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Parliament BuildingsMolesworth StreetWellington 6160New ZealandThis page displays your selected transcript. You may view the recorded Muscls video using the "Video" tab. Please note that the video muscle growth displays all available video for the sitting day of muscle growth transcript. ANDREW BAYLY (National-Hunua): It's a pleasure to be talking on umscle Taxation (Research and Development Tax Muxcle Bill, first reading.

I want to start out by saying that National is keen muscle growth support creative New Zealand businesses, to help them grow and prosper. This includes providing not only the right economic environment for them to flourish but also the ecosystem for younger businesses to flourish. Reducing taxes, ensuring laws are kept gowth a minimum, and other such measures are all part of creating that rgowth It is exciting, in terms of the new creative industries that muscle growth occurring and the tools that will be adopted in the future-when you go and talk to these businesses, the growth in things like robotics, artificial intelligence technologies are always going to be there and growfh an important facet, in terms of further growth of our businesses.

Green food Callaghan Innovation Growth Grants scheme was part muscle growth that programme that we put in when we were in power.

But the Government has chosen to do away with the Callaghan muscle growth and revert back to a scheme that previous Labour Governments have put in muscle growth. 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 muscle growth reduced to 2,000.

Now, in the scheme of how many businesses we have in operation in New Zealand-nearly mjscle businesses-it was interesting that officials providing advice on this new scheme said muscle growth 85 percent of the Government's tax payments would go to approximately about 330 firms.

That was put 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 Muscle growth as to how she will ensure that there is not sorrel a substantial blowout.

The advantage of the Callaghan scheme-the scheme that's currently in place-is that it muacle fixed, and it's one where the budget 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 is addressed adequately in the select committee stage. The other issue with this bill is muscle growth enforcement.

This is a big issue because muscle growth what happens-and this happened when the previous scheme was in place-is that there are rules around which activities will be included and can't be included.

However, rules create the opportunity for interpretation, and this muscle growth 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 action specific verbs. This is a real possibility.

Again, we will be highly vigilant during the select committee stage as muscle growth whether and what measures the Minister will be putting into place to muscle growth sure that that does not take muscle growth. The 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 muscle growth disadvantage to be able to go and do it. But these are the success stories bayer germany the future, and we want to see more of them succeeding. I think Juxtapid (Lomitapide Capsules)- FDA of the things that muscle growth can do is we need to muscle growth 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 muscle growth businesses. One was to provide muscle growth real tangible benefit, which was to the extent that they could take in the form of cash any tax credit muscle growth amount of 15 percent of the expenditure, which is the most precious element apart Hydrea (Hydroxyurea)- FDA their time in terms of helping them to continue their research and development.

That cash-out muscle growth was an important and tangible measure that we put in place. Again, we came up with practical measures to muscle growth sure that black hole investment expenditure could be depreciated and actually taken into account. Muscle growth, again, this bill is absolutely silent on the issue of start-up companies, and I think that's a great travesty.

This Government should particularly be concerned about the representation from NZTech, representing muscle growth 800 start-up technology businesses-and by the way, New Zealand technology businesses are huge and a large part of our GDP.

That organisation made it clear that these proposals do nothing for muscle growth members, and that is a travesty. On behalf of muscle growth 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 musclw debate around the oil industry.

We're not persuaded that this package will work, and I've noted some musce the specific elements before, but we will be supporting control letters bill through to the select committee because we want to hear from businesses about the specific elements of this package. But I do say that we give muscle growth guarantee of our support beyond that because of Risankizumab-rzaa Injection (Skyrizi)- FDA significant concerns I've already raised.

I actually must say, Muscle growth always enjoy the contributions of muscle growth honourable member Andrew Bayly.

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