Source: Taxpayers Union
29 JULY 2020FOR IMMEDIATE RELEASE
The New Zealand Taxpayers’ Union is welcoming the National Party’s plan to give entrepreneurs a tax break and allow them to access their KiwiSaver funds. However, the policy doesn’t go far enough or address the major looming threat to the New Zealand economy. Taxpayers’ Union Campaigns Manager Louis Houlbrooke says, “Adjusting tax thresholds for all businesses, and opening up access to capital for aspiring ones, is a step in the right direction. However, limiting the benefits of BusinessStart to those who have lost their jobs and want to start a new business will be a significant handbrake on growth.” “Many existing entrepreneurs are refocusing their businesses in response to economic turmoil. These business owners would benefit the chance to access their own money during a pandemic, and may even be able avoid layoffs.” “Journalists might have noticed the Debt Monster in attendance at Judith Collins’s speech. BusinessStart is a positive policy for some New Zealanders, but all of us deserve to hear more details from National’s plan to pay down public debt. This will have to involve cuts to low-quality spending.”
