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Dollars & Sense
6 mins to read

Budget blow for business

Dollars & Sense panel examines Budget 2024, which delivered tax relief to households but no direct support to help businesses struggling with weak economy.

WATCH: Dollars & Sense debates the no-frills Budget 2024.

Key points
  • What’s at stake: Businesses hoping for direct support in this year’s Budget were left disappointed amid a deteriorating economy.
  • Background: Budget 2024 delivered tax relief to households from the end of July, which Dollars & Sense guests say may support retailers ‘at the margin’. 
  • Main players: Nicola Willis, NZIER, Christina Leung, UBS, Nic Guesnon, Westpac, Darren Gibbs, Kiwibank. 

 

Businesses hoping for direct support in this year’s Budget were left disappointed amid a deteriorating economy.

As widely expected, Finance Minister Nicola Willis delivered tax cuts worth $3.68 billion a year, matched by spending cuts of $3.71b.

Other changes include increasing the in-work tax

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Key points
  • What’s at stake: Businesses hoping for direct support in this year’s Budget were left disappointed amid a deteriorating economy.
  • Background: Budget 2024 delivered tax relief to households from the end of July, which Dollars & Sense guests say may support retailers ‘at the margin’. 
  • Main players: Nicola Willis, NZIER, Christina Leung, UBS, Nic Guesnon, Westpac, Darren Gibbs, Kiwibank. 

 

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