The Taxpayers’ Union says Christopher Luxon’s State of the Nation speech on the economy strikes, but misses the mark, with no announcements that will increase New Zealand’s productivity or unshackle the private sector that drives growth.

Taxpayers' Union Spokesman, Jordan Williams, said “the speech was more about feels and repeating old announcements than concrete policy changes to improve New Zealand’s prosperity.”

“The only exception is, bizarrely, another government agency, apparently to attract foreign investors.”

“The speech represents shifting deck chairs, not the sort of economic reform the times call for.”

“People don’t invest in a country because a government agency tells them to. Claims that this model is seen in Ireland or Singapore are fantasy. Investors in those countries don’t have among the highest corporate tax rates in the developed world. Today’s speech would have meant something had it tackled our tax settings or securities law which make investing here so unattractive.”

“New Zealand’s lack of foreign investment isn’t because of a lack of bureaucrats. It’s because we don’t offer competitive investments. Today’s speech lacks the seriousness or urgency in ‘going for growth’.”

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