BusinessNZ provides views on each of the recommendations made by the Tax Working Group (TWG) in their final report to the Government in order to assist in making the final decisions that will need to be made in the 2010 Budget.

BusinessNZ supports the Ministry of Economic Development's discussion document entitled Statutory for Financial Reporting Discussion Document that aims to create a financial reporting framework that is coherent, complete and consistent, while balancing the benefits of financial reporting against the compliance costs. While there is much in the Document that BusinessNZ agrees with, there are, however, various issues we wish to raise, including one in particular that we strongly oppose progressing any further.

BusinessNZ welcomes the renewed vigour with which the Government and the Ministry for Economic Development is approaching the potential role for New Zealand’s petroleum resources to play in fostering economic growth.

BusinessNZ welcomes the release of the Ministry for Economic Development’s consultation paper entitled ‘Proposals for Cost Recovery: Emissions Rulings Service’, dated December 2009.

BusinessNZ did not support income splitting when it was first raised in 2008 and we continue to take that position. Therefore, we still believe there are better opportunities for Government to offer financial relief for families where warranted.

BusinessNZ believes that many of the changes proposed in the Electricity Industry Bill, before the Finance and Expenditure Select Committee, will contribute to the delivery of a more secure, competitive electricity market and we largely support them.

BusinessNZ welcomes the release of the Ministry for the Environment’s consultation paper entitled ‘Development of Industrial Allocation Regulations under the New Zealand Emissions Trading Scheme’, dated December 2009.

Concerns presented to the Prime Minister regarding the apparently widening disconnect between the international environment and the implementation of an all gases all sectors emissions trading scheme in New Zealand.

The Retirement Commission has raised particular issues relating to retirement income policies for this review. BusinessNZ wishes to pick up on some of these, as well as other issues we believe need addressing by the Commission.

BusinessNZ considers a number of issues need to be addressed before any decision is now made on what, for the future, will be the most appropriate action to take in respect to the foreshore and seabed.