The economy is still in good shape with GDP running at slightly below 4% and forecast to continue at that pace next year. We have seen a halt to interest rate increases for the time being and inflation is under control. The RBNZ notion that the economy is incapable of growing any faster due to supply constraints is one that is not shared by many business owners. Our all-important primary export produce pricing has taken a hit on the dairy side and log pricing and volumes are well down due to oversupply and competition from other sources.
We are now 4 years into the one Auckland Council regime, and it has become very clear that the city simply cannot afford the major capital spending that is required, without large rate increases or heavy borrowing, resulting in projects being deferred. It is good to see the rating differential being addressed with business rates being reduced over time to be more in line with residential rates. GETBA have been beating the drum on this one for several years. Auckland’s transport problems are top of the agenda with various options being considered for funding the major projects – the new Harbour crossing, the East-West link, the AMETI project and the Ports to Onehunga connection. GETBA has been a strong voice on AMETI and the East-West link.
I attended a recent Business Owners Forum and have sent staff along to Management Bites seminars – both extremely worthwhile series. I would encourage you or your staff to get along to take advantage of these. The Waste Minimisation Initiative is up and running and we are seeing examples of very worthwhile savings being made by companies, along with a shift toward sustainable business practice.
As always, the GETBA website is the source for What’s On and other useful information, so please visit this regularly to get up to date. There is plenty happening in East Tamaki!
Richard Poole