If we can't lower taxes, then Government needs to do something to help businesses with compliance costs. It's annoying enough having to pay high tax bills - it's even more frustrating when it costs businesses time and money making sure we pay the right amount, and pay it on time. It would be good if Dr Cullen announced a continuation of his stated intention to simplify the tax regime. Also needed are some solid ideas and initiatives on how to encourage overseas investment into New Zealand. I sometimes imagine that overseas investors must look warily at New Zealand when considering their options.
More work needs to be done on encouraging research and development too.
Innovation will be the key to our future success - we must do everything we can to promote it. But Dr Cullen has a real opportunity to show business what he's made of this time round. He needs to keep one eye on the electorate, of course, but the pressure is off. This is his time to show business that Government has learned the lessons of its first 12 months. Let's hope he can pull it off.