A Budget for the times

The 2009 Budget is noteworthy for reining in growth in Government spending, according to Business NZ.

Business NZ Chief Executive Phil O’Reilly says the Budget is realistic in the context of the times, while making initial and necessary steps towards increased productivity and growth.

“Taking the top off New Zealand’s accelerating debt, while still targeting spending in key areas like infrastructure is a prudent approach.

“Delaying the promised tax cuts is obviously disappointing but business will take heart from the fact that they have been postponed not cancelled.

“It will be important to continue to focus on productivity and competitiveness and to ensure that Government programmes are coherent, coordinated and take due account of the importance of skills and innovation.

“The hard work of growing our economy is still ahead,” Mr O’Reilly said.