This article was originally created for Hayes Knight (now Nexia Auckland).
Home > Updates > That one’s now in the bag. What happens when the rubber hits the road?
After an election campaign where millions of dollars of funds were promised by the various parties, the rubber will soon be hitting the road to increase our debt and to deliver on these promises. So what does the weekend’s election results mean for business?
Clearly with the Labour party majority, they no longer require other minority party support to get matters across the line, and the minority parties no longer have the same leverage to push their own agendas. This alone will hopefully be a good thing for business and will provide businesses with more certainty.
Labour has however campaigned on a number of measures that will see increased costs for businesses. This is on the back of the business community being battered by the affect that Covid and lockdowns have had on them.
These changes include:
As the true effect of Covid begins to bite, these changes will no doubt add further constraints for business and will lead to businesses reviewing expenditure and cutting back where required, or to increase prices.
If you would like to discuss what the new measures will mean for your business and what you need to be considering moving forward, please contact your Hayes Knight advisor.