1 00:00:00,080 --> 00:00:02,040 Speaker 1: Prime Minister is promising he's going to use the budget 2 00:00:02,080 --> 00:00:04,520 Speaker 1: to make our business environment more attractive. In a couple 3 00:00:04,559 --> 00:00:07,360 Speaker 1: of weeks, he said, initiatives to develop talent and promote 4 00:00:07,360 --> 00:00:09,640 Speaker 1: competitive business settings will feature prominently. 5 00:00:09,680 --> 00:00:09,799 Speaker 2: Now. 6 00:00:09,840 --> 00:00:13,360 Speaker 1: Catherine Beard is Business New Zealand's advocacy director and with us. 7 00:00:13,400 --> 00:00:17,200 Speaker 1: Hey Catherine, Hey, good afternoon, Any idea what he's talking about. 8 00:00:18,960 --> 00:00:21,759 Speaker 2: Look, there was not a lot of detail. That was 9 00:00:21,880 --> 00:00:25,919 Speaker 2: just a flag. But what he did talk about, which 10 00:00:25,960 --> 00:00:29,520 Speaker 2: we were quite pleased about, was confirming support for the 11 00:00:29,680 --> 00:00:32,680 Speaker 2: R and D tax credit system that we've got. So 12 00:00:32,800 --> 00:00:35,680 Speaker 2: he confirmed that they'll be keeping that, which we were 13 00:00:35,720 --> 00:00:38,279 Speaker 2: a bit worried about. So that's very good. We need 14 00:00:38,320 --> 00:00:42,000 Speaker 2: to be doing R and D and every country typically 15 00:00:42,080 --> 00:00:45,440 Speaker 2: has some sort of incentive for business to do R 16 00:00:45,440 --> 00:00:49,519 Speaker 2: and D. In ours is it's in place. It's probably 17 00:00:49,560 --> 00:00:53,520 Speaker 2: not as competitive as some other countries, but we absolutely 18 00:00:53,560 --> 00:00:57,160 Speaker 2: need it and he's confirmed that that's staying, so that's good. 19 00:00:58,320 --> 00:01:03,360 Speaker 2: Refocusing the crime recess institutes into three or four entities 20 00:01:03,440 --> 00:01:08,600 Speaker 2: we think will work better, having a bigger focus on commercialization, etc. 21 00:01:09,640 --> 00:01:11,880 Speaker 1: Now, how is it possible for him to make it 22 00:01:11,920 --> 00:01:15,880 Speaker 1: easier for businesses both local and international? To invest here. 23 00:01:18,080 --> 00:01:19,959 Speaker 2: Look, I don't think it would be that hard, to 24 00:01:20,000 --> 00:01:22,160 Speaker 2: be honest, because we've been one of the worst places 25 00:01:22,600 --> 00:01:25,880 Speaker 2: or the hardest places to invest in the OECD. So 26 00:01:26,440 --> 00:01:28,800 Speaker 2: they will be having a look at the Act because 27 00:01:28,840 --> 00:01:32,959 Speaker 2: the Act needs fixing up. It's got a very narrow 28 00:01:33,000 --> 00:01:36,560 Speaker 2: definition of what is sensitive land, which is anything over 29 00:01:36,760 --> 00:01:40,520 Speaker 2: five hectares, So the Act needs changing. But the Investment 30 00:01:40,600 --> 00:01:43,400 Speaker 2: Office which they're setting up will be much more like 31 00:01:43,440 --> 00:01:48,080 Speaker 2: a concuge sort of treatment for investors and they will 32 00:01:48,720 --> 00:01:51,080 Speaker 2: have the door flung open and the welcome matt put 33 00:01:51,120 --> 00:01:54,720 Speaker 2: out and they will be connected and you know, it 34 00:01:54,720 --> 00:01:58,040 Speaker 2: will be much more of a hands on service and 35 00:01:58,080 --> 00:02:01,600 Speaker 2: they'll be connected to opportunities and I think you know barriers. 36 00:02:01,960 --> 00:02:04,840 Speaker 2: If they're running into problems, you know it will be 37 00:02:04,920 --> 00:02:08,600 Speaker 2: taken to a high level and the problems will be resolved. 38 00:02:08,840 --> 00:02:10,960 Speaker 1: Okay, good stuff, Catherine, looking forward to it already. That's 39 00:02:11,000 --> 00:02:14,880 Speaker 1: Catherine Beard, advocacy director at Business New Zealand. For more 40 00:02:14,960 --> 00:02:18,280 Speaker 1: from Heather Duplessy Allen Drive, listen live to news Talks. 41 00:02:18,280 --> 00:02:21,480 Speaker 1: It'd be from four pm weekdays, or follow the podcast 42 00:02:21,560 --> 00:02:22,600 Speaker 1: on iHeartRadio.