Media Release

25 July 2006

Tax Policy Paper Good for Business

New Zealand First says that the range of options being put forward in the policy paper on business tax announced today is a huge step in the right direction.

"From the option of the 3% cut in the company tax rate, which would bring us into line with Australia, through to tax cuts for key sectors groups, in particular exporters, and the cutting of red tape, the business sector can now have an open and honest discussion about those options that will improve New Zealand's long term growth,” said New Zealand First Economic Development spokesperson Doug Woolerton.

“Progress on this front was a critical part of New Zealand First's confidence and supply agreement with the government. The promotion of long-term growth impacts on our capacity to provide the living standards, social and other government services which the New Zealand public expects.

We now encourage the business community to play an active role in providing feedback on the matters outlined in the paper, particularly their highest priorities, prior to the 8 September deadline.

This is a positive first step, which will lead to a great outcome for New Zealand businesses as they become engaged with the government in refining its policy. It demonstrates that when parties work together for the good of the country then positive outcomes eventuate, and New Zealand First is pleased to play its constructive part in this process,” concluded Mr Woolerton.

ENDS

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