2 February 2012

Treasury briefing sound and orthodox advice

Treasury’s briefing to the incoming Government is well focused on restoring the economy to growth, says BusinessNZ.

The briefing released today calls for policy improvements across many areas including lower taxes, better state services delivery, simpler benefit systems, superannuation reform, the reintroduction of interest on student loans, and more focus on growth and development under the Resource Management Act.

BusinessNZ Chief Executive Phil O’Reilly said the Treasury work was sound and orthodox, and consistent with BusinessNZ’s own recommendations to Government prior to and following the last election.

“Treasury’s recommendations recognise that economic growth must be led by the private sector. Science and innovation, for example, must be focused on company-led R&D and commercialisation.

“And reducing the short term costs of the Emissions Trading Scheme will reduce competitiveness risks to New Zealand businesses thereby improving their ability to create export-led growth.

“Business would agree with most if not all of this advice.

“It is to be hoped that the Government will take its lead from the Treasury analysis and execute policy that builds economic strength.”

ENDS

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