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

 

Budget 2018 and business

BusinessNZ Chief Executive Kirk Hope said some of the big ticket items in the Budget would help support business growth.

"An investment of $28 billion over 10 years in Auckland transport will improve infrastructure in our largest city, helping support the ability of business to grow and employ more.

"Large investments, in the Provincial Growth Fund and the Green Investment Fund, will also support the ability of businesses to grow and innovate using new technologies.

"And the establishment of an R&D tax credit will boost the support available to businesses that need to invest in innovation to become more competitive."

Mr Hope said other spending, including $3.9 million to counter major cyber threats or events, was well-placed to address business vulnerabilities such as cybercrime.

He said other spending items were less obviously positive for business.

"The Budget allows full tax deductibility for racing industry bloodstock. Full capital tax deductibility helps to increase investment in technology, capital and grow productivity, which is important for all businesses. Business believes capital deductibility should be available to all businesses and industries, not just racing.

"The Budget also announces a new unit to oversee councils’ consistency of compliance with the Resource Management Act. This may help address some of the RMA’s problems, however council inconsistency is not the only or most significant problem with the RMA. Business continues to seek fundamental reform to this Act rather than a new compliance unit or other marginal changes."

ENDS




© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Reserve Bank Holds Rate: Dollar Jumps As Potential Hike Wrong-Foots Traders

The New Zealand dollar jumped just over one US cent after the Reserve Bank's bias towards eventually hiking interest rates - rather than cutting them - wrong-footed traders who were more wary about global risks. More>>

ALSO:

Dolphins, Albatross, And... Four Endangered Sea Lions Dead In Nets In One Week

Forest and Bird: Four endangered NZ sea lions have been killed in commercial fishing nets in one week, making this the third day in a row endangered animals have been confirmed dead at the hands of the commercial fishing industry. More>>

ALSO:

Solar: Falling Battery Costs May Outstrip Transpower Projections

Falling solar and battery costs may already have overtaken prices assumed in Transpower’s latest modelling of the future power system, the Sustainable Energy Association of New Zealand says. More>>

ALSO:

Dire Deals: SAFE Salutes Short Shrift For Saudi Sheep

SAFE applauds the Government’s decision to cancel the controversial Saudi sheep deal, a plan by the previous Government which was to include a $10 million slaughterhouse in the Saudi desert. More>>

ALSO:

Nelson Fires: Extended Emergency

A combination of benign weather and outstanding fire management has seen the risk posed by the Pigeon Valley fire significantly reduced for some areas. More>>

ALSO: