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Budget Addresses New Zealand’s Present Needs

Budget Addresses New Zealand’s Present Needs - But Tax And Spend Cannot Remain The Order Of The Day

“Many of the new spending areas outlined in Dr Cullen’s fifth budget this afternoon are necessary and desirable” said Chamber CEO Philip Lewin today.

“We have long said that two of the most critical needs for New Zealand’s economic future are a better performance by our exporters, and a sharp improvement in standards and delivery of education and industry skills training. Over time, today’s Budget should make a difference for the better on both these fronts.”

“Chambers of Commerce in New Zealand see themselves as “business in the community”. We have no problem with greater assistance to those lower income New Zealanders genuinely in need. However, we want the Government to provide comparable assistance across the board. ‘

“Our members – overwhelmingly small and medium sized businesses - also need a helping hand. By this we don’t mean handouts, subsidies, corporate welfare etc – but lower company and personal tax rates, and a redoubled attack on the many regulatory burdens weighing them down in their day to day business lives.”

“Last year the New Zealand Chambers of Commerce laid out five key growth policy priorities if New Zealand is to maintain 4% plus economic growth over the next 15 years. In doing so, we showed why Government expenditure should grow no more than 1%, in contrast to the wider economy’s 4% growth”.

“Clearly, the extensive and numerous spending programmes confirmed by Dr Cullen this afternoon go way beyond that 1% threshold. Chambers say that this has to be a “oncer”- and that kiwi businesses – our members - must now be allowed to generate that necessary wealth going forward, to lift New Zealand back up where we belong” concluded Mr Lewin.

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