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

 

Plummeting business confidence shows need for tax cuts

With NZIER’s quarterly survey showing a further deterioration in business confidence, the Government needs to commit to cutting taxes, says the New Zealand Taxpayers’ Union.

Taxpayers’ Union spokesperson Louis Houlbrooke says “Unless the Government changes its approach to economic policy, the economy is going to come off the boil, unemployment will creep up and the Government will miss its Budget Responsibility Rules debt targets. This isn’t a computer game or a thought experiment – this is a real economy with jobs and livelihoods at stake.”

“Businesses are facing years of significant minimum wage hikes, changes to labour law, and the prospect that – like the oil and gas industry – the Government may regulate them out of existence. Meanwhile, the headline business and personal income tax rates haven’t fallen in eight years. It’s no surprise that confidence in the economy is falling.”

“While the Prime Minister is no fan of President Donald Trump, she must surely appreciate the stimulus effect his recent tax package produced. Her Government should put a rocket under the economy and real wage growth by replicating his domestic tax policies here.”


© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Disasters And Insurance: NZ Ranked 2nd Riskiest Country

New Zealand is ranked as the second riskiest country in the world in a major international study released by Lloyd’s of London. The report looks at non-life underinsurance and insurance penetration data for 43 countries. More>>

Forest And Bird: Landmark Court Decision Protects Reserves From Mining

The Court of Appeal found that the Council cannot enter into an access arrangement that is incompatible with the primary purpose of the reserve and had to protect the natural and biological features of the reserve. More>>

ALSO:

Retail: International Websites To Pay GST

New rules would be aimed at imported goods valued at or below $1,000. Customs would retain responsibility for collecting GST on imported parcels valued more than $1,000. More>>

ALSO:

High-Level Advice: PM’s Business Advisory Council Membership Announced

The Prime Minister’s Business Advisory Council brings together a mix of experts, six women and seven men with small to large business experience, from across New Zealand, to provide advice. More>>

ALSO:

Improving: Report Shows New Zealand Air Quality 'Good'

Our air 2018, produced by the Ministry for the Environment and Stats NZ, shows that while some previously known issues persist, progress has been made and levels of some pollutants are declining. More>>

ALSO:

Greenpeace: Govt Extends OMV Exploration Permit

The Government has just granted oil giant OMV a two-year extension to drill in the Great South Basin, despite issuing a ban on new oil and gas exploration permits in April. More>>

ALSO: