Michael Barnett, Auckland Chamber of Commerce head, agreed the taxes returned to the pockets of middle New Zealanders was made possible by the hard work and success of business over the past eight years.
“Looking out at the 3% growth in the New Zealand economy for the next five years, peaking at 3.8% in 2019, New Zealand’s prospects will depend on business continuing to invest, export and create more skilled jobs.” If that’s what New Zealanders want, they will be happy.
But if people were looking at the Budget for an immediate step up in action on building more houses, reducing congestion and attracting more talent into jobs, they may be less happy with this Budget.
Finance Minister Steven Joyce is right to be looking to improve public services, invest in infrastructure and boost family incomes. But if the Government’s plan is to do this with “an ongoing programme of micro-economic reform” as the Budget put it, there needs a step up in the pace of action and decision-making.