24 Nov 2008

Stock exchange head expresses confidence in PM

8:53 am on 24 November 2008

Stock exchange chief executive Mark Weldon says he expects Prime Minister John Key to quickly implement changes to help deal with the severe global downturn.

Mr Key has talked to a number of groups about the economic situation, including Mr Weldon who says the Prime Minister understands that the business community and economy is under pressure.

Mr Weldon supports National's plans to implement another round of tax cuts in April, accelerate infrastructure spending and get the Superannuation Fund to invest more in New Zealand.

For his part, Mr Weldon has heavily pushed his own ideas on concrete steps the Government could take to help cope with the economic fallout, which he says came up in the talks he had with the country's new leader.

He says the tax structure is important for business, as is speedy and effective raising of capital.

Mr Weldon says the Reserve Bank also needs to do its part, and cut rates quickly.