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Labour's Costly Economic Vision

Wednesday 10th Nov 1999
Rodney Hide
Media Release -- Economy

ACT Finance Spokesman Rodney Hide today said that Labour's strategy for a "modern, dynamic" economy was a prescription to return to the rigid, high cost economy of New Zealand's past.

"A modern, dynamic economy requires low tax, an end to wealth-sapping red tape, businesses free to negotiate with their staff and the market driving investments not taxpayer supplied pork.

"Labour's policy is the exact reverse. Taxes are to be increased. Tariffs restored. Unions returned to the head of the negotiation table and handouts for businesses chosen by Labour. The result will be an economy that is static and stagnant.

"Businesses don't want to be taxed hard only to have a fraction handed back in business welfare. The absurdity of this policy is that Labour are promising an extra $668 million in business welfare over three years but only an extra $315 million for health.

"Labour should get the basics right for business. Low flat tax, a commitment to the ECA, competition and choice in Accident Insurance and an end to wealth sapping government red tape and bureaucracy," said Rodney Hide.


ENDS

For more information visit ACT online at http://www.act.org.nz or contact the ACT Parliamentary Office at act@parliament.govt.nz.


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