Increased investment in science needed

BBC news reports that the British opposition party is proposing increased government investment in science - as a means of boosting productivity and economic growth. Might be worth governments in new Zealand considering?

Mobile and Productive

The links between adoption of mobile technology and productivity have been further evidenced with new research being completed by McKinseys. Billions of dollars of value has been added to the US economy in recent years due to mobile devices - phones, PDAs and laptops. If productivity is the end game then we could do a lot worse than look for ways to ensure that kiwi companies and business operators have the information they need, wherever they are at whatever time they need it. This is the power of mobility.

Productivity - The Challenge for the nation

The new watchword is productivity. Our ability to be more productive as a nation is likely to be the leading factor in new Zealand's growth and propsperity in the next two decades. Its not just about working harder. We need to work smarter. new Zealanders are already among the hardest working people in the OECD.
Quality of management, application of technology in ways that add value and boost productivity - these are the areas where we need to focus.

Skills development, lower income tax rates, and the promotion of investment in export-led, high value goods and services have to be part of the new policy programme. Science and technology have key rolls to play. We can't just reply on dairy products or tourism to prosper.

Higher productivity - Not Longer Hours- the answer

Improving productivity needs to be at the centre of the government's agenda over the remainder of its term in office. The previous government's focus was on drawing more people into the workforce - in fact paying people to join the workforce. The damage of such an approach has not yet been calculated. However, some work has been done on the effects on productivity. New Zealand Business Roundtable Articles shows that productivity growth slumped during the first nine years of the 21st century. New Zealand continued to lag behind the faster-growing Australian economy. Other commentators have already highlighted the greater use of technology, labour-saving devices, shorter working weeks and quality of management as potential contributing factors in the superior performance of other countries such as France and Ireland.

Step Change Needed in Economic Performance

New Zealand needs a step change in economic performance if it is to raise the living standards of all its people and to afford the increasingly expensive healthcare treatments now available. In addition we also have a large number of baby-boomers coming through the system to retirement during the next two decades.

Productivity growth, adoption of hi-tech production methods and lower income tax rates are all part of the policy mix required. We also need to agree and implement a NZ Broadband Strategy and build links between our education system, job training and the global marketplace in a way that encourages kiwi companies to remain headquartered here and to be smart about retention of Intellectual Property rights here in New Zealand.

Whichever parties are involved in forming the next government should probably consider convening a NZ Summit of the type David Lange convened after the 1984 election. We need to debate and agree some key national goals and then set about achieving them.