It’s great to hear the government has broken the budget into a Wellbeing and Economic budget. With mental health now affecting business productivity, it’s about time that this was addressed.
While there were no new tax announcements and very little in the budget to help transform the economy, there were aspects of the budget that will likely help New Zealand businesses in the long term:
The government is going to fund $300 million towards start-up businesses so they can grow and succeed. $106m of this funding will go towards innovation to help New Zealand adopt new technology – this is aimed at mid-sized businesses between $2m and $15m in size, who currently look overseas for funding when they need to expand. The other nearly $200m will go towards education to boost apprenticeships and trade training.
See a full copy of the budget here: The Budget 2019