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Small Business Policy Launch

08 September 2005
Media Release

Small Business Policy Launch

Labour Small Business Spokesperson, Rick Barker and IT and Associate Revenue spokesperson David Cunliffe, today released Labour's small business policy today.

"Small businesses are the backbone of the New Zealand economy. They have contributed 60% of job all growth since 1999, that deserves recognition." said Rick Barker and David Cunliffe.

Small and Medium Sized Businesses have flourished under the Labour led government. They have contributed more than a third of the nation's output over the past five years and have created over 131,000 new jobs.

"We have worked hard to reduce compliance costs and are continuing that work. The World Bank has rated us first in the world for ease of doing business in its Doing Business in 2005 report." said Rick Barker and David Cunliffe.

"We have eliminated 139 compliance costs. The Ministerial Panel on Compliance Costs reported that this government has made significant inroads in reducing the number and impact of compliance costs. We also established the Small Business Advisory Groups to give business a voice and provide advice to government." said Mr Barker.

"Our policy supports small business to continue on the path of success that has been carved out over the past 5 years. It supports the small business operator by continuing to reduce compliance costs, invest in up-skilling, and make engaging with government easier and less frequent" said Mr Barker.

This year's budget contained a $1.42 billion business tax relief package. This included new asset depreciation rates to encourage capital investment, changes to the treatment of R&D expenditure to encourage innovation, and an improved fringe benefit tax regime, aligning provisional tax payments with current cash flows, and simplifying PAYE and ACC paperwork through payroll agents.

"These changes were about targeting tax relief to encourage innovation and investment and reducing compliance costs" said David Cunliffe.

Labour's focus for a next term in government will be:

- Continuing to reduce regulatory burden
- Investing more in modern apprentices and industry training
- Continuing to ease transactions between business and government
- Continuing to enhance two-way communication between business and government
- Developing opportunities for youth enterprise skill development
- Undertaking research that will enable government to better identify and address the needs of small business

"We will continue to do what we have done, because what we have done works." said Mr Barker.

"In order to grow, businesses need strong public services and continued investment in education, industry training and infrastructure so they can get the skills they need and can get their products to market. They know a Labour led government is the only one that will provide this." said Rick Barker and David Cunliffe.


ENDS

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