New Zealand Gazette – 1990 – No. 210

Page 4524

✨ Government Economic and Social Policy Announcement



4524 NEW ZEALAND GAZETTE No. 210

Within New Zealand, my Government will be initiating an economic programme to foster competitive enterprise, secure growth, increase employment, and achieve fairness on a tight budget.

Three fundamental reforms are the cornerstone of my Government’s economic strategy. Steps will be taken to control, reduce and eliminate the fiscal deficit in the term of this Parliament. The Government will reform the labour market to achieve greater productivity and more jobs. It will maintain a consistent monetary policy which will focus on achieving and maintaining price stability.

These measures will be taken to enable New Zealand to experience lower interest rates, better and more flexible work practices, strong employment growth, and a greater degree of international competitiveness.

HONOURABLE MEMBERS, a number of elements of the tax system which discourage investment and, consequently, business development and employment will be removed progressively during the term of Parliament. Concerns about the complexity of the tax system will be addressed, and my Government will introduce measures to reduce compliance costs for taxpayers.

My Government will remove one disincentive to saving by abolishing the surcharge on national superannuation. It will also introduce a new tax incentive to encourage long term savings for the purpose of providing extra income in retirement.

HONOURABLE MEMBERS, legislation will be introduced to remove disincentives to invest in important primary industries by amendment to the taxation regimes for forestry, agriculture, and petroleum mining.

The Fisheries Quota Management System will be examined to ensure that it is working efficiently. Existing legislation on aquaculture will be changed so that the industry’s potential can be realised.

New policies will be implemented to promote New Zealand as an attractive destination for international tourist travel.

HONOURABLE MEMBERS, immigration also contributes to the economic prosperity and social development of our nation. My Government will encourage more skilled migrants from a wider variety of countries to come to New Zealand.

The Government will promote scientific and technological development by completing the process of restructuring its own science



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✨ LLM interpretation of page content

🏛️ Government Economic Programme Announcement

🏛️ Governance & Central Administration
Economic programme, fiscal deficit, labour market reform, monetary policy, tax system, investment incentives, superannuation, forestry, agriculture, petroleum mining, fisheries, aquaculture, tourism, immigration, science, technology