INDEPENDENT NEWS

Kiwis Need More Than Two-Trick Pony On Economy

Published: Sun 2 Aug 2020 02:04 PM
Massive debt-fuelled spending and keeping the border tight are necessary but insufficient to restore our economy and create jobs, National’s Finance spokesperson Paul Goldsmith says.
Mr Goldsmith was reacting to Grant Robertson’s “Q & A” interview this morning, where the Minister played down projected job-losses when the wage subsidy ends and emphasised more government spending and tight border as the government’s primary economic response.
“The reality is that the spending has not always been well targeted or effective and the so-called tight border of Labour has been shown to have holes.
“The missing piece in the job creation story – the third trick – is bold moves to enable private sector investment,” Mr Goldsmith says.
“The government can buy temporary jobs, such as it is with its $1.1 billion programme to hunt possums and plant flax bushes, but it is the free enterprise economy that creates the most sustainable jobs.
“We need to be making it easier for firms to hire workers and expand their business.
“As well as its JobStart and BusinessStart programmes, which help businesses hire additional workers and redundant workers start a business, National has announced substantial tax changes to encourage businesses to invest. Firms will be able to write off $150,000 per new asset immediately.
“National would also extend 90 day trials to all firms – making it easier for companies to take a chance on new employees, and reverse recent further restrictions on inward investment.
“The government, meantime, is still in the mind-set of adding costs and regulations to business, such as last week’s higher waste levy charges,” Mr Goldsmith says.
“Meanwhile Mr Robertson continues to duck and dive on tax increases.”

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