New Zealand has topped the world for its response to COVID-19 in a new business report.
Despite ongoing criticism from the Opposition that the Government isn’t fit to handle the economic fallout from the pandemic, a Bloomberg Media COVID-19 study, which ranked countries’ investment outlook and market crisis management, gave New Zealand a glowing report.
Factors included social resilience, coronavirus control, economic recovery, and political stability, with Japan, Taiwan, Singapore, China, and Australia following Aotearoa’s lead.
Australia dropped two places due to a second-wave of COVID-19 and the state of Victoria being plunged back into lockdown.
The US sits 10th on the list, one place behind the UK.
“New Zealand, Singapore [and] Japan are top 3 markets that business executives feel confident in investing for their future businesses,” the report says. “New Zealand, Japan, Taiwan and Australia remain as top destinations business executives are confident to travel to.”
The report surveyed 700 business decision-makers from several sectors aged between 25 and 55. Respondents had to have consumed international news in the past three months.
Finance Minister Grant Robertson said New Zealand currently has one of the most open economies in the world.
“Our strong and steady COVID response means we’re opening up investment opportunities to support the recovery and rebuild.
“The work of all New Zealanders to eliminate COVID-19 when it appears in New Zealand means we have a head start on other economies, and we’re using that to our advantage.”
Opposition party National, meanwhile, believes the Labour doesn’t understand the economy.
“Last night [Tuesday], Treasurer Josh Frydenberg delivered Australia’s budget which included significant tax relief for middle income earners and accelerated depreciation to fire up business investment,” National finance spokesperson Paul Goldsmith said on Wednesday.
“At the end of the day, it’s businesses who will create jobs, and jobs is what we need.”
National wants to raise New Zealand’s tax brackets for 16 months if elected.