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Budget Priorities Supported By Business
Continued R&D support and substantial infrastructure investment will figure in the 2025 Budget.
These were among the Budget priorities outlined by the Prime Minister at BusinessNZ’s Pre-Budget lunch in Auckland today.
The business audience reacted positively to news of continued Budget provision for the R&D tax incentive (RDTI) that supports innovation investment by firms, and to other investment in science and innovation including the establishment of three new public research organisations.
Plans to boost spending on pro-growth infrastructure were also well received.
BusinessNZ Chief Executive Katherine Rich says there is a general understanding in the business community that fiscal discipline by the Government is paramount, given the economic conditions it inherited.
"There is good support for the Government keeping a tight rein on borrowing and spending, and for investing in growth.
"The Government’s plans for encouraging science and technology, introducing more competitive business settings, promoting investment, and delivering infrastructure for growth, demonstrate a prudent approach to economic management," Mrs Rich said.
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