Two reports out today show a gloomy picture of our economy, with small business confidence at an all-time low, National’s Small Business spokesperson Andrew Bayly says.

“The MYOB’s 2023 Business Monitor Key Insights report and the NZIER Quarterly Survey of Business Opinion both show that business confidence remains weak.

“The MYOB report said that two thirds of businesses were dissatisfied with the Government’s performance and expected our economy to decline over the next 12 months, pointing to rising inflation and the cost-of-living crisis as key factors.

“This lack of confidence in the economy can be placed squarely at the feet of Labour. As any small business owner knows, cashflow is crucial, and many are struggling.

“Worse still, one in four small businesses say they do not have the employees they need to operate successfully.

“Our economy is in trouble because of this Government’s failure to deliver an economic plan and now small businesses are paying the price. Many will face financial ruin due to climbing interest rates and growing debt.

“While Labour fails to address the underlying issues of the cost-of-living crisis, National has a plan. National will reduce wasteful spending, eliminate bottlenecks in the economy like broken immigration settings, ease costs on business, restore the Reserve Bank to a single focus on inflation, and let Kiwis keep more of what they earn though inflation adjusting the tax brackets.”

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