Budget 2010 brings opportunity for Hawkes Bay
May 20, 2010
Local MP’s Chris Tremain and Craig Foss say this year’s Budget is about building on our economic recovery and provides genuine opportunities for The Bay.
“National is delivering changes to the tax system that will mean three quarters of people who work in The Bay will face a tax rate of no higher than 17.5%,” says Chris Tremain. “This is great news given that just two years ago may of these people would have faced tax rates of 33%. This is a huge benefit for hardworking Hawke’s Bay people putting the incentive to work hard in the right place.”
“The centrepiece of this Budget 2010 is a major tax package aimed at reforming the tax system to make it fairer, more sustainable and to better support for economic growth,’ say Craig Foss. “Economic growth is vital to providing Hawke’s Bay people and their families with the services and living standards they want and deserve.’
New Zealand has the opportunity to come out of this downturn in a better postion than many other countries,’ says Chris. ’This is partly becaue of our lower debt levels and competitive tax rates by world standards.’
‘We are well placed to stand out from the crowd and deliver a rebalanced economy that focuses on investment in the right places – investment in productive firms and sustainable job creation and growth,’ says Craig. ‘And given The Bay’s productive business base this is fantastic news.’
But Budget 2010 also shows we are not out of the woods yet, which is why there will be a continued focus on Crown debt levels, the quality and quantity of Government spending and our overall economic performance,’ both MPs say.
