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Awful business confidence needs to be met by tax cuts

1 OCTOBER 2019


With continued awful business confidence from NZIER, the Government needs to take a new approach, says the New Zealand Taxpayers’ Union.

Taxpayers’ Union spokesman Louis Houlbrooke says, “NZIER is now suggesting annual economic growth could fall below 1 percent later this year. That would be an awful result – after accounting for population growth New Zealanders would almost certainly be going backwards. The Government’s current approach has been a huge failure and a new approach is needed. Tax relief for workers and businesses would put some heat into the economy and encourage growth and investment.”

“Tax relief in particular would be effective because, unlike big Government projects like KiwiBuild, it takes effect very quickly. With the economy deteriorating so quickly, speed is essential.”

ENDS


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