Tax cuts: simpler, flatter, faster - ACT

Rodney Hide
Monday, 22 August 2005

Press Releases - Taxation

ACT Leader Rodney Hide today welcomed National's commitment to decent tax cuts for working New Zealanders.

"ACT has always argued that every worker deserves a tax break.

"ACT supports National's tax plan as good for hard-working New Zealanders and good for New Zealand.

"But it's disappointing that National has only increased tax thresholds and not cut tax rates. The politics of this is easy to see - National doesn't want to be accused of giving tax cuts to the rich. It's especially disappointing that National has left Labour's 39 cent envy tax rate in place," Mr Hide said.

"National should have been bolder and simpler.

"New Zealand needs a tax system that is simpler and flatter than National has promised and we need tax cuts now.

"It's easy to achieve. Don Brash was right when he declared the Cullen Fund "financial smoke and mirrors". The fund should be returned to hard working New Zealanders.

"Returning the Cullen Fund would improve National's tax cut plan by immediately dropping the top rate of tax to 25 cents in the dollar and the company rate of tax to 25 cents in the dollar. That's what ACT brings to the table this election," Mr Hide said.

ENDS

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