National Party Finance spokesman John Key says there is
mounting evidence that Labour Finance Minister Michael
Cullen agreed to look the other way on a controversial
Transpower tax deal.
“According to reports today, Dr
Cullen appears to have accepted the advice of Treasury in
that it would have been unwise to ask too many questions of
the SOE in relation to its tax dealings through the Cayman
Islands.
“It has been revealed that New Zealand officials
knew these sorts of deals were about to be outlawed in the
US, but the Government-owned energy company went ahead with
it regardless.
“Dr Cullen rubbished me for raising this
issue, and now he has written to all SOEs in what appears to
be a blatant contradiction of his earlier public
statements. That hardly inspires confidence!
“This is
becoming increasingly murky. The Finance Minister should
tell us whether he would support New Zealand investors
avoiding tax in the same way,” says Mr Key.
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