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

 

Accelerated Expenditure will Boost Economy

Accelerated Infrastructure Expenditure will Boost Economy

The Wellington Regional Chamber of Commerce has welcomed the government’s plans to accelerate infrastructure expenditure as part of its response to the economic crisis.

“This is a unique opportunity to reduce the country’s infrastructure deficit. It is also an excellent way to provide fiscal stimulus without jeopardising the government’s fiscal position in the longer term,” said Chamber CEO Charles Finny.

“We are pleased that the projects announced have been approved on their merits and were programmed to occur in later years anyway. However there will be a need to reduce expenditure in the medium term to offset the current boost and to return government debt to sustainable levels.

“We are particularly pleased that Muldoon’s Corner is on the list of state highway work to be accelerated. This is an important stretch of road for the lower North Island and is on the list of accelerated expenditure priorities that we have been pushing. It will be welcomed particularly by commercial users. There is not enough room for two trucks to traverse this stretch of road at the same time.

“We hope that Wellington will get its share of accelerated projects in the second wave of infrastructure projects to come.

“While we also support increased investment in public transport, the reality is such expenditure is not as stimulatory as road building. We therefore agree fully with the emphasis of the government announcement,” Mr Finny concluded.


ENDS

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Quake Insurance: Reforms To EQC Act Announced

· Increasing the monetary cap from $100,000 (plus GST) to $150,000 (plus GST) for EQC building cover.
· Clarifying EQC land cover is for natural disaster damage that directly affects the insured residence or access to it... More>>

ALSO:

Reserve Bank: Official Cash Rate Unchanged At 1.75 Percent

Global economic growth has increased and become more broad-based. However, major challenges remain with on-going surplus capacity and extensive political uncertainty... More>>

Kaikōura Earthquake: Private Insurers Receive $1.8b Claims

Insurance Council Chief Executive Tim Grafton said most is for commercial loss at $1.36 billion, with residential claims amounting to over $460 million. “...We have a high level of confidence that most people will have received settlement offers by the end of this year." More>>

ALSO:

Forms And Data: New Proposals To Simplify Personal Income Tax

The Government is proposing to make tax simpler for individuals, with people whose only income is from a salary, wages or investments no longer being required to file tax returns to receive tax refunds or to calculate any additional tax. More>>

OECD: NZ Economic Expansion Faces Long Term Challenges

The OECD Economic Survey of New Zealand discusses the gap between the strong short-term outlook and long-term challenges posed by low productivity growth and a changing labour market. More>>

ALSO:

GDP: