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Building a Better Future – NZCTU launches its consultation on an economic development strategy for NZ

Building a Better Future cover

NZCTU has today launched its consultation on a new economic development strategy for New Zealand. This is available at:

NZCTU Economist Craig Renney said “We’re arriving at a turning point in New Zealand’s economic history. We need a new economic strategy that reflects our collective goals and aspirations, and we want to start a conversation with New Zealanders about how we create this strategy together”.

The strategy document calls for New Zealand to take a mission-led approach to its future.

Renney said “There are many voices calling for a return to normal after COVID. We reject a future in which we simply return to all the problems we had before – such as homelessness, inequality, and economic insecurity. We are suggesting five ‘missions’ together with five key policies that could help transform our economy and society. They are:

1. Mission: Economic Equity.

Policy proposal: A National Investment Bank that delivers our central economic missions. A new state-owned default Kiwisaver provider to hold all default funds.

2. Mission: Delivering Our Infrastructure Needs for the 21st Century.

Policy proposal: A Ministry of Green Works that delivers adequate housing, climate resilience, economic equity, decent work and a just transition

3. Mission: A Just Transition Towards Climate Mitigation and Resilience.

Policy proposal: An energy revolution alongside a Just Transition

4. Mission: Decent Work and Better Work / Life Balance.

Policy proposal: A Decent Work Act – to replace the Employment Relations Act; pilot a four-day work week and free high quality public Early Childhood Education progressively provided over time

5. Mission: Enabling the Enduring Wellbeing of New Zealanders.

Policy proposal: Working with central government economic agencies to embed and build a genuine wellbeing approach to economic development”

NZCTU will be consulting with the public on this report and its policy proposals until early next year. We expect to produce the final report in May 2023.