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Whyte calls on Craig to name his flat tax rate

Whyte calls on Craig to name his flat tax rate


ACT Leader Jamie Whyte has hit out at Colin Craig for failing to name his party's suggested flat tax rate.

"Page 9 of The Press today is an advertisement for Colin Craig’s Conservative Party and their policy of having two rates of income tax: 0% up to $20,000 and a flat rate thereafter. But the ad does not specify the flat rate," said Dr Whyte.

"Will it be 20%, 30% or 40%? How can anyone evaluate the policy without knowing what the flat rate will be?

"As I have previously explained, if no reduction in income tax revenues is planned, the flat rate above $20,000 would need to be 34%. This would entail a tax increase for everyone earning over $36,000, with those earning between $40,000 and $70,000 hit hardest.

"It is amazing that Craig thinks he can proceed in this way. Imagine a bank approached you and said they had a great deal for you on your $200,000 mortgage on which you are now paying 6%. Transfer it to them and you will pay two rates: 0% on the first $100,000 and some other unspecified rate on next $100,000.

"Without being told what the rate charged on that second $100,000 is, only an idiot would even consider taking the offer. And only a company banking on the stupidity of its customers would make such an offer.

"On TV3’s The Nation on Saturday morning, Colin Craig said that ACT and the Conservatives were not chasing the same voters. He is right. Whereas he seeks votes from the terminally gullible, we seek votes from the economically literate."

ENDS

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