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Ryan Bridge: Our country deserves more than an economic recovery · Early Edition with Ryan Bridge

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  Speaker 1: This RBNZ update this week made the point that yes,
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  Speaker 1: we are in bounce back mode. It's back on everybody.
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  Speaker 1: We will grow two and a half percent next year,
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  Speaker 1: they reckon, But this country needs more than that, and
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  Speaker 1: it deserves more than that. The problem for us is,
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  Speaker 1: and has been for many years, in fact, probably thirty
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  Speaker 1: years now, productivity. How much we get out for what
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  Speaker 1: we put in. We went sideways, and just recently it's
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  Speaker 1: been falling. As you know, this is a bad thing.
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  Speaker 1: It's taking us more people, more resources to make less stuff.
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  Speaker 1: It puts a ceiling on our success. It's a wealth killer.
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  Speaker 1: Some reckon, it's the canary in the coal mine. The
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  Speaker 1: thing we should care about most because we're basically sleepwalking
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  Speaker 1: into third world status, which sounds a bit dramatic, like
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  Speaker 1: falling asleep on a plane and waking up in a
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  Speaker 1: different country one day, we will wake up outside of
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  Speaker 1: the OECD within that feel a bit gutting. The solution
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  Speaker 1: in part is AI. The World Economic Forum has put
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  Speaker 1: some numbers on this. They show it can boost labour
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  Speaker 1: productivity and developed countries by up to forty percent over
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  Speaker 1: fifteen years. Imagine if we achieved something even close to
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  Speaker 1: that here, the richer your country, the more you gain,
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  Speaker 1: which stands to reason because higher labor costs incentivize switching
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  Speaker 1: to AI to save on your wage bills. Right, the
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  Speaker 1: economic upswing that we're seeing right now is a business
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  Speaker 1: cycle uplift. They go up, they go down. But if
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  Speaker 1: you're talking about making this country a serious economic contender
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  Speaker 1: on the world stage as we once were, then you
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  Speaker 1: need a plan. You need a strategy, you need electricity
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  Speaker 1: and a shrake ton of it, and you need to
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  Speaker 1: get rid of a whole bunch of regulations. Do we
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  Speaker 1: have those things right now? No, but we need to.
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  Speaker 1: I'm hoping that next year at the election, more than
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  Speaker 1: a tax cut here or a medicard there, somebody from
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  Speaker 1: some parties somewhere I don't even care, which paints us
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  Speaker 1: a credible path towards prosperity and wealth again, because Lord
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  Speaker 1: knows we need it. For more fam earlier edition with
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  Speaker 1: Ryan Bridge. Listen live to Newstalk STB from five am weekdays,
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  Speaker 1: or follow the podcast on iHeartRadio.