INDEPENDENT NEWS

Cratering business investment projections deeply concerning

Published: Thu 30 May 2019 02:21 PM
With business investment growth expected to fall from 6.8 percent in 2018 to 0.7 percent in 2019, the Government needs to reconsider its economic strategy, says the New Zealand Taxpayers’ Union.
Taxpayers’ Union Economist, Joe Ascroft, says, “Business investment growth is expected to collapse between 2018 and 2019. While that’s not surprising – businesses have clearly been scared off by plans for a capital gains tax, and regulatory decisions like the oil and gas ban – it does show the Government needs to seriously consider a change in approach.”
“Tax cuts for businesses and individuals would be a great start. The $1 billion spend-up for KiwiRail and the huge forecast increases in social welfare spending demonstrates the Government could easily afford it, but has prioritised politics over sensible economics.”
New Zealand Taxpayers' Union
New Zealand's grassroots campaign for lower taxes and less government waste
The New Zealand Taxpayers' Union is an independent activist group, dedicated to being the voice for Kiwi taxpayers in the corridors of power. It's here to fight government waste and make sure New Zealanders get value for money from their tax dollar. New Zealanders are invited to join and donate at http://taxpayers.org.nz
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