NZIER senior economist Christina Leung: A MISS
Budget 2017 is unremarkable if politically savvy, but overall too cautious and misses out on opportunities, Leung said.
"We can understand that the Government wants to be prudent with its spending in case of unexpected events such as another natural disaster, but we do consider it's been overly cautious in its approach.
"For example, the Government could have done more in terms of its spending on core functions such as education, health and law and order. While it is increasing its spending [in these areas], this is still projected to fall behind inflation and population growth," she said.
While it was important to be prudent with spending, an overly cautious approach could hold the economy back over the coming years, she said.
"This Budget is likely to be a strategic move to set itself apart from Labour's big spending plans and Minister Joyce has hinted that while the focus remains on reducing government debt, the National Government does have room to reassess its spending plans should it be re-elected in the future," Leung said.
Beany chief executive Sue De Bievre: A HIT
De Bievre said the Budget wasn't wildly exciting, but an emphasis on spending the surpluses on infrastructure and innovation will create opportunities for business owners.
"More could have been spent on innovation and education to help our economy shift from primary produce to higher-value tech and innovation - but at least it was mentioned," she said.
"It has also addressed some of the niggles associated with the rapid increase in visitor numbers with some money for DoC and local government."
Changes to tax were a plus, De Bievre said.
"Changes to the tax system look positive and sensible, with increases to the tax brackets and changes to working for families simultaneously giving people more money in their pocket, without mentioning tax cuts - we can enjoy the changes without feeling guilty," she said.
"It would have been good to see something more positive for the housing issues and the environment though.
"Paying small amounts for irrigation for farmers is a bad look when we are giving away our water resource to offshore businesses."
NZ Forest Owners' Association president Peter Clark: A MISS
Clark said the Budget was one for urban New Zealand, and some selected industries, but not one that would put New Zealand on a pathway towards reduced greenhouse gas emissions.
Clark said the status quo $19.5 million allocation for the Afforestation Grants Scheme gave little indication that the Government was serious in addressing support for afforestation as New Zealand's effort on countering climate change.
But he said forestry and timber processing may benefit from a further cash injection for the railway network, funds for primary industry research and a boost in trade access resources.
Clark said he could not see evidence of the Government addressing what it had acknowledged was a serious problem - that of recruitment and training of workers in the primary industries, including forestry.
While the Government was pouring a "fortune" into improving urban transport, it was ignoring underfunded local government's efforts to keep the regional road network able to service the primary sector, he said.
"For our sector, there was nothing new - a lost opportunity to help transition NZ Inc to a lower greenhouse gas emission pathway," he said.
Bankers Association Karen Scott-Howman: A HIT
Scott-Howman said it was a prudent and no surprises Budget.
"When the Government had surpluses it was really important it used the money wisely and by undertaking social investment the money was going to those who needed it most", she said.
"Businesses do realise that social investment is ultimately good for the economy."
She said the infrastructure investment was particularly welcome as was a $10.2m investment in financial capability in schools.
"We are all for certainty and we got that today."
Chief executive opf Tourism Industry Aotearoa Chris Roberts: A MISS
Roberts said the new $25m-a-year fund for infrastructure over four years was a step in the right direction.
"We realise that the Government has to balance competing priorities and there will always be Budget trade-offs and we are pleased to have the fund but would have liked it to have been bigger.
"The fund includes $11m already invested in the industry each year," Roberts said.
The TIA's view was that investment of around $100m per year would make a real difference and allow a significant infrastructure need across New Zealand to be met, he said.
"Given that the tourism boom since 2014 has provided the Government with more than $1 billion in additional GST revenue from overseas visitors, this would be a worthwhile investment to grow tourism's economic contribution even further."
The Icehouse chief executive Andy Hamilton: A HIT
Hamilton says the Budget is a consistent and steady as she goes approach from the new Finance Minister.
"There is significant investment in some key areas as a result of good management of the economy in the past," Hamilton said.
"So it's a hit for me because it's consistent but they've doubled down on some of the key areas."
Hamilton said while he thought the Government could have been more courageous in some areas, it was hard to be critical given the money being invested across so many areas.
"I think for families to be able to get another $20 or $40 a week as part of the family's package is pretty awesome," Hamilton said.
"So would I like to see them approach and attack some of the competitiveness and productivity issues, yes, but they're probably not going to do that in an election year," he said.
"Maybe the thing I have been most taken with is the amount of investment that has been proposed which is fantastic. That was the one surprise - when you look at the millions and billions that have been invested as part of this Budget, it's massive."
Craigs Investment Partners' Mark Lister: A HIT
Steven Joyce's first Budget was one of National's most generous, says Lister.
Lister described the Budget as a crowd pleaser and said it will do them well in an election year. He praised the Government for putting spending into infrastructure, health and families and said the Budget will see National do well in the polls.
"They've hit the right balance between spending a little more where it's necessary and being a little more generous but still remain quite responsible so that they will keep that image that they've worked very hard to maintain of being a sensible steward of our tax dollars," Lister said.
"Quite cynically, it's an election year so of course you would push the boat out a little bit."
Horticulture NZ CEO Mike Chapman: A HIT
Chapman said he gave the Budget a "pass" mark for its plan to spend more on New Zealand's biosecurity and on infrastructure.
Specifically, he said more spending on getting the Picton-Christchurch rail link back in operation was a plus for the sector after last year's Kaikoura earthquake severely damaged the main trunk line and disrupted South Island growers' ability to get their produce to the North Island and to export markets.
Chapman said the Government's moves to spend more money on opening up land for housing would act against growers' interests as they sought to battle the effects of urban sprawl on key growing areas up and down the country.
"Our big concern is losing land that we grow fruit and vegetables on to houses," he said.
"We want to support the people of New Zealand and to export our produce overseas. If we lose our land to houses, we can't do that," he said.
Chapman said the Government's moves to help low income families were also welcome.
"There are people who need help to get out and work, so anything that can be done to help is very important in our view," he said.
Auckland Chamber of Commerce chief executive Michael Barnett:
A MISS
Barnett's major objection to the Budget is the length of time it will take to implement its promises.
"I think that what they've failed to do is to recognise that ... we're going to have to make decision and investment at speed and we're not."
While the Budget recognised that middle New Zealanders had overpaid their taxes for "probably the last five years", the Budget did not address issues such as the problems the influx in tourism was causing.
"What's suffered is all the small communities around New Zealand by the damage to infrastructure and that lack of facilities. [The Government has] taken over all of the revenue over the last several years and they'll continue taking the revenue because they're expecting to continue to see 3 per cent growth, but they're going to drip feed the reward.
"The reward for New Zealand has got to be better infrastructure, better order, better tourism facilities, better regional support. And it's required now."
Spark Digital chief executive Jolie Hodson: A HIT
Hodson said strong economic performance, good growth and modest inflation had provided the Government an opportunity to take a balanced approach "enabling it to invest in a number of its key priorities while reducing debt".
"Social investment is hugely important in a society that's concerned about addressing rising inequality, and it's good for business too.
"As a large employer we need more skilled employees, and so does the rest of New Zealand, to create a thriving economy," she said.
"Access to learning and education is critical as we know that a good education is key to breaking the poverty cycle.
"It's good to see the tax thresholds - particularly at the lower end - have been adjusted and I'd like to commend the approach that's been taken to using data analytics to help better guide how social investment is made."
Hodson said Spark was pleased to see funding allocation to infrastructure and the Government support of extensions to the rural broadband scheme would help New Zealanders in rural communities.
"We echo the sentiment that Investment in innovation is hugely important for lifting our productivity," she said.
"Tech is a great space for New Zealand to play, but needs more R&D to ensure we develop this as an export for the future."
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