Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

Budget Recognises Need For Vision

24 May 2001

Budget Recognises Need For Vision - But Sets Sights Too Low

Business NZ President Doug Marsh said today's Budget recognised a key issue for business - the need for an economic vision.

'We are pleased the Government has heeded Business NZ's call, in today announcing a positive OECD ranking as a target. Setting the target of gaining a place in the top half of OECD nations is a useful step in the right direction - but we believe the Government has set its sights too low.

"A better target is that which motivates Business NZ - that of reaching the top ten of OECD nations for GDP per capita.

"Reaching that target would require taxes and compliance costs to be lowered, and would require New Zealanders to totally embrace an enterprise culture. Regrettably, in the country's wider interest and for business, measures to promote these were absent from the 2001 Budget.

"While business will welcome the careful, conservative fiscal approach in this Budget, more is needed. The government has begun to outline a growth strategy, but sets too timid a goal. Our economic future should not be approached timidly," Mr Marsh said.

Ends


© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Wainui: Major Infrastructure Partnership For North Auckland

Minister of Housing and Urban Development Phil Twyford and Auckland Mayor Phil Goff today announced a partnership that will fund $91 million of roading and wastewater infrastructure to support the building of 9000 homes... More>>

ALSO:

NZ's Space Programme: Rocket Lab Reaches Orbit Again

Rocket Lab has continued the success of its 2018 orbital launch program with the launch of seven payloads to orbit. The mission marks Rocket Lab’s second successful orbital launch and deployment of customer satellites. More>>

ALSO:

Supreme Court: Labelling Swamp Kauri Slab A Tabletop Doesn't Make It One

New Zealand's highest court has ruled that exporting slabs of swamp kauri as "tabletops" or swamp kauri logs as "totem or temple poles" is illegal under the Forests Act. More>>

ALSO:

Starting Ending Offshore Drilling: Green Party Celebrate Passing Of Oil And Gas Bill

“This Bill is an essential first step in winding down offshore exploration for new sources of fossil fuels. We are in Government together to do this work, to create the change our people and our planet need to flourish." More>>

ALSO:

Reserve Bank: Official Cash Rate Unchanged

The Official Cash Rate (OCR) remains at 1.75 percent. We expect to keep the OCR at this level through 2019 and into 2020. More>>