Lower company tax would benefit every NZ'er

Friday, 5 November 2004, 12:00 am
Press Release: Business New Zealand

5 November 2004

Lower company tax would benefit every New Zealander

Business NZ absolutely supports Jim Anderton's call to reduce the company tax rate, says Chief Executive Phil O'Reilly.

"Mr Anderton is correct to say cutting the company rate would allow companies to reinvest to achieve higher productivity and more economic growth. This would benefit every single New Zealander. It would begin to make us more competitive with Australia and all other trading competitors.

"Hearing a senior member of the Government acknowledge that New Zealand's company tax rate is one of the highest in the Asia-Pacific region is extremely positive," Mr O'Reilly said.

"Mr Anderton's speech last night included some generally positive directions. I look forward to hearing specific details, such as the proposed timing for introducing a lower company tax rate.

"Of course, under MMP parties can promote policies knowing they can be later bargained away during coalition negotiations - business will be hoping this is not simply a bargaining chip for a looming election."

ENDS

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