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Statement of Intent 2014-2019

New Zealand Has an Internationally Connected and Competitive Business Environment

What would success look like?

An internationalisation lens is being systematically applied to significant policy/regulatory work programmes and government interactions with business, households and international stakeholders.

Medium-term success:

  • Trade intensity increases as a proportion of GDP.
  • Flows of inwards and outwards direct investment increase to levels more proximate to other small, open economies, while becoming demonstrably more diverse and productivity enhancing.

Specific 2014/15 objectives:

  • Economic agencies work together more collaboratively and have an agreed set of priorities for achieving an internationally connected and competitive business environment.
  • The Treasury has an efficient, effective and resilient network of international connections.
  • Government agencies work together to ensure policy and regulatory programmes support a strong domestic business environment with greater levels of productivity, and productive and sustainable use of natural resources.

Medium-term success:

  • The Government's Business Growth Agenda targets are achieved.
  • GDP per hour worked grows substantially faster than the OECD average.
  • Business investment as a percentage of GDP increases substantially relative to the OECD mean.
  • New Zealand signs up for a post-2020 climate change international commitment that reflects our fair share and is aligned with domestic settings.
  • Reforms are progressed to allow more efficient allocation of water quantity and quality.
  • New Zealand improves its ranking on regulatory barriers to business.
  • New Zealand's tax system is considered internationally competitive while achieving revenue-raising targets.
  • The perceived quality of New Zealand's infrastructure increases in measures such as those produced by the World Economic Forum (WEF).

Specific 2014/15 objectives:

  • Government agencies are working collaboratively together on the implementation of the Business Growth Agenda actions.
  • Government agencies are working more closely in partnership with business in developing advice on an international competitiveness business environment.
  • NZECO operates with a larger and more diversified portfolio of credit risks (by product/sector/counterparty).
  • Ninety percent of Significant Regulatory Impact Statements meet most or all Regulatory Impact Analysis requirements.
  • Government agencies work collaboratively together and take a long-term view to maximise the long-term value of New Zealand's natural endowments.
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