The trans-Tasman productivity report

December 13th, 2012 at 10:00 am by David Farrar

The recommendations from the joint report by the Australian and NZ productivity commissions are here. Some of the more significant ones are:

Mutual recognition of imputation credits (MRIC) would be expected to result in a more integrated capital market and improve trans-Tasman economic efficiency.
The prerequisite conditions for a trans-Tasman monetary union do not exist.
The Australian and New Zealand Governments should proceed with the implementation of a single application and examination process for patents.
The Australian and New Zealand Governments should waive CER Rules of Origin for all items for which Australia’s and New Zealand’s Most Favoured Nation tariffs are at 5 percent or less and consider reducing any tariffs that exceed 5 percent to that level.
The Australian and New Zealand Governments should remove the remaining restrictions on the single trans-Tasman aviation market.
The Australian and New Zealand Governments should consider removing remaining restrictions on trans-Tasman foreign direct investment.
The Australian and New Zealand Governments should consider a ‘trans-Tasman tourist visa’ for citizens from other relevant countries who wish to travel to both countries.
The Australian Government should address the issues faced by a small but growing number of non-Protected Special Category Visa holders living long term in Australia, including their access to certain welfare supports and voting rights.

Many good proposals there.

This entry was posted on Thursday, December 13th, 2012 at 10:00 am and is filed under International Politics, NZ Politics. You can follow any responses to this entry through the RSS 2.0 feed. You can skip to the end and leave a response. Pinging is currently not allowed.

anonymouse (492) Says:
December 13th, 2012 at 10:45 am
Mutual recognition of tax credits is not gonna happen while both countries are running deficits,

The upfront cost is estimated to be about $500 mill in Australia and a couple of hundred mill here.

Sure there is a bigger gain for the economies in the longer term, but when both countries due to have elections over the next 2 years, giving away tax revenue based on foreign paid tax is stupid ( from a politicians point of view) ,as that money could be much better used to bribe your own voters.
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krazykiwi (9,188) Says:
December 13th, 2012 at 10:57 am
The best way to raise productivity is to stop rewarding individual behaviour which is unproductive. Still, those employed by productivity commissions wouldn’t have jobs if that solution was promoted.
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Harriet (1,808) Says:
December 13th, 2012 at 1:21 pm
krazykiwi#

If government was efficent – they too would not exist!
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