IRD correct - Hide

Wednesday 22nd Dec 1999
Rodney Hide
Media Release -- Economy

ACT Finance spokesman Rodney Hide said today that the Inland Revenue Department was correct in warning the new Government of the dangers of hiking the top rate of income tax.

"The IRD are right in their briefing papers. Hiking the top rate of tax will increase disincentives to save and invest, distort investment and increase compliance and administration costs.

"I just hope Dr Cullen listens to sound advice and cans his dopey policy of soaking the rich," Mr Hide said.

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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