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Tomorrow, Cabinet must protect NZ’s economic freedom

Responding to the Heritage Foundation’s ranking of New Zealand as third in the world for economic freedom, New Zealand Taxpayers’ Union spokesman Louis Houlbrooke says:

“New Zealand’s consistently high performance on indexes of economic freedom is, in large part, thanks to our simple and relatively low-rate tax system.”

“When Cabinet tomorrow casts its eye over the Tax Working Group’s final recommendations, Ministers should be absolutely allergic to any proposal that puts this freedom at risk – such as a 33 percent capital gains tax, with a complex array of exemptions and fine print.”

The Taxpayers’ Union’s latest report, Five Rules for a Fair Capital Gains Tax, outlines criteria by which the Government should judge any capital gains tax proposal. The report is available at www.taxpayers.org.nz/five_rules.

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