English takes budget message to investors overseas
Finance Minister Bill English is heading offshore on a budget roadtrip to sell the New Zealand economic story to investors.
He leaves on Monday for Singapore and Hong Kong, where he will speak to business, investment and political leaders about New Zealand’s progress in building faster growth and higher national savings.
“Budget 2011 sets out a faster path to healthy surplus in 2014/15 - a year sooner than expected last year, despite the large costs involved in our commitment to rebuild Christchurch,” Mr English said, announcing his trip. “Given the significant challenges we have faced in the past three years, this achievement should not be under estimated.
“The Budget also helps lift national savings by returning to surplus sooner, increasing private savings in KiwiSaver and providing quality investment opportunities for New Zealanders.
“Compared to the outlook of most developed countries, this is a strong economic story, which I am keen to share.
“I am confident the investment and business communities in Singapore and Hong Kong will understand the significant progress we are making in turning around New Zealand’s high levels of debt and lifting national savings.”
In Singapore, Mr English will speak to the Euromoney Australia and New Zealand Debt Capital Markets Forum, the New Zealand Chamber of Commerce and a function of senior fund managers.
He will also meet Singapore’s Prime Minister Lee Hsien Loong, Finance Minister Tharman Shanmugaratnam and Singapore Monetary Authority managing director Ravi Menon.
In Hong Kong on May 26, Mr English will meet Hong Kong Monetary Authority chief executive Norman Chan and speak at a New Zealand capital markets forum and a business function at the Foreign Correspondents’ Club.
He returns to New Zealand on 27 May.
Signup to free NBR email alerts here
Back to home
Back to top
Print
Email
Share
Delicious
Digg
StumbleUpon
Reddit
Google
Yahoo
Technorati
Scoopit
NBR SERVICES
SUBSCRIPTIONS
Sign up for NBR subscriber content or email alerts
Latest
Comments and questions6
Good luck Bill
It would be better if it was an economic development story though - hopefully you are still around next year to tell that story to investors - if you and your government have designed an economic development strategy that will take NZ Inc from the bottom of the OECD ( in terms of developed countries ) to the top.
Foreign investors will flock to NZ provided the OIO is reviewed to suit...Mr EINGLISH, save this trip.
A waste of time, English going a/seas. He just doesn't have the wherewithal.
What a waste of time, the audience will be laughing at him - IMHO he's a case study for fiscal foolishness and economic mismanagement..
Bragging about one's failures and the hardship imposed on the whole country to try and undo his mess is nothing to be proud of IMHO. How embarrassing for New Zealand.
All good points. But, if you read the UN's manifesto towards global governance; consistent with Gordon Brown's own papers; you'll find that English and Key score A+
Absolutely on the knocker - No Time!! Couldn't agree more - the OIO needs to be reviewed with a view to having it disbanded and re- established as an independent crown entity just like the Takeovers Panel or the FMA or Commerce Commission. By hiding the OIO which is the most inefficient bureacracy within another bigger inefficient bureacracy, LINZ (a mere land recorder), means the OIO has no public accountability for their decisions (no transparency) or processing delays and can hide behind public sector bureaucracy. Very irresponsible of the government (maybe Ministers have been lied to by officials as to why OIO is so ineffective) and shows Ministers have no genuine interest in encouraging overseas investments into New Zealand - just look at the OIO's delays in processing commercial transactions e.g. Sucragen/Wilmar last December - NBR's article 3 December 2010. So, if the public service has to find cuts, surely the OIO must be seriously scrutinised for its lack of effectiveness, commercial ineptitude and lack of efficiency. NZ is running out of time if nothing is done to change the OIO as it does not fit Bill English's marketing plan - what's the point of foreign investors wishing to invest in NZ but find the OIO's processing delays and lack of commercial realism cost the investors financially.
Post new comment or question
To share this article, click on a service below