15 April 2002
The rural community will be encouraged by the National Party's policy to boost New Zealand's economic growth rate by
reducing tax and regulatory burdens on business, says Federated Farmers President Alistair Polson.
Mr Polson was commenting on National's "Plan for Prosperity" released earlier today.
"It is only through improved economic growth that New Zealanders can afford the sort of health, education and other
services they demand," Mr Polson said.
"New Zealand must have regulatory and taxation regimes that are best practice by international standards to attract
international investment and stop the brain drain. Moves to lower both the top marginal rate and company tax rate over
future years are positive and will reward the determination and hard work of New Zealanders. .
"National's proposals to introduce a Regulatory Responsibility Act, to complement the current Fiscal Responsibility Act
is a very positive move which Federated Farmers, and other business organisations have supported for a long-time.
The Federation will be calling for bi-partisan support for this move just as with the Fiscal Responsibility Act. This
will ensure the provision of a durable and effective regime. Too often attempts by successive government's to address
compliance costs and other regulatory costs have delivered little. The issues and details of the proposed Act will need
to be worked through carefully.
Reintroducing competition into the workplace accident insurance markets and reviewing the compliance cost regimes of
significant pieces of legislation are all positive steps in the right direction.
One area that the Federation hoped more action would be taken was on the issue of Local Government accountability. Local
Government, which is a large players in the New Zealand economy with rates accounting for about 3% of New Zealand's GDP,
needs similar disciplines imposed as National proposes for Central Government Mr Polson concluded.
ENDS