9 October 2001 Media Statement

Use-of-money interest rates to drop

The use-of-money interest rates on underpayments and overpayments of tax and duties are to drop in line with market rates, Revenue Minister Michael Cullen announced today.

The rate for underpayments will decrease from 12.62 per cent to 11.93 per cent. The rate for overpayments will decrease from 5.74 per cent to 4.83 per cent.

The new rates will apply from 8 November 2001.

The rates are reviewed regularly to ensure they are in line with market interest rates, Dr Cullen said. The new rates are consistent with the base lending rate and the 90-day bill rate.

The rates were changed by Order in Council today.

ENDS

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Gordon Campbell: On the Sony cyber attack

Given the layers of meta-irony involved, the saga of the Sony cyber attack seemed at the outset more like a snarky European art film than a popcorn entry at the multiplex.

Yet now with (a) President Barack Obama weighing in on the side of artistic freedom and calling for the US to make a ‘proportionate response’quickly followed by (b) North Korea’s entire Internet service going down, and with both these events being followed by (c) Sony deciding to backtrack and release The Interview film that had made it a target for the dastardly North Koreans in the first place, then ay caramba…the whole world will now be watching how this affair pans out. More>>