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


Envy at Australian tax-cutting budget

Wednesday 10 May 2006

Media Release
Newmarket Business Association

Australian tax-cutting budget makes local business green with envy

"Across the board tax cuts in Australia will probably mean less Australian investment in New Zealand and more New Zealanders moving to Australia. It's a lose lose for leading commercial districts like ours, busy trying to recruit investment and human capital," said Cameron Brewer, head of the Newmarket Business Association.

"My 1,500 commercial members, who are up to their eyeballs in costs not to mention staring down the barrel of a congestion charge, will be green with envy upon hearing about the latest Australian budget.

"Sadly it's harder and harder to do business in New Zealand. One instant lift would be universal tax cuts as has been budgeted across the Tasman.

"Across the board tax relief would make a huge difference to the ongoing success of commercial centres like Newmarket. It would lift businesses' margins, fatten consumers' back-pockets, and lift confidence all round.

"And it's not as though our Government can't afford it. Just last week Treasury posted a $9.4 billion operating surplus for the first nine months of the current financial year.

"It's a tough and uncertain environment out there for both the consumer and business. Tax relief should also be the benchmark for Dr Cullen's forthcoming budget. The conditions are perfect - the Government has the cash and the business community needs the confidence boost ," said Mr Brewer.


© Scoop Media

Business Headlines | Sci-Tech Headlines


Watch This Space: Mahia Rocket Lab Launch Site Officially Opened

Economic Development Minster Steven Joyce today opened New Zealand’s first orbital launch site, Rocket Lab Launch Complex 1, on the Mahia Peninsula on the North Island’s east coast. More>>


Marketing Rocks!
Ig Nobel Award Winners Assess The Personality Of Rocks

A Massey University marketing lecturer has received the 2016 Ig Nobel Prize for economics for a research project that asked university students to describe the “brand personalities” of three rocks. More>>


Nurofen Promotion: Reckitt Benckiser To Plead Guilty To Misleading Ads

Reckitt Benckiser (New Zealand) intends to plead guilty to charges of misleading consumers over the way it promoted a range of Nurofen products, the Commerce Commission says. More>>


Half A Billion Accounts, Including Xtra: Yahoo Confirms Huge Data Breach

The account information may have included names, email addresses, telephone numbers, dates of birth, hashed passwords (the vast majority with bcrypt) and, in some cases, encrypted or unencrypted security questions and answers. More>>


Rural Branches: Westpac To Close 19 Branches, ANZ Looks At 7

Westpac confirms it will close nineteen branches across the country; ANZ closes its Ngaruawahia branch and is consulting on plans to close six more branches; The bank workers union says many of its members are nervous about their futures and asking ... More>>

Interest Rates: RBNZ's Wheeler Keeps OCR At 2%

Reserve Bank governor Graeme Wheeler kept the official cash rate at 2 percent and said more easing will be needed to get inflation back within the target band. More>>


Get More From Scoop

Search Scoop  
Powered by Vodafone
NZ independent news