Some Promises Don't Get Delivered
The Government's announcement on modifications to the R & D expensing regime will not enhance New Zealand's competitiveness with its trading partners, especially Australia, said Simon Carlaw, Chief Executive of the New Zealand Manufacturers Federation. He was commenting on the decision to align R & D tax and accounting treatments that would stop well short of the Government's earlier promises to provide for 100% expensing of R & D.
A knowledge economy will not occur by itself. It will take more than a small package of timid measures to transform the economy and to generate sustained growth at the pace New Zealand requires if it is ever to rejoin the top twenty in the OECD.