Economic directions signalled by the Prime Minister in his first major speech of the year will be welcomed by enterprise, says BusinessNZ – and now they need to be acted on.

Chief Executive Phil O’Reilly says relying on a few major reforms to turn the economy around is not realistic and there will be agreement that a better policy is to ‘do a hundred things well’.

“The 120 initiatives signalled in the Government’s Economic Action Plan may not be individually ground-breaking, but if all are executed well, together they will bring momentum towards a more competitive economy.

“Work towards a stronger high-tech sector and the establishment of the Advanced Technology Institute, and reforms in areas such as industrial relations, ACC and the Resource Management Act will add up to help boost competitiveness and growth.

“It is encouraging to hear the Government’s continued commitment to deliver on the Economic Action Plan.

“The business community is expecting a second term national Government to move on and execute the plan with pace.”