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Stronger business investment – by farmers, too – is essential for NZ’s post-Covid recovery

23/01/2021

Point of Order

In  its Thursday editorial  the NZ  Herald  speaks an important truth:  “Investment important to  stay  on  track”.  This  won’t  have  startled  its  more literate  readers but  in  its text  it notes  the  strong result  in the latest  Global Dairy Trade auction, which  prompted Westpac  to raise  its  forecast  for  dairy giant Fonterra’s payout  to its farmers to $7.50kg/MS  this season.

“If  this turns  out to be correct,  it will represent the highest  payout in  seven years for  a  sector of  the economy that is arguably still  NZ’s  most  important, even before international  tourism was effectively suspended by Covid-19”.

The  Herald editorial  goes on to make the case that despite the buoyant mood,  the  only  realistic  way for  NZ to remain   in such  solid shape in the  post-Covid era  is  through stronger  business  investment.

This  is  the theme  which  Point  of  Order  set  out  earlier  this  week when it  contended …

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