Cullen’s Budget a sick joke

Rodney Hide
Thursday, 19 May 2005
Press Releases - Taxation

ACT Leader Rodney Hide today attacked Finance Minister Michael Cullen’s election year budget as a sick joke, lacking any vision or ambition for New Zealand.

“New Zealand deserves better than this. We need a ten-year vision of how New Zealand can succeed and prosper in the world economy. Instead we get trivial tinkering and wasted opportunity.

“Michael Cullen has ripped off New Zealand workers once again.

“He could have slashed taxes to just two rates, 25% above $38,000 and 15% below that, locking in higher growth rates and securing New Zealand’s future prosperity.

“The inflation adjustments aren’t tax cuts at all. They are six years too late and don’t kick in for three years.

“Someone on the average wage will only benefit by $6 a week – in three years time – April Fools Day 2008.

“There is no tax cut for business, just a tweaking of depreciation schedules. To offset that change we have the carbon charge. The total value of this Claytons tax cut is less than $100 million in three years time – about one percent of the total company tax take.

“The Labour Government has clearly run out of ideas, energy and time. This is a do nothing budget.

“A tax cut across the board for New Zealand’s over-taxed workers has been earned, is long overdue and should have been delivered,” Mr Hide said.

ENDS

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