Building resilience to persistent supply chain disruptions will be an important part of securing future economic stability and prosperity in Aotearoa New Zealand.
The evidence suggests we will experience more frequent and persistent disruptions to our supply chains over the coming years. Further, decades of underinvestment in social and physical infrastructure and growing inequality have left Aotearoa New Zealand vulnerable to economic shocks. If unaddressed, our exposure to supply chain disruptions and our lack of economic resilience will continue to have uneven distributional consequences.
This submission outlines a set of recommendations for the Productivity Commission’s inquiry into building economic resilience. The NZCTU recommends that building economic resilience will require, among other things, active industrial policy, new institutions for managing inflation and making the cost of living more affordable, and a rebalancing of fiscal priorities.