BusinessNZ, New Zealand’s largest business lobby group, has called for a reduction in corporate tax rates to align with the OECD average, as part of a broader set of economic reforms. The group outlined a list of priorities aimed at boosting growth and competitiveness, with tax reform being a central demand.
The proposal comes as part of BusinessNZ’s annual economic policy recommendations, which include increased funding for research and development. The group argues that lowering the corporate tax rate would make New Zealand more attractive to foreign investors and help local businesses thrive in a global market.
In addition to tax cuts, BusinessNZ is advocating for greater government support for innovation and technology. The group believes that investing in R&D will drive long-term economic growth and position New Zealand as a leader in key industries.
The recommendations have been welcomed by some business leaders but are also facing scrutiny from policymakers who are concerned about the potential impact on public finances. The debate is expected to continue as the government considers its economic strategy for the coming years.
