Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

Guarantees needed before higher petrol taxes


Guarantees needed before higher petrol taxes

Business will oppose any increase in petrol or vehicle taxes until guarantees are in place that the extra funds would be invested in roads, says the Employers & Manufacturers Association (Northern).

"Before business can give a green light to higher petrol taxes such as the 15 cents a litre more on petrol, we need cast iron guarantees the extra money raised would pay for better roads," said Alasdair Thompson, EMA's chief executive.

"Under the new Land Transport Management Act road user petrol taxes can be siphoned off to pay for anything but roads.

"Road users can be taxed to fund such things as cycleways, walkways, rail track maintenance and coastal shipping.

"The same applies to funds raised by tolling roads.

"At the same time that Government siphons off extra petrol taxes and tolls ostensibly for building roads, it can divert more from the existing road user funding streams into the consolidated fund.

"Every time you fill up with 50 litres of gas now you pay over $27 in taxes but only $6.95 of it goes into building roads.

"Three quarters of motorists' petrol taxes doesn't go to roads.

"Meanwhile Transit New Zealand is unable to spend the excess funds sitting in Transfund's bank account on the roads urgently needed in Auckland. Hence other regions are getting roads built that were well down Transit's own priority list."

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Voluntary Administration: Renaissance Brewing Up For Sale

Renaissance Brewing, the first local company to raise capital through equity crowdfunding, is up for sale after cash flow woes and product management issues led to the appointment of voluntary administrators. More>>

Elsewhere:

Approval: Northern Corridor Decision Released

The approval gives the green light to construction of the last link of Auckland’s Western Ring Route, providing an alternative route from South Auckland to the North Shore. More>>

ALSO:

Media Mega Merger: Full Steam Ahead For Appeal

New Zealand's two largest news publishers have confirmed they are committed to pursuing their appeal against the Commerce Commission's rejection of the proposal to merge their operations. More>>

Crown Accounts: $4.1 Billion Surplus

The New Zealand Government has achieved its third fiscal surplus in a row with the Crown accounts for the year ended 30 June 2017 showing an OBEGAL surplus of $4.1 billion, $2.2 billion stronger than last year, Finance Minister Steven Joyce says. More>>

ALSO:

Mycoplasma Bovis: One New Property Tests Positive

The newly identified property... was already under a Restricted Place notice under the Biosecurity Act. More>>

Accounting Scandal: Suspension Of Fuji Xerox From All-Of-Government Contract

General Manager of New Zealand Government Procurement John Ivil says, “FXNZ has been formally suspended from the Print Technology and Associated Services (PTAS) contract and terminated from the Office Supplies contract.” More>>