No wonder business is down in the dumps

National’s Finance spokesman, Don Brash, says it’s no surprise business confidence is plummeting as the Government hammers the sector with layer upon layer of anti-business legislation.

The National Bank figures released today show the worst December result in the 15 years the survey has been running.

“Dr Cullen is putting the dive down to “atmospherics”. National knows the real reason is a raft of laws which are driving up costs and undoubtedly weakening economic growth prospects.

“Take the changes to the Holidays Act, the Local Government Bill and the Health and Safety in Employment legislation. Add to this the state of the airline industry, ratification of Kyoto, hefty compliance issues and envy taxes, and there’s little wonder business is down in the dumps.

“For Michael Cullen to argue that the sector will eventually accept these changes is wrong. Business is being shafted because the Government has squandered the many good opportunities handed it – high commodity prices, good news down on the farm, low interest rates and, until recently, a weak exchange rate.

“Business is throwing down the gauntlet to the Government and Dr Cullen must act. Only then will we have any chance of achieving higher sustainable growth and moving back into the top half of the OECD,” says Dr Brash.

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