The Budget: move along, nothing to see

Here in New Zealand, our Finance Minister Bill English delivered the much anticipated inaugural National Government’s budget today. As expected the promised tax cuts have gone out the window for 2010/11.

We were hoping to give you some great analysis on what it means for small business but there isn’t much to comment on. Clearly the theme of this budget was to signal to the international market that the NZ Government has things under control and as such, it focuses on macro economic issues rather than those being faced on a day to day basis by small business.

The sentiment feels like a crew steadying the ship for the comfort of passengers.

The Government is considering the changes in the December 2007 discussion document, “Reducing tax compliance costs for small and medium-sized enterprises” but there are no further details.  We expect we’ll see incremental changes as per the last changes in February.

At least the focus on broadband was still there with the first $290 million funding installment towards the Government’s $1.5 billion broadband project.

What do you think about the budget?

One Comment

Paul Lattimore
May 30, 2009 at 10:06 am

A budget that probably frustrated Bill English as much as anyone. Left with a dog of a balance sheet in November, he’s done the best with what resources were available.

The Super contribution cutbacks were unfortunate, but hopefully the public will realise that they need to start taking control of their own financial destiny.

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