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So far the Government has announced $50 million in funding to support the media industry as it deals with a financial hit from the Covid-19 crisis. There have also been calls for the Government to make digital platforms Google and Facebook share revenue from journalism. Read more
New Zealand has come out of lockdown to enter the purgatory of Three-dom (hopefully for only a couple of weeks). The path towards a new normal remains long and littered with challenges. Read more
Wellington, 30 April - Now is not the time to rethink New Zealand’s hard-won network of trade ties around the world with protectionist policies, warns a new report Reinforcing New Zealand’s trade relationships after Covid-19 by the New Zealand Initiative. While the Covid-19 crisis exposed vulnerabilities in the global supply chain, the answer isn’t to create new trade barriers, said the report’s author and chief editor Nathan Smith. Read more
When the facts of the world change, business models must change to keep up. Legislating the world back to the way it was rarely turns out well, and cobbling together regulatory and tax measures to return the media funding environment to the 1980s seems like a mistake. Read more
Last Wednesday, The New Zealand Initiative published a 13-page research report explaining why reliance on central bank credit to fund fiscal deficits is not a free lunch and it is economically dangerous to claim otherwise. The New Zealand Social Credit Association subsequently placed a full-page advertisement in the weekend’s Herald espousing the opposite position. Read more
Bryce Wilkinson discusses the findings in his report Quantifying the wellbeing costs of Covid-19 in the Business Daily Programme on BBC World Service. Read more
How do you get an economy going again when entire industries are destroyed? How do you encourage private consumption when families are trying to make ends meet? Read more
South Korea has quickly become a model country for effectively containing Covid-19 without needing a national lockdown. Given that the liberal democracy of South Korea is 40 days ahead of New Zealand on the epidemiological curve, it offers important lessons on how to balance an increase of economic activity with continued efforts towards virus elimination as New Zealand leaves Alert Level 4. Read more
Last week, the diligent Epidemic Response Committee was swarmed by a gaggle of head-honcho media types each making their case for a handout. Plenty of other sectors had their time before the committee, but in hour-long slots before being bumped off by the next sector spokesperson. Read more
Wellington, 24 April - South Korea has tackled the Covid-19 crisis competently and New Zealand could learn from the East Asian country as it considers moving to Alert Level 3, according to a new report from the New Zealand Initiative. While no country comparison is perfect, both New Zealand and South Korea are highly-wired and technologically advanced liberal democracies. Read more