Ian McKelvie: We're doing well

Ian McKelvie

NEW ZEALAND is in good shape. We have the fourth fastest economic growth rate in the OECD at 3.6 per cent.

We are making great strides towards building a stronger and more prosperous country -- and we are certainly seeing the benefits in our region.

That progress is due to the hard work and positive attitude of New Zealanders.

It's also because of the stability, cohesion, and confidence that's come from eight years of strong and stable government.

We've turned an $18.4 billion deficit in 2011 into growing surpluses over the past two years -- including a $1.8 billion surplus in 2015/16; while debt is on track to fall to around 20 per cent of GDP by 2020.

Although we're keeping a tight rein on spending, we're also delivering better public services in areas like health, education, welfare and law and order.

Unemployment has dropped to 4.9 per cent, which is the lowest since the start of the Global Financial Crisis. Regional unemployment has dropped too, which is especially good.

In Manawatu-Wanganui it was recorded at 4.6 per cent in the September quarter -- down from 5.6 per cent in the previous June quarter.

In the past year an additional 144,000 people were in work and wages are up 1.9 per cent, compared with inflation of just 0.2 per cent.

The average annual wage is now $12,000 more than when we came into office in 2008.

Inflation remains low. That means gains are going into people's wallets rather than cost increases, and it indicates that economic capacity remains for further growth.

Exports are up $8.4 billion, or 13.4 per cent compared to three years ago -- despite the fact that was when milk prices were near record highs.

At the same time the economy is diversifying -- tourism is now bigger than the dairy industry and we are seeing strong growth in ICT services, construction, the wine industry, international education and hi-tech manufacturing.

The country's net external debt is at the lowest level since 2003 and interest rates in New Zealand are at their lowest level since the 1960s -- which is great for people with a mortgage, or for businesses wanting to invest.

What's more, New Zealand's good performance is being recognised beyond our shores. We have been rated as the easiest place to do business in the world.

We've also been ranked first in the world in the 2016 Legatum Institute's Global Prosperity Index, up from fourth last year.

The index notes New Zealand's ability to turn our wealth into prosperity.

The World Bank's Doing Business report, which measures government regulations and their effect on business across 190 countries, put us at No 1 for the first time.

Together our strong economic results highlight the Government's commitment to creating the right economic conditions to allow businesses to prosper and in turn create more and higher-paying jobs.

It's great for New Zealand -- and for all New Zealanders.