A survey by MYOB shows that National is a sure thing for business voters.
Despite some unpopular policies and a slight fall off in popularity, National will still capture the vast majority of the business vote according to the latest MYOB Business Monitor.
The MYOB Business Monitor survey of over 1000 business owners around the country shows that National is most likely to get the vote of 59% of business owners in the November election, down slightly from the previous Monitor survey in March when the Government polled 62%, but still well ahead of Labour on 11%. . .
MYOB general manager Julian Smith says, a month out from the election, business owners have signalled a clear choice for a continuation of the fifth National Government.
“Although the MYOB Business Monitor surveys a wide range of business owners right around the country – from sole traders to those running larger enterprises – Kiwi business owners across the board have been consistent in their support for National,” says Julian Smith
Support for the Government is even higher among small business owners (71%) and those with a turnover of between $1-5million (72%). By sector, National is most popular with business owners in the Finance and Insurance sector (67%) and in the Agriculture, Forestry and Fishing sector (65%). Labour finds its strongest support amongst Transport and Warehousing business owners, with 22% of them saying that they will vote Labour, compared with 49% of them likely to vote National.
That is stating the obvious for anyone who has compared the policies we’re likely to get under a National-led government with those we’re likely to get under a Labour-led one.
National’s policies are designed to promote economic growth and show the party understands the important role that businesses play in doing that.
Labour’s policies would add costs and complexities to doing business and employing people.
The capital gains tax, other tax increases, changes to ACC, the increase in the minimum wage and the 1970s employment policy will add tens of thousands of dollars to the cost of doing business and increase both the cost and risk of employing people.
In addition, farmers will face extra costs through the early entry tot he ETS, changes to the RMA and water allocation.
The survey found a small majority of businesses were in favour of asset sales and the policy they opposed most strongly was the CGT.
It also found that businesses can be socialist when other people’s money might come their way:
Businesses would clearly like to see the Government direct more investment into the economy, with things like funding for R&D (popular with 58%), a ‘Buy Kiwi-made’ policy for all Central and Local Government agencies (51%), and more investment in key transport infrastructure (51%).”
More investment in infrastructure is sensible but a buying Kiwi-made policy is getting dangerously close to subsidising businesses which can’t compete on their own.
“However, the one policy that is far and away the most popular for business is the simplification of provisional tax rules, supported by nearly three-quarters (74%) of all businesses,” says Julian Smith.
“This particular policy isn’t on any party’s radar at the moment, but what it emphasises is how complex and time consuming businesses find the current tax regime, and how much any party would stand to gain by making a concerted effort to make life easier for business.”
Good tax might be an oxymoron but simple taxes are better. Time and energy wasted complying with complex tax law, and any other regulatory requirements, are time and money not spent getting on the the businesses which create jobs and contribute to economic growth.