Returning the Government's books to surplus by 2014/15 gives business a lot of confidence, the Employers and Manufacturers Association says.
Chief executive Kim Campbell said the Budget was keeping the focus on financial stability while helping the economy edge forward.
"Three per cent GDP growth with inflation about one per cent is a meaningful achievement," he said.
Employers would be delighted with the announced reduction in ACC levies, while the focus on more available and affordable housing could not come too soon.
Mr Campbell said extra investment going into skills and employment was the right message.
But while extra funding for research and science was pleasing, it would not be enough to bring New Zealand up to OECD measures.
"On the downside there are no initiatives to spur on development in the regions, and only indirect acknowledgement of the headwinds our exporters have been facing."
