Gordon Campbell | Parliament TV | Parliament Today | News Video | Crime | Employers | Housing | Immigration | Legal | Local Govt. | Maori | Welfare | Unions | Youth | Search

 


David Cunliffe betrays his ignorance on how taxes work

David Cunliffe betrays his ignorance on how taxes work

Mr. Cunliffe said that ACT’s policy of cutting the company tax rate from 28% to 12.5% would just transfer funds to the rich.

He is wrong. Under ACT’s policies everyone will benefit and the “rich” will still pay the normal tax on their income from companies. In fact it will be the workers who will benefit most.

Obviously Mr. Cunliffe does not know that wages rise in countries with lower company tax rates (such as Canada, Denmark, Finland, the UK, Sweden, Switzerland, Iceland and Ireland) because their workers have more capital to work with.

Mr. Cunnliffe also says that ACT has got its figures wrong and the policy is uncosted.

He is wrong on that score as well.

A 12.5% Company Tax rate by 2020 will result in more investment, more jobs, higher wages and greater output. ACT calculates that the Government would get additional revenue from this increased output of $625 million.

ACT’s plan to abolish both corporate welfare and the greenhouse gas trading system will save $1.7 billion of Government expenditure.

The rest of the company tax cuts are funded by a part of the $1.5 billion new policies allowances already provided for by the National Party in each budget from 2015 onwards.

It all adds up to a dynamic boost for companies, their employees and their customers.

Mr Cunnliffe should leave doing sums to his deputy the finance spokesman Mr Parker and try and escape from his Muldoonist mindset.

ends

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Gordon Campbell: On First Time Voting (Greens)

For the last two days, I’ve turned my column over to a couple of guest columnists who are first time voters. They’ve been asked to explain why they were voting, for whom and what role they thought their parental upbringing had played in shaping their political beliefs ; and at the end, to choose a piece of music. Today’s guest columnist is Ana Avia-O’Connor, who will be casting her first time vote on Saturday for the Greens.

If I didn’t know any better, it would seem the world has conspired for me to be a Green Party voter. Parents, Green voters? Check. Participation in bilingual education that stressed the importance of inquiry, solidarity and the Treaty? Check. Some sort of vegetarian leanings (seven years and counting, jus’ sayin’)? Check. However, above all of that, I’m voting Green because I believe in supporting the importance of every New Zealander’s contribution to Aotearoa, from the hairdresser in Foxton to the fisherman in Bluff. You could say that I like the cut of the Greens’ jib. More>>

 

Parliament Today:

Big March: Call For An End To Domestic Violence

Hundreds of protesters marched down Lambton Quay to Parliament Monday calling for an end to domestic violence. Wearing white facemasks, waving banners and calling for “safety” for the women and children of New Zealand.. More>>

ALSO:

Meddling: Aussie Liberals Embroiled In Key Campaign

John Key needs to explain why Australia’s Liberal Party is interfering in New Zealand domestic politics and is encouraging Kiwi voters across the ditch to vote for National just days out from the election, Labour’s campaign spokesperson Annette King says. More>>

ALSO:

SURVEILLANCE:

Election Ad Soundtrack: Rapper Eminem Sues National Party Over Copyright Breach

US rapper Eminem is suing the New Zealand National Party for alleged copyright infringement over unauthorised use of the rapper’s ‘Lose Yourself’ song in an election campaign advertisement. More>>

ALSO:

Pre-Election Chartering: Four New Partnership Schools To Open

Education Minister Hekia Parata today announced the Government has signed contracts to open four new Partnership Schools in 2015. More>>

ALSO:

Werewolf 50 Out Now - The Election Issue: Loss Leaders

Gordon Campbell: A third term requires a mature decision, with eyes wide open. It calls for a conscious vote of confidence… Without trying hard here are about 19 reasons, in no particular order, for not ticking ‘party vote’ National. More>>

ALSO:

Not-Especially New Plans: All Prisons To Become Working Prisons Under National

All public prisons in New Zealand will become full working prisons by 2017, and ex-prisoners will receive post-release drug addiction treatment if National is returned to government, says Corrections Spokesperson Anne Tolley. More>>

ALSO:

Māngere: "False Claim Of Matai Title" - Labour

National must explain why its candidate for Māngere Misa Fia Turner appears to be using a Matai title she is not entitled to, Labour’s MP for Māngere and Pacific Islands Affairs spokesperson Su’a William Sio says. A Matai title is a legally-recognised ... More>>

ALSO:

CPAG Report: No New Zealand Child Should Grow Up In Poverty

Child Poverty Action Group's flagship policy publication Our Children, Our Choice: Priorities for Policy calls for cross party political agreement to underpin an action plan to eliminate child poverty in New Zealand. More>>

ALSO:

Gordon Campbell:
On National’s Phantom Tax Cut Package

Hmmm. So National’s tax cuts package turns out to be one of those television advertisements that screams a headline promise – perfect skin! a youth tonic that works! – while in very small print there’s an out clause: special conditions may apply. More>>

ALSO:

Water: New Marine Reserves On West Coast Opened

Five new marine reserves were officially opened by Conservation Minister Dr Nick Smith on the West Coast of the South Island to protect a range of marine ecosystems for conservation, science and recreation. More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
Politics
Search Scoop  
 
 
Powered by Vodafone
NZ independent news