New Zealand Must Address Its High Cost of Capital, Treasury Says

New Zealand needs to address its high cost of capital, which is a key driver of its poor productivity growth, Treasury Secretary Iain Rennie said.

In a keynote address at the New Zealand Economics Forum Friday in Hamilton, Rennie identified “relatively high tax rates on businesses” as part of a policy landscape that discourages investment and the inflow of foreign capital.

“Attracting significant foreign investment requires creating a favorable investment environment, which includes competitive tax settings, a positive general business climate and an available skilled workforce,” he said.

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