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Business tax review a damp squib

John Key MP
National Party Finance Spokesman 25 July 2006

Business tax review a damp squib

Labour’s business tax review is an underwhelming response to the economy’s obvious need for re-energised thinking and offers little in the way of solutions, says National Finance spokesman John Key.

“The Government promised a big and bold document as the centrepiece of their ‘economic transformation’. Instead, they have served up a lacklustre and unimaginative paper.

“If this is big and bold from Michael Cullen, I’d hate to see small and retiring.

“This is not going to transform the economy, and New Zealanders won’t be fooled by this feeble attempt at trying to look business friendly when the Government is not even willing to commit to how much revenue, if any, it’s prepared to forgo as part of this process.

“The most interesting part of this document is what it doesn’t contain. Michael Cullen’s long-awaited payroll tax failed to make the cut after the Prime Minister, in yet another display of her rapidly declining support for her Finance Minister, overruled his pet project.”


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