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NZ Economy: Business Wants Action Now

February 3rd, 2010

A new survey of public and private sector CEOs by PricewaterhouseCoopers has found the nation’s business leaders are gaining confidence about the year ahead but believe it is “crunch time” for Govt policy. The CEOs expect the Govt to roll out significant announcements in key policy areas including regulation, infrastructure, business innovation, education and tax.

While the survey found NZ CEOs are increasingly optimistic about the economy, they lag their Aust counterparts. Only 8% of the 72 NZ business leaders questioned believed the economy had recovered when the survey was done at the end of 2009. Almost all had cut costs and 79% claimed they had changed their approach to risk management since the global financial crisis began.

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More than two-thirds of those questioned think NZ will become more protectionist following the recession, but nearly half believe greater regulation is a threat to growth. Businesses are also more focused on staff, saying there have been “record levels” of productivity and engagement from their staff. 75% are planning to invest more in leadership development within the next three years.

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