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

 


Motorists Pay Too Much Already

10 February 2005

FFNZ: Motorists Pay Too Much Already

Roading projects shouldn't suffer if the planned five-cent rise in petrol is delayed, said Charlie Pedersen, Vice President of Federated Farmers of New Zealand (Inc)

Finance Minister Michael Cullen has indicated that the Government may delay the planned April fuel tax increase.

"The answer is simple. The Government should just reduce the amount of fuel excise it diverts into the consolidated fund by five cents a litre to make up the shortage."

Currently 18.5 cents of the 36 cents (plus GST) a litre fuel excise paid by motorists is siphoned into Government funds and used for other purposes.

"If Dr Cullen reduced the amount taken from motorists then much needed road projects could go ahead without increasing petrol prices.

"The old chestnut that the Government needs the money for schools and hospitals doesn't wash when it has billions of dollars of surplus funds in its coffers.

"Federated Farmers challenges the Government to act in the interests of the country and think like investors and not accountants," said Mr Pedersen.

ENDS

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Nurofen Promotion: Reckitt Benckiser To Plead Guilty To Misleading Ads

Reckitt Benckiser (New Zealand) intends to plead guilty to charges of misleading consumers over the way it promoted a range of Nurofen products, the Commerce Commission says. More>>

ALSO:

Half A Billion Accounts: Yahoo Confirms Huge Data Breach

The account information may have included names, email addresses, telephone numbers, dates of birth, hashed passwords (the vast majority with bcrypt) and, in some cases, encrypted or unencrypted security questions and answers. More>>

Rural Branches: Westpac To Close 19 Branches, ANZ Looks At 7

Westpac confirms it will close nineteen branches across the country; ANZ closes its Ngaruawahia branch and is consulting on plans to close six more branches; The bank workers union says many of its members are nervous about their futures and asking ... More>>

Interest Rates: RBNZ's Wheeler Keeps OCR At 2%

Reserve Bank governor Graeme Wheeler kept the official cash rate at 2 percent and said more easing will be needed to get inflation back within the target band. More>>

ALSO:

Half Full: Fonterra Raises Forecast Payout As Global Supply Shrinks

Fonterra Cooperative Group, the dairy processor which will announce annual earnings tomorrow, hiked its forecast payout to farmers by 50 cents per kilogram of milk solids as global supply continues to decline, helping prop up dairy prices. More>>

ALSO:

Results:

Meat Trade: Silver Fern Farms Gets Green Light For Shanghai Maling Deal

The government has given the green light for China's Shanghai Maling Aquarius to acquire half of Silver Fern Farms, New Zealand's biggest meat company, with ministers satisfied it will deliver "substantial and identifiable benefit". More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news