Gordon Campbell | Parliament TV | Parliament Today | Video | Questions Of the Day | Search

 


Tax changes draconian, costly and unnecessary

Friday 18th Feb 2000
Rodney Hide
Media Release -- Economy

ACT Finance spokesman Rodney Hide said today that the tax changes Dr Cullen proposed today were "draconian, costly and unnecessary". "The ACT party told Hon Dr Michael Cullen of these problems when he rushed his silly tax hike through Parliament under urgency just before Christmas. He's now having to pass even more legislation to fix it up. He still hasn't solved the problems he has created in the tax system by upping the rate to 39 cents for no other reason than to hit those this government declares to be rich. "It's draconian of the Government to be declaring that there is a 'right' amount of savings each week and that any amount above a mandated cap will attract a higher tax rate. "It's draconian too that Dr Cullen is considering taxing superannuation savings at a higher rate if they aren't locked up for a time period the Government mandates. "The changes will prove costly. Superannuation plans will have to re-written. The tax laws will become even more complicated. "These changes are all unnecessary. They follow directly from Hon Dr Cullen's push to soak "the rich" which at best will boost the Government coffers by only one percent. "Once again, the Hon Dr Cullen has failed to think through his policy. He has failed to grasp the impact his policy will have on business, jobs and now on the savings industry," said Rodney Hide.

ENDS

For more information visit ACT online at http://www.act.org.nz or contact the ACT Parliamentary Office at act@parliament.govt.nz.


© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

 

Sector Opposes Bill: Local Government Bill Timeframe Extended

The Minister of Local Government Peseta Sam Lotu-Iiga has asked the Select Committee to extend the report back date for the Local Government Act 2002 Amendment Bill (No 2). More>>

ALSO:

Breed Laws Don’t Work: Vets On New National Dog Control Plan

It is pleasing therefore to see Louise Upston Associate Minister for Local Government calling for a comprehensive solution... However, relying on breed specific laws to manage dog aggression will not work. More>>

ALSO:

Not Waiting On Select Committee: Green Party Releases Medically-Assisted Dying Policy

“Adults with a terminal illness should have the right to choose a medically assisted death,” Green Party health spokesperson Kevin Hague said. “The Green Party does not support extending assisted dying to people who aren't terminally ill because we can’t be confident that this won't further marginalise the lives of people with disabilities." More>>

ALSO:

General Election Review: Changes To Electoral Act Introduced

More effective systems in polling places and earlier counting of advanced votes are on their way through proposed changes to our electoral laws, Justice Minister Amy Adams says. More>>

Gordon Campbell: On Our Posturing At The UN

In New York, Key basically took an old May 2 Washington Post article written by Barack Obama, recycled it back to the Americans, and still scored headlines here at home… We’ve had a double serving of this kind of comfort food. More>>

ALSO:

Treaty Settlements: Bills Delayed As NZ First Pulls Support

Ngāruahine, Te Atiawa and Taranaki are reeling today as they learnt that the third and final readings of each Iwi’s Historical Treaty Settlement Bills scheduled for this Friday, have been put in jeopardy by the actions of NZ First. More>>

ALSO:

Gordon Campbell: On The Damage De-Regulation Is Doing To Fisheries And Education, Plus Kate Tempest

Our faith in the benign workings of the market – and of the light-handed regulation that goes with it – has had a body count. Back in 1992, the free market friendly Health Safety and Employment Act gutted the labour inspectorate and turned forestry, mining and other workplace sites into death traps, long before the Pike River disaster. More>>

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
 
Parliament
Search Scoop  
 
 
Powered by Vodafone
NZ independent news