NZCCI Congratulates the New Government

10 November 2008

NZCCI Congratulates the New Government

The New Zealand Chambers of Commerce congratulates the new government on its election victory and looks forward to working with it over the next three years.

“The new government faces some distinct challenges in the face of the global financial crisis and it is important that it works closely with the business sector,” said NZCCI Director Charles Finny.

“Increased economic growth through higher producivity is the key to surviving the crisis.

“NZCCI urges a package of tax cuts supported by reductions in government expenditure. This would help improve liquidity as well as provide a platform for economic growth.

“There is a need to undertake an immediate review of the ETS. Reform of local government is also essential in the medium term.

“NZCCI will be contacting all new MPs in the near future and inviting them to discuss the set of policies which the Chamber produced earlier in the year as part of its Election Manifesto.

Specific policy proposals in the manifesto include:

- a review of all government spending with a view to eliminating waste
- a reduction in the top personal tax rate be a priority as part of the next round of tax cuts and the implementation of a flatter tax structure
- increased infrastructure investment including the use of more private sector
- investment including public private partnerships (PPPs)
- establishment of a Productivity Commission
- remove restrictions on thermal electricity generation
- a review of the Resource Management Act
- leave the existing monetary policy framework alone

“Central government, local government and the business community all have critical roles to play to ensure that the impact of the global financial crisis is minimised. We look forward to working closely with the incoming Government to ensure costs are contained, necessary financial stimulus is well directed and business as a wealth creator is given every chance to succeed,” Mr Finny concluded.

ENDS

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