Budget 2019 released today provides a large boost to New Zealand’s mental health services among its focus on investment in social areas.
“Business Central welcomes the government’s additional funding for mental health services to improve New Zealanders’ wellbeing, which is important to employers and businesses,” says chief executive John Milford.
“A long-term plan for improving the country’s infrastructure is a vital role for government, so it is pleasing to see today’s Budget containing more infrastructure spending, particularly on rail.
“We look forward to hearing more about how this will be invested in the lower North Island, including the Cook Strait ferry service, which will allow the redevelopment of Wellington’s CentrePort.
“Early stage companies will also have access to a greater pool of domestic capital. A total of $300 million will be diverted from general New Zealand Super Fund contributions into a dedicated managed fund targeting firms between $2m and $15m in size.
“However, updated economic forecasts released today show New Zealand’s growth slowing over the next few years.
“This slowdown will impact on businesses’ ability to employ more people and expand into new markets.
“Our members always rate finding skilled staff as their top priority. Budget 2019 reallocates $197m in vocational education restructuring. More information is required into evaluate how many additional students or services we can expect for this investment.”