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

 


Bill English Accidentally Endorses ACT Policies

Bill English Accidentally Endorses ACT Policies

“Bill English has accidentally endorsed ACT’s tax policy. We aim to cut the company tax rate from 28% to 20% next year and to 12.5% by 2020” said ACT Leader Dr Jamie Whyte .

Mr English does not deny that lowering the company tax rate will increase growth, create jobs and lift real wages. How could he when that is what all the research shows?

Instead, he quibbles that the top rate of personal income tax and the company rate should not be very different: “You just invite people to dodge taxes by setting up structures that make them look like companies instead of people.”

That does indeed happen. But there are two problems with Mr English’s objection.

“The first is that the small economic cost of such behaviour is swamped by the massive benefits of reducing the corporate tax rate. “

“The second is that our tax proposals will close the gap between the corporate and personal rates. Today the top rate of personal income tax is 33% and the company rate is 28%: a gap of 5 percentage points. On our fully costed tax proposal, in 2015 the top personal tax rate will be 24% and the corporate rate will be 20%: a gap of 4 percentage points.”

Dr Whyte said “ACT is grateful to Mr English for drawing attention to an additional benefit of our tax policy.”

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

 

Gordon Campbell: On Bank Scandals (And Air Crashes)

Last month, the Australian Securities and Investment Commission (ASIC) filed proceedings against Westpac over activities that have some distinct echoes of the Libor scandal. More>>

Budget: Health Funding Must Keep Up With Need

NZNO: “The nursing team has been doing more with less for years. It’s getting to the point that we’re really worried about our colleagues, our patients, our jobs and the level of health care available for people in our country." More>>

ALSO:

Emissions Inventory: Time For The Government To Do The Right Thing

It’s time for the National Government to step up and do the right thing to reduce climate pollution as data shows New Zealand’s greenhouse gas emissions are higher than ever, the Green Party said today. More>>

ALSO:

Budget 2016: More Partnership Schools To Open

Seven new schools will join the eight Partnership Schools already open, along with further new schools opening in 2017. “The growth of this policy is a reflection of the high level of interest from educators and community leaders,” Mr Seymour says. More>>

ALSO:

No Correspondence With English: Did Brownlee Make Up Sale Of Navy Ships ‘On The Hoof?’

Having revealed that several Royal New Zealand Navy vessels have not left port in years, New Zealand First is now asking the Minister of Defence to prove he did not come up with the idea of selling HMNZS Taupo and Pukaki until the media asked him. More>>

Housing Plans: Labour- Abolish Auckland Urban Boundary
The Government should rule out any possibility of an urban growth boundary in Auckland Council’s Unitary Plan if it is serious about fixing the housing crisis. More>>
Greens - State House Solution
The Homes Not Cars policy allows Housing New Zealand to retain its dividend and, in addition, would refund its tax, to spend on the emergency building of around 450 new state houses. More>>

ALSO:

Houses And Taxes: Post-Cabinet, Pre-Budget Press Conference

The Prime Minister said that the pre-budget announcements showed that his Government is “investing in a growing economy”. He re-affirmed the National Government’s commitment to lowering personal tax rates but that any such change must fit with the fiscal reality of the time. More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
 
Politics
Search Scoop  
 
 
Powered by Vodafone
NZ independent news