Cullen ACT Shows ACT Policy Threat

Thursday 6 Jun 2002 Rodney Hide Press Releases -- Economy

Finance Minister Michael Cullen today paid tribute to ACT by holding a press conference in a vain attempt to disrupt and attack the ACT taxation and economy policy launch, Finance Spokesman MP Rodney Hide said.

"Mr Cullen clearly sees ACT policies of a two-tier tax rate of 28 cents and 18 cents, and corporate tax at 28 cents, as threatening.

"The policy isn't just ACT's. Dr Cullen's own $1 million McLeod Review recommended ACT's policy. Is Dr Cullen now saying his own research is wrong?

"Cutting taxes does boost growth. There is now a tremendous body of empirical research that shows tax cuts boost growth. Is Dr Cullen really saying that the sixteen OECD nations that cut taxes in the past two years are wrong? Is he saying that Australia cutting its company tax rate to thirty cents was wrong and of no consequence?

"Mr Cullen is living in the past pretending that high taxes don't affect an economy.

"Voters have a real choice this election. They can vote ACT and declare that they would rather have their own money in their own pocket instead of in State coffers and Dr Cullen's dopey Super Fund.

"ACT New Zealand will deliver a tax cut for every worker. We will make our corporate tax rate lower than Australia's. That's more than Dr Cullen and the Labour party will ever do for workers or business," Mr Hide said.

For more information visit ACT online at http://www.act.org.nz or contact the ACT Parliamentary Office at act@parliament.govt.nz.

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