New Zealand has a longstanding problem with poor productivity, as productivity levels are well below the average of high-income OECD economies.
Despite the expectation that lower-productivity countries will absorb known technologies from leader countries, and narrow the gap with them via faster productivity growth, this has not happened in New Zealand. A sizeable productivity gap remains.
The Commission will identify policies that could deliver a sustained lift in productivity outcomes. Read our brief from the Minister of Finance here.