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$100 note - Source: ONE News
On Monday November 23 at 9:10pm I'll be hosting a TVNZ 7 Summit called - Beyond the Recession.
It's a two hour debate featuring some of the country's leading businesses people, entrepreneurs, union leaders and economic thinkers.
And it's a must watch if you are concerned about the economy and what sort of country you will be leaving behind for your children and grandkids.
The summit has two main focuses.
Firstly, where is New Zealand one year on from the height of the global financial crisis?
Have we really weathered the crisis? And what risk is there of another dip into recession?
Was it luck or good management? When is unemployment going to turn around?
Secondly, and in some ways more significantly, the debate will look at New Zealand's long term economic future.
How do we stop and turn around the slow decline in living standards that New Zealand's experienced over the last 30 years?
How do we grow more export businesses and get Kiwis confident enough to invest and back entrepreneurs rather than just stick their money in housing?
Can we keep on borrowing to pay our way in the world?
How do we work smarter and lift our productivity?
None of these questions are new of course! Many of these issues were even raised and flagged way back at the Knowledge Wave conference in the early part of the last government's tenure.
But, they are way more pressing now.
Back at the early part of the 2000s we were entering a boom time. Easy credit and full employment made it possible for us to ignore many of these problems.
The global financial crisis has changed all that though. New Zealand can no longer just assume that credit will be easy to find.
We have to start earning more and consuming less. Yes, we escaped the recession better than most, but we are fragile and vulnerable and by no means assured of a solid recovery.
If you doubt me, then read one of the dozen or so reports on our economic future from the likes of Treasury, the NZ Institute, the NZX, and the OECD. They all say the same thing and they all stress that time is running out.
It's time for action. But what action?
This is where the summit comes in.
It is a crucial opportunity to air concrete ideas and work out which ones have broad support.
In my opinion, finding this consensus is really important. Don't forget the government is actually building up for a programme for change. It has got a Tax Working Group looking at land taxes, GST hikes and capital gains taxes; it's got Don Brash looking at ways to catch Australia by 2025; and it's waiting on a major report on how to fix our capital markets.
These are all due by the end of the year with the aim of formulating policy for next year's Budget.
The public's acceptance and understanding of any proposed changes will be very important to them.
So, it is vital that you, we, are all involved and aware of what might be coming.
Beyond the Recession on Monday night is the perfect opportunity to start familiarising yourself with the prevailing views and arguments.
See you on Monday night&it'll be a blast.
November is Spotlight on the Economy month for TVNZ7
In the Beyond The Recession Summit, a dozen business leaders, analysts and commentators will share their views in the summit - the repercussions of this challenging economic period, and the impact it will have on society both economically and culturally.
To read more about it
click here.
