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National to increase taxes for private sector

10 September 2008 Media Statement

National to increase taxes for private sector

National is the only party that will go in to this year's election promising to increase taxes, Agriculture Minister Jim Anderton said today.

He said National's pledge to cut the tax credit for research and development would take as much as two hundred million dollars out of innovation when it is sorely needed.

"After all their rhetoric, it almost beggars belief that national is planning to increase tax for our most innovative companies and industries," Jim Anderton said.

"National's policy is explicitly to penalise businesses for doing research and development - but research and development is exactly what New Zealand needs more of to lift New Zealand's living standards.

"No other tax measure is as important for strengthening New Zealand's economy.

"No party other than National is promising to increase taxes on business - or on anyone else for that matter."


ENDS

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