"The big deficit in this budget is they don't take the fundamental decisions that are needed to be taken to get long-term growth in our exports, for 40 years now we haven't covered the cost of our imports and interest and that's got to stop, we cannot continue to go down that track." The country needed pro-growth tax reforms, in the forms of capital gains tax and development tax credits, he said. "We need substantial improvements to savings, we need to get serious about fiscal pressures by addressing the age of superannuation, they are probably the three biggest things that need to be done."
from nzherald: (http://www.nzherald.co.nz/nz/news/article.cfm?c_id=1&objectid=10808641)
In summary:
1. encourage export
2. pro growth tax reform => "capital gain tax" (wow) and development tax credits
3. age of superannuation |