BusinessNZ welcomes enquiry into "rebalancing" of economy

BusinessNZ welcomes the debate regarding an enquiry into investment, savings and debt issues in New Zealand.

BusinessNZ Chief Executive Phil O’Reilly said the issues are complex and therefore we need a useful way of engendering discussion amongst all New Zealanders about the potential to raise economic performance with a focus on savings and investment.

“It’s important that the committee establishes a solid framework of evidence based squarely in a New Zealand context, taking into account the inter-relationship between national superannuation, tax policy, KiwiSaver and the like, in order to reach its conclusions.

“This debate has been bedevilled by poor analysis and sloganism for too long. We need solutions that suit New Zealand circumstances and to understand at the outset that there will be no single solution to all of New Zealand’s savings and investment problems.

“BusinessNZ therefore recommends the widest possible debate using a solid evidence base. We also recommend early and ongoing involvement of businesses to ensure any policy recommendation is affordable and relevant to New Zealand’s business circumstances.”