New Zealand’s largest business lobby group, BusinessNZ, has called for a corporate tax cut to bring it in line with OECD averages, alongside increased investment in research and development. The group outlined a comprehensive list of economic reforms aimed at boosting competitiveness and long-term growth. The proposed tax cut is seen as a key step to attract foreign investment and support local businesses.
BusinessNZ emphasized that reducing the corporate tax rate would make New Zealand a more attractive destination for international companies. The group also highlighted the need for greater government support for R&D, arguing that innovation is crucial for the country’s economic future. These proposals are part of a broader strategy to enhance productivity and create jobs.
The call for reform comes amid growing concerns about New Zealand’s economic performance compared to other developed nations. BusinessNZ is urging policymakers to prioritize these measures as part of a wider effort to strengthen the business environment. The group has not yet received a formal response from the government, but the proposals are expected to spark further debate on economic policy.
