Right now with more than 70,000 New Zealanders on the unemployment benefit since March and Stats NZ’s estimation of a further 185,000 people to lose their jobs in the next year indicates the deepest recession New Zealand is about to experience.
While these figures are very sobering, it’s the individuals and their families behind the figures that represent the ugly side of this worsening economic crisis.
What’s needed right now is National’s plan to grow the economy, give businesses the confidence to invest and grow and to protect and create jobs.
The Indian community understands the grave importance of having a thriving economy. It’s clear New Zealand is in for a tough ride, and our community filled with entrepreneurs and business owners are the ones who are going to suffer because of it.
How we respond to this economic crisis is important and will have a profound impact on our children and grandchildren. We are making choices today that will impact them tomorrow. We need to be careful to ensure we’re not saddling generations to come with a legacy of debt. This would leave our children and grandchildren – and also ourselves – profoundly vulnerable to the inevitable next shock.
National has committed to introducing no new taxes in our first year. Think of how much pressure this will take off small business owners who are struggling. We all came together, locked down and got through the health crisis, it’s now time we worked together to support our local businesses.
To do this National will inject stimulus into our economy through temporary tax cuts.
Our tax relief will see more than $3000 into the back pockets of our average earners and around $1000 for a couple on pension over the next 16 months.
We need an economic plan to grow the economy out of our challenges. Borrowed money must be spent wisely on projects that improve our economy and build productivity.
National has released a fully costed, comprehensive plan to grow the economy, support our businesses and create jobs. All Labour has offered is a day off, higher taxes and a ban on banana stickers. They are adding costs onto businesses when businesses are hurting the most.
New Zealanders deserve world class infrastructure, safer communities and a chance to get ahead. National will rebuild our economy and deliver a country that is once again ambitious and aspirational about its future and ready to tackle the challenges of the 2020s head-on. – IWK Bureau