Press Release – Wellington Employers’ Chamber of Commerce
Today’s restrained Budget is exactly what New Zealand needs to cement-in the economic gains of the past few years, says Wellington Employers’ Chamber of Commerce Chief Executive Raewyn Bleakley.
“This Budget will build on the platform of a return to strong and sustainable growth. The economy is on the right track, and the forecast $372 million surplus and growth of between 2% and 4% over the next four years, shows that the pain and restraint of recent times will have been worth it.
“The prospect of more jobs, higher wages, and even tax cuts further down the track will be welcomed across the economy.
“Business will welcome the boost for research and development, particularly the tax breaks for loss-making start-ups and tax deductibility for ‘black hole’ expenditure.
“These are the type of things that will help drive sectors such as Wellington’s innovative ICT industry, and that’s exactly what this country needs.
“The boost for tertiary education and research in science, agriculture, training, and initiatives will likewise help to further feed much-needed skills into business.
“We are also are pleased to see the already announced $69 million to expand NZTE’s presence in China, South America and the Middle East, supporting businesses to establish their presence in these international markets.
“Overall this is a sensible, careful and responsible budget providing confidence for businesses.”