers from the effects of the COVID-19 pandemic.
- We also support the specific focus being placed on the Māori business community. We continue to encourage all businesses to learn from the Māori business community and incorporate principles such as kaitiakitanga and manaakitanga in their approaches to strategy and operations.
- In determining how best to measure productivity, we agree with the Productivity Commission’s approach to use international frameworks as a starting point (particularly as this aids comparability of data across jurisdictions). We also encourage the Productivity Commission to consider multi-capital frameworks.
- The regulatory framework is crucial in encouraging the diffusion of technology, ideas and business practices as well as the appropriate allocation of resources needed to create a strong platform for ongoing productivity and prosperity. In addition, this framework can be used as a platform for encouraging trade and international business connections.
New Zealand Productivity Commission
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