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Lack Of Economic Plan Driving Business Confidence Down Further

The Government’s poor economic management and lack of plan has once again driven down business confidence, National’s Small Business spokesperson Todd McClay says.

“Today’s ANZ Business Outlook survey shows business confidence dropped six points in February and confirms that this Labour, Greens and NZ First government have no plan for the economy and no plans to lift productivity.

“Instead of supporting the businesses that keep our economy growing, this Government is removing flexibility from the workplace, raising costs, increasing taxes and adding more regulation.

“The Government is trying to blame the slowdown of the economy on international events. The reality is that the economy was slowing well before coronavirus and business confidence has been at record low levels since Labour, the Greens and NZ First started rolling obstructive, anti-business policies.

“This filters down to small businesses who say they are already facing major barriers thanks to this Government’s poor policy making. It puts more pressure on employers, reducing employment opportunities and raising costs for ordinary New Zealanders.

“National will do what it takes to support Kiwi businesses to get ahead by reducing regulation and lower the tax burden on small businesses.

“We’ll start a regulations bonfire and focus relentlessly on lowering costs for business, including abolishing the regional fuel tax and indexing tax brackets.

“Around 97 per cent of New Zealand businesses are small businesses employing twenty employees or fewer. These are often businesses are run by Kiwi mums and dads and provide vital services to their local communities.

“Only National will actually do what’s needed to reduce barriers for these businesses.”

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