ACT Finance spokesman Rodney Hide said today New Zealand's deterioration in Balance of Payments dramatised the need for pro-business and pro-jobs economic policy.

"It's business that creates the wealth and provides the jobs. For too long government policy has been hostile to needs of business and the needs of job-seekers.

"The Balance of Payments problem simply reflects the failure to run a consistent pro-growth, pro-jobs economic policy. The government should be putting up a programme of tax cuts to take the top rate down to twenty cents and be moving fast to eliminate the unnecessary red-tape that is tying business up in knots. The government has failed to ensure a competitive business environment.

"The last thing we need is Labour and Alliance tax and spend economic policies that will see the export of investment and jobs quickly to Australia and other countries that know business is the key to economic success," said Rodney Hide.

ENDS

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