INDEPENDENT NEWS

Budget 2024: Hospitality NZ Welcomes The Government’s Announcement Of Tax Cuts

Published: Thu 30 May 2024 03:31 PM
Hospitality New Zealand (Hospitality NZ) has welcomed the Government’s announcement of tax cuts, increased resourcing for law and order and an increased focus on infrastructure and regional resilience in Budget 2024.
Hospitality NZ Chief Executive Steve Armitage says: “The Government has been clear in the lead up to Budget 2024 that it would focus on being fiscally responsible.
“We were not expecting a package specifically for hospitality, but we welcome the moves to reduce tax, keep communities safe and improve resilience and connectivity.”
"The tax cuts delivered by the Government can have a positive flow-on effect for hospitality businesses, potentially shoring up business confidence. The relief these cuts will provide to households will be welcomed.
“Notwithstanding the pressure on household budgets, there is the potential that these cuts will also provide more discretionary spending power for people to enjoy hospitality.
“Our members, particularly in urban centres across the country, have raised concerns about public safety. Investing $2.9 billion in law and order, including 500 additional frontline police officers, will help address these concerns.
“The Regional Infrastructure Fund (RIF), which aims to grow regional economies by investing in new and existing infrastructure projects, will also have a positive impact for hospitality.
“The impact of extreme weather events like Cyclone Gabrielle on connectivity and supply chains has directly impacted hospitality, as it has most other industries. Investing in infrastructure to address these impacts is a welcome step.
“We will further digest the Budget line-by-line to consider all the impacts for hospitality, accommodation and associated industries.
“We will continue to work constructively with the Minister of Tourism and Hospitality, building on the positive working relationship we have established to date. We’re optimistic that future budgets in this term will include contributions to programs that directly benefit the hospitality industry.”

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