Parliament

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

 

ACT Economy and Tax Policy

Thursday 6 Jun 2002 Richard Prebble Press Releases -- Economy

Lower taxes than Australia

Better business environment than Australia

Fast track back to first world status

Lower taxes for every worker

ACT will implement a well-designed package of tax cuts to boost growth, jobs and prosperity.

ACT policies will achieve the 4% plus growth needed to return New Zealand to the top half of OECD countries. ACT policies are pro-business (that in New Zealand means small business), pro-jobs and pro-growth. New Zealand is a trading nation in a global economy. Australia's company tax is 30 cents, i.e. 3 cents lower than New Zealand.

Under Labour, compliance costs have increased $26,000 over three years for a medium-sized business. OECD says New Zealand taxes on income and company profit are third highest in OECD.

ACT will immediately:

· Cut company tax rate from 33 cents to 28 cents - (lower than Australia).

· Reduce personal income tax from 33 and 39 cents to 28 cents, and from the present 19.5 cents to 18 cents, ie. a tax cut for all workers.

· No one will be worse off - there will be no cuts to health or education.

· Conduct a zero-based review of regulations, a Regulatory Responsibility Act - rewrite Employment Relations Act, ACC, Resource Management Act and OSH - to make business friendly.

Cost of tax package:

· $2.9 billion dollars. Paid for by cancelling Cullen's super scheme, corporate welfare for business, Maori TV, Kiwi Bank, Air New Zealand bail-out, and scrapping Closing the Gaps spending.

Benefits:

· Increased investment

· Extra jobs

· Four percent plus growth

· Greater prosperity

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

Supreme Court: Worksafe Decision On Whittall Pike River Prosecution Unlawful

The question in issue on the appeal was whether WorkSafe New Zealand acted to give effect to an unlawful agreement of this nature when it offered no evidence on charges against Peter William Whittall for breaches of the Health and Safety in Employment Act 1992...

The Supreme Court... has found that the decision to offer no evidence was made under an unlawful agreement to stifle prosecution. It has granted a declaration to that effect. More>>

 

Cullen To Chair: Tax Working Group Terms Of Reference Announced

Finance Minister Grant Robertson and Revenue Minister Stuart Nash today announced the Terms of Reference for the Tax Working Group and that the Group will be chaired by Sir Michael Cullen. More>>

ALSO:

Gordon Campbell: On The New Pike River Agency (And The Air Strike Wing)

Much of the sympathy the public still feels for the families of the Pike River miners has been sustained by the sense that the previous government – let alone the mining company and the processes of receivership and litigation – has never dealt honestly, or fairly, with them. More>>

ALSO:

Not Going Swimmingly: Contractor Cut, New Dates For Christchurch Sports Centre

“As an incoming Minister, I have been conducting a thorough review of progress on the Anchor projects and to learn of a $75 million budget blowout on this project was very disappointing..." More>>

ALSO:

Tertiary: Allowances, Loan Living Costs To Get Boost

“From 1 January, student allowance base rates and the maximum amount students can borrow for living costs will rise by a net $50 a week,” says Education Minister Chris Hipkins... further adjusted from 1 April 2018 in line with any increase in the CPI. More>>

ALSO:

Foreign Affairs: Patrick Gower Interviews Jacinda Ardern

Prime Minister Jacinda Ardern says discussions have already begun on how to bring climate change refugees into New Zealand under a Pacific seasonal employment plan... More>>

ALSO:

Gordon Campbell: On The Centre Right’s Love Of ‘Nanny State’

You’d almost think it was 2005 again. That was a time when the rugged individualists of the centre-right were being beset by government regulations on the nature of light-bulbs, the size of shower heads, the junk food available at school tuck shops and other such essentials... More>>

 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

Featured InfoPages

Opening the Election