Thursday, 1 October 2020

ACT reveals comprehensive plan for SMEs

“ACT has today released our suite of SME policies which will boost the economy, empower small business owners to take chances, and get more people into work,” say ACT Leader David Seymour and SME spokesperson Chris Baillie.

“Only ACT has a comprehensive plan for economic recovery which will keep debt low, cut taxes and get New Zealand back to surplus, all while keeping people in work,” says Mr Seymour.

“Seven out of ACT’s top 10 candidates are business owners. We understand the pressures that business owners are under and how to create sensible, practical policies which support them.”

“Covid-19 has hurt our small businesses. Through no fault of their own they were forced by the Government to shut down and have had major restrictions placed on them which have limited their earning potential,” says Mr Baillie.

“Covid-19 also showed how Government puts small business to the back of the bus. While supermarket chains who retain lobbyists in Wellington were given a pass, people were forced to drive past their local butcher, baker and greengrocer, which were all shut.

“Lockdowns have had a huge impact on our economy. It’s only right that Government now creates policies which supports SMEs to not just get back on their feet but go on to thrive.

Our SME plan includes:

  • Introducing accelerated depreciation of assets
  • Placing a three-year moratorium on minimum wage increases
  • Reducing GST from 15 percent to 10 percent for a 12-month period
  • Reinstating 90-day trials for all businesses
  • Directing a larger portion of apprenticeships funding for businesses
  • Prioritise and streamline the immigration process for skilled workers
  • Moving NZ Trade and Enterprise into the Ministry of Foreign Affairs and Trade
  • Streamlining the employee personal grievance process
  • Ensuring employees are responsible for their actions under the Health and Safety at Work Act rather than placing all the onus on the employer.

“Starting a business is incredibly brave and involves taking huge risks. ACT will support businesses that take a chance, make policies to get more people into work and help get the New Zealand economy moving again.”

A link to our SME plan is available here.