Let’s not whack businesses (not even the big ones)

While every other party tries to score political points by lashing out at big business, ACT will make it more attractive to do business and pay tax in New Zealand.

“The Opposition’s plan for big business is to whack it – hard,” says ACT party Leader David Seymour. “National, meanwhile, will compromise and whack it softly.

“Only ACT says that New Zealand should be working to make New Zealand more attractive for businesses big and small. That means lower tax rates, and less red tape.

“Paying tax is just one way that multinational companies contribute to New Zealand. Their bigger contribution is employment opportunity, more choice for local consumers, and stronger international networks.

“New Zealand currently has the fourth highest tax on capital in the OECD. This tells businesses that they’re not welcome here.

“ACT has already shown how we could cut company tax from 28% to 25% immediately, simply by scrapping handouts to politically favoured businesses. ACT would then begin cutting company tax further, until New Zealand is competitive with other nations working to attract businesses to their shores.

“And ACT’s top personal tax rate of 25% will also be very attractive to business executives deciding where to set up shop.

“Cutting these tax rates could actually boost tax revenue by attracting new taxpaying businesses and reducing incentives to avoid tax.

“We will also fight to protect businesses’ right to access global talent, by opposing reactionary new restrictions on immigration.

“And ACT will work every day to reduce costly and illogical regulation. That’s something I’ve already done in my work as Under-Secretary for regulation, making regulatory analysis more rigorous.”

These are just some of the ideas David Seymour is sharing with businesses today at a forum organised by Facebook and a debate hosted by the Parnell Business Association.

ENDS

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