17 Apr 2014

Labour promises tax deferrals for manufacturers

10:11 am on 17 April 2014

Labour is promising tax deferrals for manufacturing companies that invest in new technology.

Party leader David Cunliffe said manufacturing is crucial to the economic lift the country desperately needs and Labour plans to create better jobs and high wages in the sector.

To boost investment, he said Labour would provide tax deferrals to companies in advanced manufacturing, as well as in wood processing.

The deferrals would be rolled-out to all parts of the manufacturing sector, as it could be afforded.

Labour would also introduce research and development tax credits for all sectors and set a target of keeping another $200 million a year of Government contracting in New Zealand rather than sending that work overseas.