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


Government spending key issue

17 October 2005

Government spending key issue

The business sector will be keeping a close eye on the emerging shape of the new Government, says Business NZ's Phil O'Reilly.

Mr O'Reilly says he is encouraged by the Prime Minister's statement that the Growth & Innovation work will continue, with particular emphasis on productivity.

"Both business and unions have invested significantly in this work programme and will want to se it bear fruit.

"There are also encouraging signs in the announced review of company tax that is the result of representations by both New Zealand First and United Future, and the review of the carbon tax policy driven by New Zealand First.

"But business will be concerned about the costs of the policy concessions awarded as well as the pre election promises made by Labour. Pre-election promises by Labour and New Zealand First totalled more than $7.5 billion over the next three years. We will need to see the fine print on policy costs, as a high-spending Government is bad news for business and economic growth."


© Scoop Media

Business Headlines | Sci-Tech Headlines


Primary Sector Council Report: Vision To Unite The Primary Sector Launched

Agriculture Minister Damien O’Connor has welcomed the release of a bold new vision for the country’s vital food and fibre sector. More>>


Crown Accounts: Treasury HYEFU Sees Deficit Then Rising Surpluses

An operating balance before gains and losses deficit of $0.9 billion is forecast in the current year, before returning to a small surplus in 2020/21 which then grows to reach $5.9 billion (1.5% of GDP) in 2023/24. More>>


Fuels Rushing In: Govt "Ready To Act" On Petrol Market Report

The Government will now take the Commerce Commission’s recommendations to Cabinet...
• A more transparent wholesale pricing regime • Greater contractual freedoms and fairer terms • Introducing an enforceable industry code of conduct • Improve transparency of premium grade fuel pricing... More>>


Reserve Bank Capital Review Decision: Increased Bank Capital Requirements

Governor Adrian Orr said the decisions to increase capital requirements are about making the banking system safer for all New Zealanders, and will ensure bank owners have a meaningful stake in their businesses. More>>