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

22/2: Christchurch Quake Memorial To Be Unveiled

A city, a region, a nation and an international community impacted by the Canterbury Earthquakes will come together tomorrow to mark the sixth anniversary of the deadly quake and dedicate Oi Manawa Canterbury Earthquake National Memorial.

The Canterbury Earthquake National Memorial Dedication and Civic Memorial Service starts at 12 noon tomorrow, February 22, at the Memorial site on the Ōtākaro/Avon River, in the area bordered by the Montreal Street Bridge, Durham Street, and Cambridge and Oxford Terraces. More>>

 

Gordon Campbell: On The Mana-Maori Party Deal

If the self-interest involved wasn’t so blatant, the electorate deal between the Maori Party and Hone Harawira would be kind of poignant. It’s a bit like seeing the remaining members of Guns’n’Roses or the Eagles back on the road touring the nostalgia circuit… playing all the old hits of Maori unity and kaupapa Maori politics. More>>

ALSO:

Private Provision: First Social Bond To Focus On Mental Health

New Zealand’s first social bond will help around 1700 people with mental illness into work, Finance Minister Steven Joyce and Social Investment Minister Amy Adams say. More>>

ALSO:

Megaupload Case: High Court Rules Dotcom, Co-Accused Eligible For Extradion

Internet entrepreneur Kim Dotcom and his three co-accused are eligible for extradition to the United States, New Zealand's High Court ruled... Justice Murray Gilbert upheld a decision by the District Court that there were grounds for Dotcom, Mathias Ortmann, Bram van der Kolk and Finn Batato to be extradited. More>>

ALSO:

PREVIOUSLY:

Immigration: Short Reprieve For Nine Indian Students

A temporary hold on deportations of nine Indian students is a step in the right direction but the Government urgently needs to implement safeguards to stop further injustices to more international students, the Green Party says. More>>

EARLIER:

Port Hills Fire: Midday Update, Monday 20 February

• 9 homes destroyed
• 2 homes with partial damage. Damage includes things like cracked windows, heat damage.
• 3 properties with damage to other external structures e.g sheds or outbuildings More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
Politics
Search Scoop  
 
 
Powered by Vodafone
NZ independent news