Diana Clement: Hold your horses, there's good budget news too

Sadly this week's Budget held little good news for the private investor. Any hope of tax cuts - or more money in the pocket to spend or invest - was dashed. However, two snippets will benefit those investing in property or horse racing.

* Property investment: While car drivers may be celebrating the $1.3 billion to be spent on roading, property investors may have something to cheer about also. Property market analyst Kieran Trass, of Hybrid Property, says the new roads could boost property in the long run, particularly in outlying areas of Auckland.

* Bloodstock investment: Budget announcements of accelerated depreciation for bloodstock and racing gaming duty will make New Zealand a more attractive place for investment in the racing industry, says well-known owner and racing commentator Dennis Ryan. He hopes the changes, which make owning bloodstock more economically viable, will encourage new investors into the market - directly or via well-established industry figures who put together syndicates and partnerships.

But for the average small investors, it was a lost opportunity, says David Skilling, head of the New Zealand Institute. Skilling was hoping for an extension of KiwiSaver - which he believes takes certain elements of savings' best practice from other parts of the world. But that and tax incentives to save were missing.