With ANZ Business Confidence falling to its lowest level since the Global Financial Crisis, the Government needs to strongly pursue a new approach, says the New Zealand Taxpayers’ Union.

Taxpayers’ Union Economist Joe Ascroft says, “Global trade turmoil and geopolitical tension in Hong Kong, Europe, and Iran is clearly putting some pressure on business confidence. The Government can’t fix those problems, but it can take steps at home to insulate households from some of the international pressure. Tax relief for workers and businesses would be a good start.”

“Higher taxes, more regulation, and big clumsy Government-led projects like KiwiBuild would be a poor approach to a weakening economy. The best solution is to let employees and businesses keep more of what they earn to save and invest.”

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