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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."

ENDS

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