Taxes Announcements Welcome

Friday, 5 November 1999, 3:46 pm
Press Release: Unknown

The President of the New Zealand Manufacturers Federation, David Moloney, today welcomed the commitments from two political parties to cut taxes, particularly business tax.

“We have consistently argued the need to stay competitive in the tax stakes, particularly with Australia,” said Mr Moloney.

“There is an equally strong case to cut taxes as soon as possible to buy time while the new enterprise policies that every major party now favours take effect.

“Tax increases do not create jobs in business or industry. Nor do they promote the growth that New Zealand needs.

“Most importantly tax cuts and good health and education outcomes are possible. Health and education have in the past, and will continue in the future, to swallow every dollar thrown at them. Simply spending more will not improve results unless we spend a lot more wisely.

“That is the real challenge for all the parties.”

ends

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