Budget predicted to be safe

Budget 2016 will be safe and responsible – but what will it do to prolong the good times?

Beyond expectations that a surplus will be confirmed, the Eastern Bay of Plenty Chamber of Commerce isn't expecting any huge surprises in this year's Budget.


Eastern Bay of Plenty Chamber of Commerce CEO Gerard Casey says the chamber isn't expecting 'huge surprises” in this year's Budget.

With the exception of the dairy industry, this year's Budget will be delivered against a backdrop of strong demand for New Zealand products and services, strong tourism and migration, a large pipeline of construction projects, low interest rates and relatively full employment, says chamber CEO Gerard Casey.

'We believe that Finance Minister Bill English will point with deserved pride to our success as one of the healthiest and fastest growing economies in the OECD over the period he has been in charge. Relative to many other countries, we are enjoying good times.

'A strong case can be made for accelerated investment in tourism infrastructure, innovative areas of our agriculture sector, and other infrastructure – and doing so by targeting the regional economies, region-by-region.” Gerard says they would like to see some measured investment risk ploughed into the region.

'Every region is experiencing growth, but what they all need is a platform that ensures – and builds local confidence - they have the critical infrastructure needed to exploit their respective opportunities.”

To prolong New Zealand's good times, the regional economies must be lifted to become full participants in the New Zealand growth success story.

'Small-medium businesses (SMEs) are the backbone of our economy. As a country the Chamber would like to suggest we are at a point where we need to take some risks aimed at lifting the performance of regions with growth potential.”

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