David Cunliffe has launched Labour’s policy to get more manufacturing jobs back in New Zealand:
Labour leader David Cunliffe launched the policy to an Auckland business audience this morning, adding the depreciation and procurement policies to the known suite of Labour’s approach for manufacturing, including research and development tax credits, lower power prices, a more active monetary policy to create “a more stable exchange rate” and a suite of sector-specific “Economic Upgrade” packages.
“Our aim is to influence investment policy overall,” said Cunliffe. “To change the culture of investment in New Zealand so that firms, entrepreneurs, and investors feel confident in developing world-beating ideas here.”
This is very good stuff. Having a tax break for R&D work has always been a no-brainer, and it is great to see it reconfirmed. Adding an accelerated depreciation scheme for new plant is a helpful addition. And partnering with more local firms for more locally-sourced government procurement makes perfect sense, too. Consider a toy example:
Another no brainer for parties – like Labour – that actually care about local employment.