Government Policies and Port of Tauranga

This document discusses the impact of government policies on the Port of Tauranga and the New Zealand economy. It explores Auckland's 10-year transport project, Tolaga Bay Innovation, and venture capital funding. Theoretical aspects of the policies are also discussed, along with the impacts on the economy and the contribution of the port to the GDP of New Zealand.

Running head: GOVERNMENT POLICIES AND PORT OF TAURANGA
Government Policies and Port of Tauranga
Name of the Student:
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GOVERNMENT POLICIES AND PORT OF TAURANGA
Table of Contents
Introduction................................................................................................................................2
Discussion of the policies...........................................................................................................3
1. Auckland’s 10-year transport project and policies..........................................................4
2. Tolaga Bay Innovation....................................................................................................4
3. Venture capital funding...................................................................................................5
Theoretical aspects of the policies.............................................................................................6
Impacts of the polices on the economy....................................................................................12
Contribution of the Port to the GDP of New Zealand..............................................................13
Theoretical concepts.................................................................................................................14
Economic indicators analysing the implication of macro economy........................................15
Impact of international economic changes on Port..................................................................16
Conclusion................................................................................................................................17
Reference..................................................................................................................................19

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Introduction
The government of a country introduces polices for the betterment of economic,
socio-economic and demographic changes by changing the economic factors like changing
government expenditure and implementing new tax policies. There are some government
plans and programs to develop the transport system which has greater economic implications.
The transport sector has a significant contribution to the economy and has a balanced regional
development. It has a great impact on the national integration in the international economic
market. In coastal areas, ports compose a significant economic activity. The most important
feature of ports is that it functions as an important entry point of international trade. Thus,
they act as an accelerator of economic development in the globalized economy. The advance
logistic technology and changes of economic structure shows the decreasing trend in the local
benefits. The sea transportation is cheaper and effective transport system compared to the
land or airways transportation. Large industries have the huge demand for the safe and cheap
transportation to export final goods and import raw materials (Foy et al., 2018). Therefore,
most of the industries are found in the coastal belts. These industries has a great impact on the
lives of the employees.
The study also discusses about New Zealand’s current economic policies where three
government initiatives has been selected for research of impact of the policies, plans and
programes on macro economy of New Zealand. The theoretical connection with the policies
or the explanation of the policies are presented with the help of macroeconomic theories.
An introduction is provided on these in the first section, the second section is
discussion with sub section that describes the policies, third section provides the theoretical
aspects of the implemented policies, fourth section analyses the impacts of the policies on the
economy of New Zealand with the help of the macro economic theories. In the next section

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the contribution of the port to the GDP of New Zealand is discussed. The sixth section
describes the economic indicators that explains the implication of macro economy. Seventh
section describes the changes in the port due to changes in international economy. The last
section concludes the report with the three policies and contribution of the port in the
economy of New Zealand.
Discussion of the policies
New Zealand has focused on the wellbeing in the recent time and the Wellbeing
Budget was significantly attracts the government policies which is seen in the 2019
government budget. These wellbeing budget is used in investing in the rail, cleaning up the
waterways, meeting the climate change challenge, transitioning to a low-carbon future and
tackling the waste problem. The government also want to avail the opportunities that are
arising from the digital age. To make it sure, it is increasing the availability of the technology
and programs for people to obtain the required skills to operate it. The government is also
fostering innovation and encouraging the small start-ups to expand. Three policies are
discussed below that are recently implemented by the New Zealand government.
1. Auckland’s 10-year transport project and policies
In Auckland’s 10-year the projects and policies, investment in rail is the important focus
in the last budget and current budget. Rail is significantly contributing to the benefits for New
Zealanders’ wellbeing. This opens the opportunities of economic growth, reduces the
greenhouse gas emissions, reduces the traffic congestion and prevents the injuries and
accidents on the roads (Auckland Council, 2019).
A boosting fund amount that is equal to $1 billion is provided to support the
redevelopment of Kiwi Rail which includes $375 million for the manufacturing of new
wagons and locomotives, $331 million to reinvest in track and associated infrastructure and

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$35 million for the replacement of the ferries (The Beehive, 2019). The City Rail Link will
be capable of providing equivalent of 16 lanes of traffic in the peak times into the city. The
rail link is one of the most important investment in transport infrastructure in Auckland.
2. Tolaga Bay Innovation
Tolaga bay innovation was launched by the Minister of Employment, one of the best
policies of New Zealand which was responsible for taking the initiative to revive the
economic situation in Tolaga Bay area. The revival of the area is planned through
encouraging and promoting the success of grass roots business. The Tolaga Bay Charitable
Trust launched four new business in the end of April and expecting to launch four more
business in the future. The target is to build total 10 identified businesses in near future. This
will have a positive contribution towards the employment in the Tolaga Bay region. It is
expected that the employment will rise in that specific region. Additionally, the development
of Tolaga Bay as tourist destination was launched in April (Nel, & Stevenson, 2019).
The government’s approach towards supporting employment is visible by a drop of 4.2%
in the unemployment rate. The unemployment rate fell from 4.3% in the end of 2018 to 4.2%
in the end of financial year 2018-19. The wage has been grew 3.4% in the financial year
2018-19. Employment Minister Willie Jackson said that the government is successfully
maintaining the strong economy by the policies that supports labour and business (The
Beehive, 2019). The unemployment rate for Maori continued to track in the right direction
falling from 9.6% to 8.6% that means 5100 people are in paid employment in Maori. The
number of employed people rose 38200 from a year ago.

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3. Venture capital funding
There exist a gap in domestic capital markets that may slow down the growth of the firms
of New Zealand. Foreign venture capital is not filling these gap. So, the government decided
to make it stronger and deeper (Barkoczy, & Wilkinson, 2019).
The fund will be set up to fill the capital gap which is not filled by the foreign ventures
for New Zealand. The amount of the fund is fixed at $300 million. The forecasted
contribution will be continued with the additional amount of fund equal to $9.6 billion to the
Superfund for the next five years (The Beehive, 2019). The firms of New Zealand will be
expanded and thus the early phase of start-ups will also be expanded. All the funds will be
returned after 15 years, to the crown of fund superannuation.
Theoretical aspects of the policies
There are two types of policies which are fiscal policy and monetary policy. Fiscal
policy is mainly directed by the government and the monetary policy is directed by the
central bank.
Auckland’s 10-year transport project and policies
In the above section, investment in rail is a fiscal policy that means government has spent
on rail to improve the economic condition as it contributes a huge amount to the GDP. These
raises the consumer wealth which expands the GDP of that country and shifts the aggregate
supply curve to the right. These reduces the equilibrium price level. Thus the investment in
rail can be explained by the AD-AS model. In the figure 1, the short run aggregate supply
curve shifts from S2 to S1 which reduces the price level and increases the output.

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Figure 1: Rightward shift of aggregate supply
However, in the long run the aggregate supply curve shifts rightward and replicates the
same impact. The price level is falling and the output is rising.
Figure 2: Long run aggregate supply curve shifts rightward.

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In the below graph, the IS curve shifts rightward due to an additional in the rail. The
shift of the IS curve shows that the output level is rising and the interest rate is also rising.
These will lead the people to save more as the return from the saving will be higher.
Figure 3: Rightward shift of IS curve
Tolaga Bay Innovation:
The grass root business that means use of self-organization, contribution of
community members by taking responsibilities and actions for their community, are
encouraged by funding the investment. This is also a government expenditure that means a
fiscal policy. These incident can also be explained by the AD-AS model. These incident
raises the wages of the labour which raises the individual income and thus the aggregate
demand rises and the aggregate demand curve shifts rightward. Now, in the short run a
rightward shift in aggregate demand raises the output of the economy and thus the economy

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grows. If this policies are implemented all over the New Zealand, then there can arise an
inflationary situation too.
Figure 4: Rightward shift of the aggregate demand
The investment in the Tolaga Bay is the fiscal policy which shifts the IS curve
upward. This shows the change in output which increases from Yn to Y2. Similarly,
the interest rate also rises from i1 to i2.

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Figure 5: Rightward shift in IS curve
Phillips curve can explain the link between the inflation and the unemployment. The
below Philips curve shows that due to the reduction of short run unemployment rate, the
inflation rate is rising. Thus an inflationary situation may arise.
Figure 6: The Phillips Curve

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Venture capital funding
Filling the venture capital gap raises the number of start-ups. This raises the aggregate
production and thus the aggregate demand rises. This is nothing but an addition to capital
stock which is determined by the marginal productivity of the capital. This measures the
additional production by using one additional unit of capital remaining other factors constant.
This implies that the additional venture capital will raise the production which is shown in the
below diagram.
Figure 7: The shift in Short run aggregate supply curve.
The below diagram presents the shift in aggregate demand curve against the long run
aggregate supply curve. This indicates that if there is no shift in long run aggregate supply
curve there will be no change in output however the price level remains same.

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Figure 8: Long run aggregate demand curve
Figure 9: IS-LM model.
The above IS-LM model shows that the additional amount to the venture
capital by the government is influencing the IS curve to shift as the policy is fiscal policy. In

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this case, the IS curve shifts rightward and raises the output of the economy. This will again
raise the aggregate demand in the economy.
Impacts of the polices on the economy
The source of the government expenditure is tax, levies, fees, income from
investmena and the sales of goods and services. Tax revenue is the important and major
source of the expenditure. Now the objective of the taxation in New Zealand is progressive
tax and transfer system for individuals, promoting the sustainability and productivity and
treating all the income and assets in a fair and balanced way. In this condition, government
spending in rail will raise the GDP of the New Zealand. The budget of 2019 provides $405.5
million in order to cover the increasing crown’s share of forecast cost to build the Auckland
City Rail Link. The prior allocations are finalised for the project. It is expected that the rail
link will provide the service of extra 16 lanes of traffic during the peak times into the city and
the service consumer that means the number of people will be doubled within 30 minutes
travel. This will significantly improve the public service and will improve the transportation
within the city which will save the time and money of the consumer (Harle, & Moodie,
2018). Thus the productivity will be improved and there will be a huge contribution to the
national income. The government has seen the potential in the policy and already has
announced that the further funding will be provided in the Budget 2020.
The government expenditure towards supporting and encouraging the grass root
business shows the immediate impact in Tolaga Bay. The government is supporting the
people form the design and financial management by marketing the final product of the
businesses. Moreover, the government is expecting to transform the region in a tourism hub
which is going to raise the income level of the individuals residing in that area (Mintrom &
Thomas, 2019). This will improve the livelihood of the people of Tolaga Bay region. This
policy is going to help the people of New Zealand who are facing the similar kind of

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challenges by implementing the same. The individuals will get help to live and work from
where they belong. For this government is promoting and showcasing the goods and services
to the national and international audience.
Filling the venture capital supports the start-ups that means generation of innovation,
technology, new product and service line and the aggregate output. The large size start-ups
will well utilise the policy as the environment for the same is positive. The large size start-
ups will have larger production and thus the larger contribution to the GDP. There will be a
demand for the generated products and due to rise of aggregate demand there will be a rise in
production (Owen, North & Mac an Bhaird, 2019). Thus the equilibrium price level will be
impacted negatively. The development minister David Parker said that more start-ups in New
Zealand for longer will be kept by the help of the funds. The total funding is distributed in
two sections. One section is for New Zealand Superannuation fund for 2018 and 2022 and the
amount of funding is $240 million out of $300 million. The other section is for existing assets
of New Zealand Venture Investment Fund and the amount of funding is $60 million. The
major part of the venture investment is going to the superannuation. This will raise the
aggregate demand and the real output level in the economy.
Contribution of the Port to the GDP of New Zealand
The port of Tauranga is the cargo gateway to the world for New Zealand. This is the
largest port of the New Zealand. The exported goods are mainly dairy products, fresh meats,
log, swam timber, dairy foods, apples, fertilizers, cement, steel and agricultural products. The
port of Tauranga regularly exports to Brisbane, Sydney, Melbourne and Adelaide along with
USA and other countries (Pyvis & Tull, 2017). In the year 2013, the prime minister of New
Zealand officially introduced an important expansion of Tauranga Container Terminal. The
Minister of Conservation got recommendation from the High Court, to grant planning for the
dredging project and large ships. They estimated that the efficiency gains for the large ships

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will contribute 30-40% of the GDP for the export and import per year. This will raise the
export and import of the country (PORT OF TAURANGA, 2014). Port of Tauranga is able to
handle above 20 million tonnes of cargo in a single year. Moreover, 41% of the country’s
export is made through this port. 43% of the estimated GDP of Bay of Plenty comes from this
port. This is one of the reason behind the fastest growth of the economy in New Zealand and
the region is rising 7.7% in 2016. The estimate of the bulk cargoes including fertilizer, fuel
and logs were budgeted 11.7 million in the year 2017. The net profit calculated in the year
2018 was $96 million to $101 million whereas the data was $93.4 million for the year 2017.
The profit of the Port of Tauranga were 25% and the annual report depicts the important
contribution of the port in the regional area and in the national economy. The total revenue of
the port operation was $121.9 million and it was the double of the last 8 Years. According to
the annual report of 2016, the port of Tauranga contributed $159 million to the Tauranga
Catchment Economy. The port of Tauranga ranked 10th in contributing to the GDP of the
Tauranga Catchment Economy (PORT OF TAURANGA, 2018).
Theoretical concepts
The impact of the port on the economic indicators can be explained by economic
theories. The improvement of BOP can be figured out by observing a rise in export or fall in
import or both. The port of Tauranga is the gateway for international trade of the New
Zealand. This has a significant impact on the exports and imports and thus the port has a
significantly important influence on BOP of the country (Lattimore, 2013). The GDP of New
Zealand is also effected by the port as the GDP of a country accounts the net export. So,
through export and import port has the degrees of influence towards GDP. From the
aggregate demand and aggregate supply concept it has an influence on GDP and price level
(McCombie & Thirlwall, 2016). The port has influence on the aggregate demand and
aggregate supply as it has impact on export and import. The export raises the income and thus

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aggregate demand shifts rightward which raises the price level and the output of the
economy. The shift in aggregate demand raises the real output in the economy. Similarly, the
presence of port created a lot of job opportunities for the residents and they have income.
These also increases the aggregate demand and a rightward shift in aggregate demand can be
expected (Stockhammer, 2013).
Economic indicators analysing the implication of macro economy
The economic impact of the Port is equal to the amount of activity which is directly
attributable to the Port. This adds the core activity and the trade activity. Provided that much
of the facilitated trade through the Port will remain continue even if the Port did not exist by
instead using other ports, the impacts of a port will generally be smaller than its economic
role. The economic impact can be identified for the Bay of Plenty economy specifically, as
well as at the national level. The Bay of Plenty impact differs from the national impact in that
parts of the core activity that are dependent on the existence at the regional level, while not
being dependent at the national level.
The contribution of the port of Tauranga towards employment is very significant and
influential. The port influences 41.6% of the Bay of Plenty employment and 5.1% of the New
Zealand employment. It is found that the 2 out of 5 workers from the Bay of Plenty works in
a job role which is somehow related to the port activity (PORT OF TAURANGA, 2015). The
port of Tauranga has an important role in the water and rail sector in the TCE. This operates
in both Mount Mauganui and Sulphur Point in Tauranga as well as Metro port (PORT OF
TAURANGA, 2018). Now in Auckland the water transport is the largest employer in
comparison with rail with 90.6% compared to 9.4% share of the total employment sector.

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Figure 10: Phillips Curve
The port of Tauranga has significantly reduced the unemployment. From the above
figure of Philips curve, the reduction in unemployment raises the inflation in the short run.
So, the port might have the contribution towards the inflation in the economy of New
Zealand.
The BOP is the difference between export and import. If the export is greater than the
import then the BOP is in better situation. This also implies that the domestic currency is
appreciated as the flow of foreign currency into the domestic country is rising. Thus the
supply of foreign currency is grater and the foreign exchange is improved. The annual growth
rate of the port impacts the BOP by 7.7% and the New Zealand by 5%. Imports has increased
by 13.7% to 9 million tonnes and exports has increased by 8.2%. The export ends at 15.4
million tonnes for the year ended in June 2018 (PORT OF TAURANGA, 2018). The export
of the log has increased by 14.3% which is equal to 6.3 million tonnes. The export of swam
timber has also increased by 10.3% in volume. The export of dairy products has increased 4%
that equates with 2.3 million tonnes. The import of the dairy foods has increased by 18.2%

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and 16.5% of the export has increased for the fertiliser. This depicts the strong agricultural
sector. The Export of the frozen meat and apples is 11.3% and 20.9% respectively. The
increase in export of cement and steel is recorded as 18.9% and 25% respectively. This
indicates that the contribution of the port towards appreciation of exchange rate is significant.
The port of Tauranga opens up the opportunities of immigration and job which helps
to spur the growth of the population. The port of Tauranga is successful to attract the cruise
ship market during the summers of New Zealand. The annual report of 2006 records the data
which says that 27 cruise ships docked with 31815 passengers at the port. The spending by
the passengers and crew members along with the tourists was approximately 2.8 million in
the restaurant and bar sector only (PORT OF TAURANGA, 2014).
Impact of international economic changes on Port
The international economic changes implies that there are some changes with the
economic factors that has an influence in the international market. For example, if there is an
imposition of tariff on import or export then both the importing and exporting countries will
be effected. A tariff on import can reduce the demand for the imported good which will
reduce the use of the ports. Similarly, the subsidy on export will raise the demand for the
good in the foreign market and it will raise the use of ports to export goods. Here, a change in
international economy the ports will be the most affected. If there is an imposition of tax on
the import in a country with which New Zealand involves in trade, then there will be a less
export from the New Zealand. As a result the port will face a loss as the port will not be able
to utilise its full capacity (Kelsey, 2015). Similarly, the opposite impact will be seen for the
subsidies. There are few more factors like ban on visa from a specific country then the people
of that country will not be able to visit the country. If this happens in the Bay of Plenty then
there will be less number of tourists and will reduce the revenue of the port.

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Conclusion
The study has selected three research policies from the New Zealand’s current
economic policies which has significant impact on macro economy of New Zealand. One of
the important policy is to invest in rail. This will improve the productivity and will be a huge
contribution to the income level. The expected success of the policy forced the government to
announce the further funding which will be in the Budget 2020. New Zealand has taken the
initiative to revive the economic situation in Tolaga Bay area. The rival of the area is planned
through encouraging and promoting the success of grass roots business. Additionally, the
development of Tolaga Bay as tourist destination was launched in April. Under this policy
the Tolaga Bay Charitable Trust introduce four new business in the end of April and
expecting to launch four more business and 10 in total identified business in the near future.
The government has decided to make the capital venture stronger and deeper by removing the
existing gap in domestic capital markets. The fund is generated to fill the gap and this
influenced the large size start-ups that can utilise the policy. The large size start-ups have
larger production and thus the larger contribution to the GDP. This will raise the aggregate
demand and will reduce the price level.
The port of Tauranga contributed $159 million to the Tauranga Catchment Economy
and if it is considered as a sector then it would have ranked 10th in contributing to the GDP of
the Tauranga Catchment Economy (Pyvis & Tull, 2017)). The port has a significant influence
on the employment and it influences 41.6% of the Bay of Plenty employment and 5.1% of the
New Zealand employment. It is found that the 2 out of 5 workers from the Bay of Plenty
works in a job role which is somehow related to the port activity. This generates income for
the residents of Bay of Plenty which in turn raises the aggregate demand and the right shift of
aggregate demand shows a rise in real output in the economy. Imports has increased by
13.7% to 9 million tonnes and exports has increased by 8.2%. The export ends at 15.4 million

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tonnes for the year ended in June 2018. Thus the port has an influence on import and export
and relates to the BOP of the New Zealand. The port of Tauranga opens up the opportunities
of immigration and job which helps to spur the growth of the population. It is successful to
attract the cruise ship market during the summers of New Zealand. This generates additional
income through tourism. In 2016, it is recorded that only the restaurant and bars have earned
approximately earned 2.8 million form the tourists. Thus the port has a wider and deeper
impact on the economy of New Zealand.

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