Gerry Brownlee tagged posts

NZ Fund Service Development Group Formed

April 7, 2010 International FinanceNew Zealand Finance

Hon Gerry Brownlee, MCA private sector group has been formed to advise the New Zealand Government on the requirements associated with the creation of an international funds service industry in New Zealand.

In a media statement on April 6th Gerry Brownlee, New Zealand Minister of Economic Development, announced the formation of the International Fund Services Development Group (IFSDG), a Government endorsed private-sector body charged with advising the Government on the establishment of a international funds service industry and turning New Zealand into a attractive funds domicile. The group will be chaired by Craig Stobo, private-sector entrepreneur and director.

The IFSDG is required to issue its final report to the New Zealand Government by June 2010, detailing the steps necessary to create and foster an in...

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Avatar Brings $307m to NZ Economy

January 27, 2010 New Zealand Finance

Sound Design for Visual Media and Film Production students at dbc sound.The box-office hit Avatar has attracted in excess of NZD307 million to the New Zealand economy during the time of its filming in the country.

According to a press release issued by Gerry Brownlee, Economic Development Minister of New Zealand, on January 24th, the award winning film delivered millions of dollars in expenditure to the economy. He claimed that this boon would not have been possible without the government’s Large Budget Screen Production Grant (LBSPG) scheme, from which Avatar has already received NZD44.69 million in tax rebates.

The LBSPG was instituted in the Taxation (GST, Trans-Tasman Imputation and Miscellaneous Provisions) Act 2003 and originally provided a 12.5 percent tax rebate on aspects of productions that exceeded a preset expenditure level...

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NZ Government Turns to Oil for Deficit Solution

November 19, 2009 International FinanceNew Zealand FinanceNew Zealand Taxation

In a speech made by Gerry Brownlee, New Zealand Energy Minister, on November 18th, it has been made clear that the New Zealand Government is actively setting its sights on the petroleum and gas industry to help fix its budget deficits.

Gerry Brownlee made comment about oil being New Zealand’s third largest export in 2008, netting NZ$2.8 billion. He also said that the industry is experiencing heavy expansion with exploration projects being carried out in numerous possible fields across New Zealand. If conservative estimates of the oil potential of the explored fields are recognized, the petroleum export sector could see an extra NZ$30 billion per annum by 2025...

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Tax Breaks for Biofuels

December 18, 2008 New Zealand Taxation  No comments

In a speech made by Energy and Resources Minister Gerry Brownlee to parliament, the use of tax breaks as incentives has been proposed to increase the use of biofuels in New Zealand.

The key concern of the speech was to repeal a Labour government passed law which stated that by the year 2012 2.5% of the petrol and diesel market be sourced from biofuel. Garry Brownlee said that although there were a number of exciting biofuel projects in New Zealand, the amount was not enough to meet the law requirement. Subsequently, this would require fuel companies to import increasing amounts of biofuels and as it is sourced from overseas there is no guarantee that it will be done so from renewable or sustainable resources.

The current implementation of some biofuel productions competes directly with t...

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