The Canterbury Employers’ Chamber of Commerce has welcomed the announcement in the Budget of the delivery of Labour’s election promise of a $300m acceleration fund for capital investment in Christchurch rebuild projects, says Canterbury Employers’ Chamber of Commerce CEO Leeann Watson.

“This funding is a welcome boost for Christchurch, with several projects strong candidates for acceleration, such as the Multi-Use Arena and the Metro-Sports Facility”, Ms Watson said.

The Chamber has made clear in its submissions on the Christchurch Council’s LTP that businesses wish to see a strong pathway indicating investment in infrastructure to ensure we are on the events calendar again in Christchurch. The Chambers’ hope is this announcement will go some way to ensuring this is carried through in the LTP.

“Business and private investors need certainty around these key anchor projects. This allows them to make their own investment decisions and bring jobs and growth to the Canterbury region.”

“We are also pleased to see the investment of $62m in new capital for the Christchurch Schools Rebuild programme. This will be a welcome boost to both the education of our future skilled employees and extra stimulus for the Canterbury economy.”

The confirmation of the Government’s commitment to the R&D tax credit for business is also good, says Ms Watson.

“R&D tax credits will stimulate investment because innovation is a key to New Zealand growth. It clarifies and provides a more easily understood structure for businesses to invest in R&D.”

The Chamber is also heartened to see the Government sticking to its fiscal targets.

“It’s pleasing that we are seeing continuing responsible management of New Zealand’s finances. This will ensure we can continue to sustainably grow,” says Leeann Watson.