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

 

Climate Summary: NZ’s Equal-2nd Warmest Year On Record

Annual temperatures were above average (+0.51°C to +1.20°C above the annual average) across the majority of New Zealand... 2018 was the equal 2nd-warmest year on record for New Zealand, based on NIWA’s seven-station series which began in 1909. More>>

ALSO:

GDP: Economic Growth Dampens In The September Quarter

Gross domestic product (GDP) rose 0.3 percent in the September 2018 quarter, down from 1.0 percent in the previous quarter, Stats NZ said today... GDP per capita was flat in the September 2018 quarter, following an increase of 0.5 percent in the June 2018 quarter. More>>

ALSO:

Up $1.20: $17.70 Minimum Wage For 2019

Coalition Government signals how it will move toward its goal of a $20 p/h minimum wage by 2021... “Today we are announcing that the minimum wage will increase to $17.70 an hour on 1 April 2019." More>>

ALSO:

Retail: IKEA To Open In New Zealand

Inter IKEA Systems B.V. is today announcing its intentions to grant the Ingka Group exclusive rights to explore expansion opportunities in New Zealand. More>>