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

 


Government spending not as efficient as tax cuts

Media statement Thursday, May 18th, 2006

Government spending not as efficient as tax cuts

The economic transformation that the budget is heading us toward will make New Zealanders increasingly reliant on the state, and less likely to take responsibility for themselves, or for saving and investing for their own future.

That was the response of the Employers &Manufacturers Association (Northern) to the budget today.

“Dr Cullen is not demonstrating any entrepreneurial streak,” said Alasdair Thompson, EMA’s chief executive.

“Aside from the $800 million over five years for meeting Transit’s funding gap, the balance of today’s budget is at the expense of tax cuts,” he said.

“We are very pleased to see the guarantee of funding for roads, and the bonds issue of $1 billion of debt funding to connect up our transport networks. We have been arguing for just such a commonsense approach as this for the past six years.

“But the other budget spending is at the expense of cutting taxes which would be a more efficient and faster route to economic transformation resulting in the ‘flexibility and adaptiveness’sought by Dr Cullen.

“To pay for the budget’s spending, taxes are locked in at their current levels, removing the opportunity for personal savings and for individuals to invest on their own behalf.

“Business welcomes the added investment in modern apprentices and other programmes to boost kiwi’s skills, as well as more funding for exporters and R&D, we doubt it will slow down kiwis heading across the Tasman in search of higher paid, lower taxed jobs.”

ENDS

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

I Sing The Highway Electric: Charge Net NZ To Connect New Zealand

BMW is turning Middle Earth electric after today announcing a substantial contribution to the charging network Charge Net NZ. This landmark partnership will enable Kiwis to drive their electric vehicles (EVs) right across New Zealand through the installation of a fast charging highway stretching from Kaitaia to Invercargill. More>>

ALSO:

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>>

Earlier:

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>>

ALSO:

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>>

ALSO:

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>>

ALSO:

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>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news