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Taxpayers’ Union welcomes Peters' business tax policy

Taxpayers’ Union welcomes Peters' business tax policy

23 AUGUST 2017

The Taxpayers’ Union is welcoming NZ First leader Winston Peters' business tax policy announced at today's Business NZ Election Conference, specify the pledge to cut the corporate tax to 25 percent.

Jordan Williams, Executive Director of the Taxpayers’ Union, said: “New Zealand’s company tax rate is now well out of step with the rest of the world. It needs to come down for NZ Inc to remain competitive. This announcement will be welcomed by the business community and today’s PREFU shows that tax cuts are more than affordable.”

“We also welcome NZ First’s pledge to scrap the ridiculous government R&D grant schemes such as Callaghan Innovation. While we think Mr Peters' proposed 125 to 200 percent tax credit on R&D risks gaming, in comparison to bureaucrats picking winners in awarding grants, it is a lesser evil.”

ENDS

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