Deteriorating government
accounts were an opportunity for a rethink at opening up
previous "no-go areas" of the economy, such as selling shares
in state-owned enterprises, Business New Zealand chief
executive Phil O'Reilly says.
The Government is expected
to release figures tomorrow that show a deterioration in its
operating balance and net debt position compared with figures
from its May 2010 Budget.
While millions of dollars of claims relating to sleepover pay
have yet to be determined, the Government has listed the
issue as an unquantified risk in this year's Budget.
The investment property
market in Queenstown is unlikely to be damaged by the tax
changes rolled out as part of the Government's 2010 Budget,
REINZ Queenstown spokesman Adrian Snow said.
Nearly half of landlords say they plan to put up rents
because of a move announced in the budget to stop
depreciation of buildings as a means of reducing tax.
A 10C-a-litre rise in the price of petrol this year, plus an
estimated 2% rise in electricity prices and an increase in
interest rates, could leave some taxpayers struggling to find
any benefit from the tax cuts announced in Thursday's Budget.