Media Releases

Retail sector hopes for post-Budget lift in consumer confidence

9 May 2024

Retail NZ is welcoming the prospect of tax cuts in the upcoming Budget and is hoping this will lead to a lift in consumer confidence.

“We are pleased to hear that 83% of Kiwis will see some tax relief in the upcoming budget to be announced by Finance Minister Nicola Willis on 30 May. The Minister, speaking to the Hutt Valley Chamber of Commerce this morning, indicated that the tax cuts will be aimed at middle and lower-income workers,” Retail NZ Chief Executive Carolyn Young says.

“That’s great news for ordinary New Zealanders. We hope that this will reflect in an increase in consumer confidence which is critical to the retail sector.” 

Ms Young says it’s good to hear that the Minister is understanding of the challenges New Zealanders are facing and the strain of the current economic environment. She hopes to see some clear policies to support business and ideally remove some of the regulations that challenge SME’s included in the Budget.

“The indications of targeted focus, including investment in Police, is critical to fight the current wave of retail crime so we will be looking forward to hearing more about this.”

For the latest Retail NZ Media Releases click here.

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