Catherine Beard: BusinessNZ Advocacy Director explains the benefits of encouraging investment in New Zealand

Encouraging investment is a top priority in this month's upcoming Budget, according to new reports.

Prime Minister Chris Luxon says it'll come from a small number of measures, including more funding for a R&D tax credit.

BusinessNZ Advocacy Director Catherine Beard says New Zealand is currently one of the hardest OECD countries to invest in.

She says the new agency, Invest New Zealand, is one positive measure.

"Much more like a concierge sort of treatment for investors - and they will have the door flung open and the welcome mat put out."

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Episode Transcript

Speaker 1 (00:00):
Prime Minister is promising he's going to use the budget
to make our business environment more attractive. In a couple
of weeks, he said, initiatives to develop talent and promote
competitive business settings will feature prominently.

Speaker 2 (00:09):
Now.

Speaker 1 (00:09):
Catherine Beard is Business New Zealand's advocacy director and with us.
Hey Catherine, Hey, good afternoon, Any idea what he's talking about.

Speaker 2 (00:18):
Look, there was not a lot of detail. That was
just a flag. But what he did talk about, which
we were quite pleased about, was confirming support for the
R and D tax credit system that we've got. So
he confirmed that they'll be keeping that, which we were
a bit worried about. So that's very good. We need
to be doing R and D and every country typically

(00:42):
has some sort of incentive for business to do R
and D. In ours is it's in place. It's probably
not as competitive as some other countries, but we absolutely
need it and he's confirmed that that's staying, so that's good.
Refocusing the crime recess institutes into three or four entities

(01:03):
we think will work better, having a bigger focus on commercialization, etc.

Speaker 1 (01:09):
Now, how is it possible for him to make it
easier for businesses both local and international? To invest here.

Speaker 2 (01:18):
Look, I don't think it would be that hard, to
be honest, because we've been one of the worst places
or the hardest places to invest in the OECD. So
they will be having a look at the Act because
the Act needs fixing up. It's got a very narrow
definition of what is sensitive land, which is anything over
five hectares, So the Act needs changing. But the Investment

(01:40):
Office which they're setting up will be much more like
a concuge sort of treatment for investors and they will
have the door flung open and the welcome matt put
out and they will be connected and you know, it
will be much more of a hands on service and
they'll be connected to opportunities and I think you know barriers.

(02:01):
If they're running into problems, you know it will be
taken to a high level and the problems will be resolved.

Speaker 1 (02:08):
Okay, good stuff, Catherine, looking forward to it already. That's
Catherine Beard, advocacy director at Business New Zealand. For more
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