Review of assistance positive

Media release
30 August 2007

Review of assistance positive

Support for offshore investment partnerships show the Government is reviewing its investment programmes – a positive move, says Business NZ.

Today the Government announced new government support for firms to form partnerships or make investments offshore.

Business NZ Chief Executive Phil O’Reilly said it was important to get the best out of government expenditure on business assistance.

“Of course the Government’s first responsibility is to ensure the best business environment possible, so potential exporters can first grow their innovation and productivity here at home. The Government’s greater priority should therefore be to reduce its expenditure and the tax and compliance burden.

“While we may not agree with the policy of picking winners in a business sense, it makes sense that if there is to be government assistance, that this is directed towards overseas expansion and not just the domestic market.

“There is a big difference between a global market of billions of consumers and New Zealand’s market of 4 million. Helping New Zealand firms gain international competitiveness helps them leverage towards the larger global market.”

ENDS

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