workstream initiative summary

5.

NEAR TERM & HIGH PRIORITY

BIG

• Cabinet Directive issued to government agencies/regulators that “now is not the time to be introducing new or extended rules, standards or processes that create additional compliance costs for firms

• A fund for initiatives to encourage more tourists to New Zealand, both long and short haul

• Actively manage regulatory approval process for complex and/or major projects (over $25M)

DETAILED

• Loans for first home building and renovation/energy efficiency improvements

• Package of measures designed to ensure that new and existing regulations impose only necessary costs of business (e.g. rolling reviews of legislation, annual Compliance Cost Reduction Bill, targets for reductions in compliance costs, test panels and SME Impact Statements, reasonably-priced assistance for interpretation of regulations, sunset clauses, set-up a Productivity Commission and a Better Regulation Executive, and one annual commencement date for legislation).

• Streamline building consents processes• Incentives to invest in R&D and capital expenditure• New carbon trading scheme

Workstream Initiative SummaryHelping Firms Survive

5.

LONGER TERM FOR DEVELOPMENT AND CONSIDERATION

• Encourage development of recycling facilities• Investment Allowance for capital expenditure on IT, technology, machinery, plant and

buildings• Large private sector firms commit themselves to meet or exceed best commercial practice in

the payment of business to business invoices• Improved access to capital for SMEs• Produce a Franchising Code of Practice• Change immigration rules for high net worth individuals to relax language and age

restrictions on residency• Review and reduce the role of the Electricity Commission• Increase credit availability for consumers• Improve business advice and information availability• Inland Revenue Department to take a proactive approach to contacting and assisting firms to

manage their tax payments when they fall behind• Actively seek to get New Zealand businesses capable of extracting maximum benefit from

Rugby World Cup and to offer world-class experience to people visiting during RWC in particular by using smart technology


5.

FURTHER INVESTIGATION REQUIRED

• Increase expenditure on international education promotion• Reduce thresholds on overseas market development grants• Ensure Emissions Trading Scheme does not affect the competitiveness of NZ exporters• Encourage all Government departments to review quality of expenditure not just quantity• Accelerate harmonisation of all Australia/New Zealand business laws and investigate joint

currency• Appoint “last chance” business mentors to develop rescue plans with firms• Develop Government sponsored database of highly qualified/experienced business

managers• Temporary extension of 90 day probation period to all firms• Accelerate review of Securities Act to enhance investment• More help to firms on dealing with regulations• Providing more opportunity for NZ SMEs to bid more successfully for Govt procurement

projects• Require productivity impact statements for all regulations prior to their being passed• Establish “one-stop shop” for access to business assistance available from Government• Fund a new international telecommunications cable that will charge New Zealand businesses

access on a cost plus basis.• Introduce electronic New Zealand – San Francisco Business Passport.


5.


• Include Road User Charges in price of Diesel (let primary sector reclaim GST)• Commerce Act/Commerce Commission policy review ( to support mergers and acquisitions

activity to save failing firms also to minimise trade practice enforcement drag on business) Additional funds for domestic tourism marketing

• Enhance tourism infrastructure through building a national convention centre and cruise port facilities

• Develop new air routes and air services in sustainable in-bound markets• High profile domestic tourism reward scheme• Targeted subsidy to Air NZ to protect key feeder routes• Tighten controls on companies that owe monies to sub-contractors• Stronger penalties for unlicensed workers• Government funding/subsidies for sustainability initiatives• Government to support banks in offering “trades rates” on over-drafts• Elimination of quangos• Introduce “think small first” concept into business policy-making• Streamline Companies Act to provide a more flexible means for SMEs to raise capital• Drop all ideas for a “Buy NZ” campaign• Abolish requirement for Taiwanese tourists to get a visa


5.


• Provide training for firms in how to take advantage of ultra high-speed broadband• Advice to firms on making best use of available and applicable research• Short-term sponsorship funding for significant regional events that may have traditional

sources of funding terminated• Employ top-class commissioned sales people to find opportunities for NZ firms in overseas

markets• Funding to promote clusters and increased cooperation between businesses• Deepening the assistance available to firms wanting to internationalise• Government to lend expert employees to work in the private sector on secondment• Encourage “Buy NZ Made” purchasing by private companies• Reduce the required level of company contribution for NZTEs market development

assistance grants and Technology NZ business technology grants from 50:50 to 80:20• Fund mentoring for tourist businesses• Speed up approvals of consents to build Tourism infrastructure• Fund business incubators to allow firms to stay longer• Funding to assist firms to take advantage of IP and other assets being sold overseas as

result of recession• Incentivise business mentors to work with 50+ FTE firms to assist them to raise firms to a

higher level


5.


• Attract world-class business advisors and Executive Education advisors to come and teach in NZ

• Time-limited income support for small business owners thinking of closing business if jobs will be lost

• Revitalise work-place productivity initiatives• Restructure Qualmark • Incentivise a new level of partnership between key Tourism agencies and stakeholders• Focus on growing “visiting families and relatives” tourist component• Apply new money to investigating and developing new tourism markets• Limit scope of Takeovers Panel to large companies with broad share-holder bases• Design a National Events Strategy to attract international events to NZ• Form a Financial Strategy Committee comprising competent financial policy experts,

Treasury and the Reserve Bank to agree and implement initiatives to minimise the effects on NZ of the current financial crisis

• Adapt Government procurement to boost local suppliers• Establish a fund to support productivity initiatives in firms• Review and expand Export Assistance schemes• Set-up sector groups including unions to identify specific measures that could assistance

their industry during the current crisis


5.


• Government spokespeople should be encouraged to make positive statements about the importance of prudent spending

• Reduce GST from 12.5% to 9%• Government assistance to take good private sector performers and give them training• Media to provide stories on what we are doing to improve things for the future• Enable tourists to claim GST refunds at airport on goods purchased anywhere in NZ• Restore the employer rebate for Kiwisaver• Provide first home buyer grants• Include Government-land in the Gateway Scheme for assisted affordability needs in housing• Apply a Jeff Kennett-approach to Auckland, e.g. build a cruise ship terminal• Create an Auckland Regional Visitor Fund that is funded by hotel tax• Make all direct travel to NZ from long-haul destinations $500 per ticket provided they stay 1

week• Government to partner with private sector to provide advice and management capability

development opportunities• Provide small enterprises with a voucher to access business planning advice, mentoring

and start-up knowledge services• Introduce a Regulatory Responsibility Act to improve the overall quality of regulation


5.


• Breakdown health cartels and job demarcations

• Bring forward Housing New Zealand projects e.g. Gateway and shared equity

• Commercial build refit – local authority to handle consents with urgency and regulatory impact reduced

• Utilise the short-term and long-term “occupational shortages” immigration lists to focus training expenditure and support

• Allow overseas companies and individuals to retain overseas investment funds tax-free in New Zealand

• Speed up the police checks for employees who require them

• Retrain, in their own location, people in declining seasonal work occupations ( e.g. meat processing) so they can be skilled enough to take on new work later

• Create a tourist departure tax of $15 per person

• Enhance offerings of Export Credits office

• Introduce net benefit testing for all legislation and regulation before it is passed

• Improve system of accessibility to conservation estate for tourism

• Link awarding of construction contracts to the number of apprentices employed


5.


• Change monetary policy to allow for a more stable exchange rate• Give incentives to firms to employ additional export and design staff• Rebate PAYE if firms add additional staff over the next 12 months• For people who work in New Zealand only part of the year earnings over $1 million will be

exempt PAYE• Government to free up more inexpensive land for housing development• Government to purchase locomotives from New Zealand manufacturers not China• Introduce a capital gains tax for transactions concerning second properties• Use technology for Business programme as a channel to administer debt funding for

growing companies• Create an entrepreneur/investor-favoured immigration category• Consider the Australian model for accelerated depreciation• Create partnerships between firms with high technology and design facilities and firms

needing to build those attributes• Government to co-fund/underwrite hedging for forex• Support businesses to develop hedging capability (e.g. how to hedge)• Upskill Board members in potential productivity gains from modern technologies and

business models


workstream initiative summary

Documents