READER REPORT:

Can you fix the economy? It's time to invest

MAXINE WEBB
Last updated 05:00 28/12/2012

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What the New Zealand economy needs is investment capital! After four years of cost cutting, downsizing, economic contraction, and the complete annihilation of investment companies, New Zealand firms need access to capital for growth.

That growth can be in efficiency, safety, quality or diversity. It doesn't have to be in quantity of product, and isn't likely to be initially, as people's spending habits have adjusted to a slower and less robust economy in a tight world market.

Although the banks are sitting on record profits, their reluctance to lend to the business sector can be seen in increased restrictions governing lending criteria, guarantees covering many times the amount borrowed, high commercial interest rates reflecting their perception of risk and an increased percentage of investment funds being channelled into the residential market. This all creates artificially high housing prices and restricts economic growth.

More jobs, a higher tax take, greater opportunities, an improved economy, less dependence, more social benefits, and a better brighter future is just around the corner. 


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