From RNZ · RNZ | Te Reo Irirangi o Aotearoa · · 50s
US Election Results May Boost NZ Economy
Auckland Business Chamber chief says US midterm results could cut oil prices and boost NZ growth.
In brief
Auckland Business Chamber chief says US midterm results could cut oil prices and boost NZ growth. Auckland Business Chamber chief Simon Bridges says US election results may lower oil prices and stimulate NZ economic growth through tax reforms and energy planning. Originally reported by RNZ.
US Midterm Results Could Boost NZ Economy
Auckland Business Chamber chief Simon Bridges says US midterm election results may boost New Zealand's economy through lower oil prices and tax reforms.
“we thought we were having a recovery in [20]25, but then we had liberation day that sucked the sentiment out of a lot of places, including new zealand”
Economic Challenges Since Pandemic
New Zealand's economy has struggled to recover since the pandemic, with Iran war impacts and recent market volatility.
“this year it's been the iran war”
Tax Reform for Growth
Bridges advocates lowering corporate tax rates to attract businesses and boost small business investment.
“if you're that sme and you know that your tax rate's gone from 28 percent to let's say 22 percent, i do think at a level that is a spur to do more, to take more risk, to invest more”
Energy Reform Needed
Bridges calls for energy reform to break up generators and increase supply to stimulate economic growth.
“but what the settings mean is they are rewarded when there's just enough or maybe not quite enough supply”
What it means
Auckland Business Chamber chief Simon Bridges says US election results may lower oil prices and stimulate NZ economic growth through tax reforms and energy planning.
