Written By: advantage - Date published: 4:06 pm, August 6th, 2026 - 8 commentsCategories: business, Economy, election 2026, labour, uncategorized - Tags:In the week that the Prime Minister offended small business, unemployment rose to 170,000 and over 6% in the North Island, and the Reserve Bank continues to raise interest rates, Labour showed, again, why the public knows they are better for small business than any other party. · Require big businesses to pay small suppliers within 15 days on invoices of $25,000 or less and to publish how quickly they pay their suppliers. And more often than not, that subbie runs a high risk that bankruptcy also means losing their house that they mortgaged the business on. · Lift the asset write-off from $1,000 to $10,000 for businesses with annual turnover below $10 million, so small businesses can immediately deduct the cost of new equipment from their tax bill. IRD don’t have a reported figure on the number of businesses that will no longer need to pay GST.