Monday, 17 February 2020

ACT's ideas needed to make National's vision a reality

“National’s economic vision is long on aspiration, but it will require ACT’s ideas in order to bring it to life”, according to ACT Leader David Seymour.

“Simon Bridges today outlined a number of economic goals a future centre-right government would work towards.

“Higher economic growth, better wages and more jobs are absolutely essential for higher living standards, so we can afford better education, healthcare and public services.

“How we get there is another matter.

“ACT this morning outlined a checklist according to which any economic reform agenda should be judged, including:

• A flat rate of tax on individual and company income of 17.5%
• Ending wasteful spending like corporate and middle-class welfare
• Replacing the Resource Management Act so the private sector can build new houses and be more productive
• A Regulatory Responsibility Bill to raise the standard of lawmaking
• Raising the age of superannuation to reduce the cost – estimated at $58 billion by 2037
• Improving investment in human capital through charter schools and student education accounts
• Lifting restrictions on overseas investment
• Streamlining the immigration system so we can attract highly-skilled people.

“Our underlying economic problem is productivity. New Zealand’s economy is very busy, it’s just not very productive. In fact, we are in the lower-left corner. Poor productivity twenty years ago, and low growth since. When we talk about poverty, it is really just low productivity. The government needs an all-out productivity drive, reducing government waste, taxes, and excessive regulations.

“When it comes to the economy and higher living standards, National has the right vision – but it will need ACT’s ideas to make it happen.”