Budget a missed opportunity for growth

20 May 2021

BusinessNZ acknowledges the social spending contained in Budget 2021 but is disappointed at the lack of focus on growing the economy.

BusinessNZ Chief Executive Kirk Hope says reducing child poverty, supporting Maori and Pasifika and tackling climate change are worthy targets for investment, but the needs of business and the economy should have had more attention.

“Additional investment in infrastructure, and training and digital skills will be appreciated, along with the plan to develop a scheme to help support unemployed people find new jobs,” Mr Hope said.

“However there is little else directly focused on building the economy or easing the burden on businesses.

“Business was keen to see less burdensome regulation, policies to stimulate growth and development, and more certainty around business policies into the future.

“We’d appreciate a plan to fix the housing crisis and more certainty around the plan for economic recovery from Covid.

“From a business perspective, the Budget represents a missed opportunity for growth.”