A Budget to Manage Downturn, Not Lock-In Growth
19 May 2005
A Budget to Manage a Downturn, Not Lock-In a High Growth Economy
The Government had a choice with its Budget – to take decisions to maintain the high growth rates of recent years, but instead they have produced a Budget that recognizes a slowing economy and lots of adjustments have been made in that light.
“This is not the prescription to lock in a high growth, high income economy, said Michael Barnett, Chief Executive of the Auckland Chamber of Commerce.
As well as the social handouts, the winners from this Budget will be the small medium enterprises who benefit from a package of small changes.