Brett O'Riley, EMA Chief Executive, shared that the 2023 budget was one for recovery rather than economic growth.
"We were hoping for well-funded initiatives to stimulate investment that enables innovation, like accelerated depreciation for hardware and software that would drive productivity."
Mr O’Riley shared that the EMA was pleased with the immediate and multi-year approach to fixing and funding new infrastructure to connect key areas of the country but was keen to see detailed plans of priorities.
"While it’s heartening to hear the Government is now not expecting the shallow recession indicated by previous forecasts, this seems to rely on Government spending to drive economic growth and reduce inflation.”
Additional investment in skills and training was also welcomed, particularly the extension of the Apprenticeship Boost. However, that does not address critical skills shortages quickly enough, and other solutions still must be sought.
O’Riley stated that the organisation didn’t expect much or receive much. O’Riley has called for integration, and a more immediate approach to delivering a pipeline of skilled people New Zealand needs now and in future.
"It’s appropriate that there is more support for core services and our communities, but business makes the economy go around."
