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Business confidence remains in the doldrums

Slumping business confidence under a Government with no plans for growth has continued into 2020, National’s Finance spokesperson Paul Goldsmith says.

“A new business confidence survey shows confidence remains at some of the lowest levels this country has seen. According NZIER, the most reputable Business Confidence survey, confidence is at -26.

“Even though this is a slight improvement on the last survey, the figures are still as low as 2009. This is at a time when we are enjoying record high terms of trade and should be doing well.

“This result also doesn’t take into account the effects of the upcoming minimum wage increase. The April increase will be crippling for many small and medium sized businesses.

“More than two years in this Government has done nothing to reassure businesses. It’s crippled investment by introducing more than 300 working groups, introducing union friendly industrial laws, banning oil and gas exploration and wasting billions of dollars on the failed fees-free policy and Shane Jones’ slush fund.

“If Grant Robertson is looking for a New Year’s resolution, he should think about doing more to support Kiwi businesses and turning around these dismal results.

“National will restore confidence and revive the economy by reducing taxes, encouraging the flow of investment, removing unnecessary regulations and increasing the flexibility in our labour markets.”

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