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Surge in Aust business confidence a warning to NZ

Don Brash MP National Party Leader

17 May 2006

Surge in Aust business confidence a warning to NZ

The surge in Australian business confidence following the $45 billion tax cuts in the latest Australian Budget is a warning to Labour that its policies are heading in the wrong direction, says National Party Leader Don Brash.

Dr Brash is responding to the National Australia Bank's latest business confidence survey, which shows that optimism among 350 businesses has doubled compared with a survey taken before the Australian Budget.

"Michael Cullen should be hanging his head in shame as he prepares to deliver his Budget tomorrow afternoon," says Dr Brash.

"This Labour Government has already ruled out tax cuts. National wants the right incentives put into the economy for people to get ahead under their own steam.

"Sadly, tomorrow's Budget will be significant for what's not in it. Tax cuts should be top of Labour's agenda. Instead, redistribution of the existing cake will be the order of the day, rather than growing the cake.

"Australia's latest tax cuts - the fourth such cuts in as many years - are a raid on New Zealand's skilled workforce.

"The fact that business confidence in Australia has doubled simply shows that they are set to march further ahead, leaving New Zealand even more in their wake," says Dr Brash.


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