INDEPENDENT NEWS

Zero Budget gives business head room to grow economy

Published: Thu 24 May 2012 03:45 PM
Media statement Thursday, May 24th, 2012
Zero Budget gives business head room to grow economy
Today's zero Budget will give business heart to invest and expand the economy, the Employers and Manufacturers Association says.
"By reining in its spending thereby keeping in check its rising debt, the Government will give business the head room to grow the economy," said Bruce Goldsworthy, EMA's Acting Chief Executive.
"There's no way we can keep on borrowing the way we have been; Europe's troubles point to what would happen if we kept down that track," Mr Goldsworthy said.
"The lesson from Europe is that Government spending need not, should not, and ultimately cannot dictate the pace of New Zealand's economic growth.
"Only business can do that.
"The government's role is to set policies that give business people the confidence to invest and employ people, which grows the economy - today's Budget takes a sober approach to doing just that.
"Particular Budget initiatives welcome by business include the setting up of the Future Investment Fund as a reservoir for the revenues from the sell down of state assets and charged with investing them in buying more government assets, especially for education and health.
"The $385 million more to be invested in research, science and innovation is an important signal - the Advanced Technology Institute can't come soon enough.
"The commitment to maintaining investment in infrastructure is equally welcome.
"In all, the Budget is a calculated response to today's most difficult financial conditions that most thinking people will understand and accept."
ends

Next in Business, Science, and Tech

Snail's pace: Aucklanders face frustrating commute over Harbour Bridge
By: RNZ
COVID-19 Sees Record 12.2 Percent Fall In New Zealand’s Economy
By: Statistics New Zealand
Scientists Release ‘Blueprint’ To Save Critical Ecosystems And Stabilize The Earth’s Climate
By: Joint Press Release
Independent Review Launched Into Assurances For Safe Transport Of Livestock By Sea
By: Ministry For Primary Industries
New Zealand PC Market Grows Nearly 40% Due To Work From Home Demand
By: IDC New Zealand Ltd
Public Transport Distancing Requirements Relaxed
By: Ministry of Health
New Zealand Hemp Industry Set To Generate $2 Billion Per Annum And Create 20,000 Jobs
By: New Zealand Hemp Industries Association Inc
One In 14 Employed People Report High Risk Of Losing Jobs
By: Statistics New Zealand
ASB Quarterly Economic Forecast Shows NZ Economy Doing Better Than Expected, But Challenges Remain
By: ASB
Live Export Ship Carrying 5,800 New Zealand Cows Goes Missing In East China Sea
By: SAFE
FMA Releases Report Into Active And Passive Fund Management
By: Financial Markets Authority
Engineers Assess Damage To Auckland Harbour Bridge After Truck Strike
By: NZ Transport Agency
Motorists Urged To Avoid Damaged Auckland Harbour Bridge
By: NZ Transport Agency
Harbour Bridge: Public Transport A Great Option And Plan Ahead
By: Auckland Transport
Second Harbour Crossing Needed Now, More Than Ever
By: New Zealand National Party
View as: DESKTOP | MOBILE © Scoop Media