Parliament

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

 

Aust tax move should be mirrored in NZ

John Key MP - National Party Finance Spokesman

27 February 2006

Aust tax move should be mirrored in NZ

An Australian Government move to appoint a committee to urgently study whether Australians are overtaxed puts New Zealand in even more danger of being left behind, says National Finance spokesman John Key.

He says the two-person committee appointed by Treasurer Peter Costello, which is charged with reporting back within five weeks, is a serious competitive challenge for New Zealand.

The committee will look at how Australia's income, business, superannuation, property, indirect and transaction taxes compare with international and regional competitors.

"This shows we should not delude ourselves about how Australia wants to ensure it keeps its edge and manufactures an environment that makes its businesses internationally competitive," says Mr Key.

"One of the most important things to consider with tax design is your relative position with other countries. This move risks putting New Zealand even further behind.

"We are simply out of step. Australia wants to do something within five weeks. We have to wait until 2008 - and even then we may not get the chewing gum tax cuts.

"They are constantly seeking to share the benefits of their economy, while the Labour-led Government here constantly seeks to spend it on ministers' pet projects.

"It is also interesting to note that at a time when New Zealand is looking to suck more and more people into a suffocating web of high effective marginal tax rates through Working for Families, the Australian Government wants to eliminate them.

"If we have had 40 per cent higher GDP growth than Australia this term, as this Government keeps claiming, then maybe Labour can explain why Australia can afford tax cuts when we can't.

"Australia now looms as an even greater competitive threat to New Zealand, and lower taxes across the Tasman will do nothing to arrest the departure of our best and brightest."

ENDS

© Scoop Media

 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Gordon Campbell: On The Peters/Ardern Triumph

There are a lot of good reasons to feel joyful about this outcome. It is what so many young voters – the best hope for the country’s future – wanted.

Far more important than the implications for the Economy Gods (is the dollar up or down?) the outcome will also mean many, many vulnerable New Zealanders will have a better life over the next three years at least.

Yet the desire for change was in the majority, across the country... More>>

ALSO:

.

 
 

Submissions Summary: The People's Commission On Public Media

This Summary is a preliminary report from the People’s Commission. It brings together views and aspirations of the hundreds of people who made submissions, attended public meetings, filled out the online survey and made speeches to our Panel. More>>

Housing Plans: Protest Over Ihumatao Development

Ihumatao in Mangere, next to the airport in Auckland, holds the archaeological remains of 1000 years of food production; from when Maori first landed in the area, through to early European settler agriculture and right up until today. More>>

ALSO:

Negotiations: What Does Winston Peters Want His Legacy To Be?

A lot of people in New Zealand seem to resent Winston Peters and the power that he appears to have. “Appears” being the operative word.. More>>

ALSO:

Contains Highly Colloquial Language: Your F**king Guide To Government Formation

The following message is in no way endorsed by the Electoral Commission. They are f**king done with this election. More>>

NZ Emissions Up 50% 1990-2013: Report Confirms CLimate Change Impacting NZ

New Zealand is seeing impacts of excess greenhouse gas emissions in our climate and oceans, according to the latest national report from the Ministry for the Environment and Stats NZ about the state of the atmosphere and climate. More>>

ALSO:

Wellington.Scoop: Arrests At Blockade Of "Weapons Expo"

“We encourage people in Wellington to get down to the Westpac Stadium now for a day of awesome peace action. There will be plenty of food, music and activities to keep us sustained through the day.” More>>

ALSO:

Rorschach Restructuring: Inland Revenue Steps Back From Psychometrics

The Public Service Association will be seeing Inland Revenue in Employment Court over its intention to psychometrically test employees reapplying for their roles at the department as part of its controversial Business Transformation restructuring plan. More>>

ALSO:

 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

Featured InfoPages

Opening the Election