“New Zealand’s economy is on the ropes, with imports and exports declining and a monthly trade deficit of more than $1 billion dollars in today’s overseas merchandise trade statistics, New Zealand needs Real Change more than ever,” says ACT Leader David Seymour.
“When you have 14 per cent fewer goods exports and 16 per cent fewer goods imports, that is the sign of a country getting poorer.
“Prudent economic management is going to be required by the next Government. We can’t afford another term of Grant Robertson borrowing up large and creating a buy now/pay later economy, we need an ACT Government focussed on attracting wealth and growing New Zealand’s economy.
“At the core of New Zealand’s problem is low productivity. Too much Government waste, too much red tape and regulation, means too much compliance time and not enough productive time. New Zealanders expect first world living standards, but the economy under Labour doesn't produce them, so Kiwis borrow the gap between a second world economy and first world living standards.
“ACT is the only party who has set out, in considerable detail, how we can bring more success to New Zealand. Our alternative budget is unashamedly focussed on growing New Zealand’s economy and attracting wealth, not dividing the ever-shrinking pie New Zealand currently has. ACT would:
- Take New Zealand from five tax rates on income down to two. It reduces the incentive for tax avoidance and sends a message that if you work hard and do well, you get to keep more of your own money
- Cut wasteful spending by $35 billion, and greatly reduce the size of Government and the impact it has on people’s lives
- Slash regulations and red tape that makes New Zealand such an unattractive place to do business.
“The next Government needs to raise productivity and wages, make the government’s books sustainable, and create a culture where work, savings, investment, and innovation are rewarded.
“This is what ACT will bring to the next government. The simple question for voters is, do we want to carry on in comfortable decline, or do we want to seize the initiative and make our country the preferred destination for talent and investment to stay in and come to?”