Budget 2016 shows prudent economic management, says BusinessNZ.

 BusinessNZ Chief Executive Kirk Hope says positive GDP and employment growth figures, and projected growth in exports, investment and other indicators give confidence about New Zealand’s economic path.

He said business would support the Budget’s focus on paying down debt and investing in growth.

“Infrastructure funding – especially for roading, tourism and biosecurity – is well-placed to support key industries.

“More investment in innovation – through the Pre-Seed Accelerator Fund & Callaghan Innovation’s Accelerator Programme – is also appropriate.

“And more funding for apprenticeships and other areas of education will help address the skill needs of business.

“Investment in growth along with a significant amount of social spending has delivered a reasonably balanced budget, while a solid debt repayment path gives confidence for future stability.

“Business would have preferred a Budget configuration that allowed for tax reductions as well.

“We’d advocate for appropriate and timely tax cuts as well as prudence and balance in future plans.”