Labour offers more loans and debt

Labour’s plan for small businesses is to offer more loans and get deeper into debt, National’s Finance spokesperson Paul Goldsmith says.

“While small businesses will welcome any support from the Government, what they really need is an understanding of the pressure they are under.

“Labour is out of touch with the challenges our small businesses are facing. In Government they have hiked fuel taxes, ramped up compliance red tape and wage costs.

“Six weeks out of from the election and there is still no policy certainty on what taxes will be like under Labour.

“Small businesses are concerned about the mounting debts they have as a result of subsequent lockdowns and meeting their payroll.”

“National knows small businesses need cash flow and support to invest in their businesses. We have recently released a comprehensive policy package including a number of tax changes to reduce the cost of compliance on small businesses.

“In contrast, Labour has made owning a business harder, even before Covid hit. Offering to fiddle with tax payments isn’t a clever plan and won’t do much to support businesses.

“Our economy is shrinking, Kiwis are losing their jobs, and families are struggling to make ends meet. National’s pro-employment policies will give businesses the confidence to grow and the unemployed a chance at finding work again.”

You can more about National's economic policies here.