MEDIA RELEASE Business
confidence shows need for urgent
30
AUGUST 2018 FOR IMMEDIATE RELEASE
With business confidence falling
further and firms’ perceptions of their own
activity sitting at its lowest level since the GFC, tax
reform to kickstart productivity and wages is urgently
needed, says the New Zealand Taxpayers’ Union.
Taxpayers’ Union Economist Joe Ascroft
says, “Businesses need more than a working group. They
need real changes in policy direction, including tax reform.
Business breakfasts with CEOs and Cabinet Ministers simply
won’t cut it for the average small
business.”
“Company tax rate cuts – accompanied by
full capital expensing – would put a rocket under business
investment and put an end to the doldrums. If focused at
measures to boost productivity, the evidence shows that tax
relief would flow through to workers in the form of higher
wages.”
Company tax issues, including full expensing of
capital, are discussed in the Taxpayers’ Union’s
submission to the Tax Working Group, available at www.taxpayers.org.nz/twg_submission.
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