Budget Responsible but Lacking Vision

The Government’s 2015 Budget provides New Zealand businesses with financial certainty, and tackles a number of politically sensitive issues, but fails to deliver on some of the big issues facing the country says the Employers and Manufacturers Association (EMA).

EMA Chief Executive Kim Campbell says Finance Minister, Bill English, has once again delivered a Budget that is fiscally responsible.

“The Government should be congratulated for once again offering New Zealand businesses certainty. We can also understand the need to address some of the current issues such as the Auckland housing crisis, ACC and some regional R&D support.

“However, what’s missing is a vision of how the Government is going to achieve its own goals of diversifying the economy through R&D investment and providing sustainable growth through exports.

“These goals are critical to solving two of the big issues facing the country – regional development and infrastructure investment.

“New Zealand is increasingly becoming a two-speed economy, given the Auckland boom and the Christchurch rebuild, while a large portion of the rest of the country languishes with low or no growth,” he said.

The EMA says that if these issues are not effectively addressed there is little or no chance of meeting the targets with respect to the growth of exports and the diversification of the economy.

ENDS

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