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Business should look to Progressive after Tax Snub

Wednesday, 24 August 2005

Hon Matt Robson MP, Progressive Deputy Leader

Business should look to Progressive after National's tax snub


Individual businesspeople in Auckland are shocked that National won't cut the company tax rate next year even if Don Brash were to become Prime Minister, Progressive MP Matt Robson said today.

"National on Monday admitted that its programme for New Zealand doesn't include any cut to the corporate tax rate next year, or the year after that.

"The press-statement-happy business lobby groups that issue statements endorsing every second word that comes out of National Party HQ are, I believe, seriously out-of- kilter with many of their membership on this vital issue to economic development and productivity growth," the Progressive MP said.

"Look, I even heard one business lobby group bureaucrat try and trivialize the negative implications for small businesses' borrowing costs that would arise from National's massive income tax cut proposals. For goodness sake, even National admits its big income tax cuts would be part-funded by issuing more Government Debt to overseas lenders.

"Increased government bond issuance by definition means higher interest rate charges for every Kiwi mortgage holder and every small business person in New Zealand.

"I am shocked that business lobby groups, like some of the corporate bank-sponsored economists-cum-commentators that we hear so much from every election cycle, can be so unbelievably soft on National just because they might go to the same cocktail parties.

"Small businesses' interest rate bills would be higher under National because Don Brash and John Key are threatening to significantly increase Central Government's overseas borrowing programme and it is a disgrace that business lobby bureaucrats can betray small business people by staying silent on these vital issues," Matt Robson said.

"With National constantly squabbling with its allies NZ First and UFO, it is becoming increasingly clear to the practical-minded, business people that I talk to that the next coalition government is going to be led by Helen Clark.

"I say to business people that want New Zealand to maintain its six-year economic winning run against Australia to give your Party Vote to Progressive so our party can advocate for a company tax cut next year at the next coalition Cabinet table," Matt Robson said.

ENDS

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