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


National's proposed tax cuts good for growth

22 August 2005

National's proposed tax cuts good for growth

Today's announcement that a National-led government would lower the burden of taxation offers scope for improved productivity and growth, Business NZ says.

Business NZ Chief Executive Phil O'Reilly says New Zealand's tax levels have to be competitive internationally in order to grow the economy and provide a high standard of living.

"Reducing personal tax rates would provide incentives for individuals and families to get ahead by working hard, knowing that they will keep more of their earnings. This is preferable to turning a large segment of the working age population into beneficiaries. "The proposal to drop the company tax rate to 30% is also a welcome step towards improved competitiveness, although it would be preferable to make the change immediately rather than wait until April 2008.

"Carbon taxes would harm our ability to compete internationally, so it is positive to see a firm commitment not to impose a carbon tax.

"Overall, the policy is positive for growth, and we do not believe it would cause inflation. The reality is that increasing government expenditure is more likely to fuel inflationary pressures than tax cuts, since tax cuts would give more choices to individuals and families about how they used their money, either through savings, targeted expenditures or longer term investment."


© Scoop Media

Business Headlines | Sci-Tech Headlines


Onetai Station: Overseas Investment Office Puts Ceol & Muir On Notice

The Overseas Investment Office (OIO) has issued a formal warning to Ceol & Muir and its owners, Argentinian brothers Rafael and Federico Grozovsky, for failing to provide complete and accurate information when they applied to buy Onetai Station in 2013. More>>


Tomorrow, The UN: Feds President Takes Reins At World Farming Body

Federated Farmers president Dr William Rolleston has been appointed acting president of the World Farmers’ Organisation (WFO) at a meeting in Geneva overnight. More>>


I Sing The Highway Electric: Charge Net NZ To Connect New Zealand

BMW is turning Middle Earth electric after today announcing a substantial contribution to the charging network Charge Net NZ. This landmark partnership will enable Kiwis to drive their electric vehicles (EVs) right across New Zealand through the installation of a fast charging highway stretching from Kaitaia to Invercargill. More>>


Watch This Space: Mahia Rocket Lab Launch Site Officially Opened

Economic Development Minster Steven Joyce today opened New Zealand’s first orbital launch site, Rocket Lab Launch Complex 1, on the Mahia Peninsula on the North Island’s east coast. More>>


Marketing Rocks!
Ig Nobel Award Winners Assess The Personality Of Rocks

A Massey University marketing lecturer has received the 2016 Ig Nobel Prize for economics for a research project that asked university students to describe the “brand personalities” of three rocks. More>>


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>>


Get More From Scoop

Search Scoop  
Powered by Vodafone
NZ independent news