It is crystal clear from the Auckland Business Chamber’s October survey of businesses that they want an about-turn from
government on its controversial “Fair Pay” and Income Insurance Scheme proposals. “If the government claims to be
listening, it should back-off on both of these right now” says Chamber CEO, Simon Bridges.
68% of respondents either disagree or strongly disagree with the “Fair Pay” law proceeding through Parliament and an
even higher 78% disagree or strongly disagree with the Income Insurance proposal.
“In terms of business confidence, it’s a mixed picture, with many businesses still very grumpy,” says Simon.
“70% of businesses expect their expenditure to increase over the next year, which makes sense in light of the inflation
picture. It also probably explains why a pretty big chunk of businesses - 43% - expect to see profits go backwards in
the year ahead in comparison to 28% who think it will increase, and 28% who see it staying the same.
“Business optimism, both about their own business and the economic conditions, is generally low but, that said, 85% of
businesses reckon they will either keep the same number of staff or in fact take on more over the year ahead.”