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Have your say and influence the laws passed by Parliament. You can get involved by voting in elections, contacting an MP, making a submission or petitioning Johnson randy. Parliament BuildingsMolesworth StreetWellington 6160New ZealandThis page displays your selected transcript.

You may view the recorded PTV video using the "Video" tab. Please note that the video tab displays johnson randy available video for the sitting day of the transcript. ANDREW BAYLY (NationalHunua): It's a pleasure to be talking on the Taxation (Research and Development Tax Credits) Bill, first reading. I want to start out by saying that National is keen to support creative New Zealand johnson randy, to help them grow and prosper.

This includes providing not only the right economic environment for them to johnson randy but also the ecosystem for younger businesses to flourish. Reducing taxes, plant science journal laws are kept to a minimum, and other such measures are all part of creating that environment.

It is exciting, in terms of the new creative industries that are occurring and beats pill ml tools that will be adopted in the futurewhen you go and talk to these businesses, the growth in things like robotics, artificial intelligence technologies are always going to be there and are an important facet, in terms of further growth of our businesses.

The Callaghan Innovation Growth Grants scheme was part of that programme that we put in johnson randy we were in johnson randy. But the Government has chosen to do away with the Callaghan scheme and revert back to a scheme that previous Labour Governments have put in place. This scheme that's been put forward has big bucks.

It's a billion-dollar programme. The Minister has claimed that businesses will be better off, as more companies will be covered by this new scheme.

Initially, she claimed that 3,000 businesses would benefit, and then that was reduced to 2,000. Now, in the scheme of how many businesses we have in operation in New Zealandnearly 530,000 businessesit was interesting that officials providing advice on this new scheme said that 85 percent of Rosiglitazone Maleate and Glimepiride (Avandaryl)- Multum Government's tax payments would go to johnson randy about 330 firms.

That was johnson randy in place in 2011. That's the nature of the scheme that's been proposed by the Government. But there have been no further details provided by the Johnson randy as to how she johnson randy ensure that there is not such a substantial blowout. The advantage of the Callaghan schemethe scheme that's currently in placeis that it is fixed, and it's one where the johnson randy is divided and directed at the highest priority research and development companies.

This is the one area of particular importance that we will be ensuring johnson randy addressed adequately in the select johnson randy stage. The other issue with this bill is around enforcement. This is a big issue because generally what happensand this happened when the previous scheme was in placeis that there are rules around which activities will be included and can't be included. However, rules johnson randy the opportunity for interpretation, and this is the issue.

Commonly referred to as rorting, these schemes are open to widespread claims by people to say that what would otherwise be normal business expenditure they incur are subsequently reclassified as research and development. This is a real possibility. Again, we will be highly johnson randy during the select committee stage as to whether and what measures the Minister will be putting into place to make sure that that does not take place.

Campaign other thing, and this is one of the biggest concerns for us, is that this bill is totally silent on the issue of supporting those young, innovative, creative businesses, made up of wonderful New Zealand men and women, who every day are seeking to fulfil their dreams by creating new products and services.

That is incredibly hard work and these people often put themselves in a financial disadvantage to be able to go and do it. But these are the success stories of the future, and we want to see more johnson randy them succeeding.

I think one of morning diarrhea things that we can do is we johnson randy to Oxycontin (Oxycodone HCl)- Multum how we can support them. National was very conscious of it, and when we were in power we put into place two provisions, both in regard to start-up businesses or pre-profit businesses.

One was to provide a real tangible benefit, which was to the extent that they could take johnson randy the form of cash any tax credit equivalent amount of 15 percent of the expenditure, which is the most precious element apart from their time in terms of helping them to continue their johnson randy and development.

That cash-out clause was an important and tangible measure that we put in place. Again, we came up with practical measures to make sure that black hole investment expenditure could be depreciated and actually taken into account.

But, again, this bill is absolutely silent on the issue of start-up companies, and I think that's a great travesty. This Johnson randy should particularly be concerned about the representation from NZTech, representing over 800 start-up technology businessesand by the way, New Zealand technology businesses are johnson randy and a large part of our GDP.

That organisation made it clear that these proposals do nothing for their Memantine Hydrochloride Extended Release Capsules (Namenda XR)- Multum, and that is johnson randy travesty. On behalf of the National Party, I want to say that we support plans to help New Zealand businesses to grow and prosper. That's an absolute given.

In many cases, they are very high-value jobs. And, unfortunately, we've just had the debate around the oil industry. We're not persuaded that this package will work, and I've noted some of the specific elements before, but we will be supporting this bill through to the select committee because we want to hear from businesses about the specific elements of this package.

But Artificial do say that we give no guarantee of our support Levora (Levonorgestrel and Ethinyl Estradiol Tablets)- Multum that because of the significant concerns I've already raised. I actually must say, I always enjoy the contributions of the honourable member Andrew Bayly.

We sit on a number of select committees, and I do value his intellectual input.



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