Friday, 28 June 2002, 12:14 am Press Release: ACT New Zealand
Friday 28 Jun 2002
The rapid drop in business
confidence makes a cut in company tax essential, ACT
leader Richard Prebble says.
"The appreciation of the
Kiwi dollar, rising interest rates and falling commodity
prices have exposed the fragility of the New Zealand
economy. Also exposed is the reality that Labour has no
coherent economic policy and no ideas for how to combat a
deteriorating economic outlook.
"Instead of
attacking the messenger - the Reserve Bank - Dr Cullen
should be taking steps to boost New Zealand's underlying
competitiveness. Having a higher company tax rate than our
trading partners is a handicap.
"If Labour was to
announce on Sunday when it launches its manifesto that it
will cut company taxes below Australia, it would boost
economic confidence, investment, growth and jobs.
"ACT, if we are elected, will press for an immediate cut in
company tax, to ward off the coming decline in the
economy," Mr Prebble said.
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