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Treasury Right, Cullen Wrong

17 November 2005 PR 145/05

Treasury Right, Cullen Wrong

Treasury is not the one full of wind on tax cuts, said Don Nicolson, Vice President of Federated Farmers of New Zealand (Inc).

“Ministers must stop belching nonsense. Far from being an ‘ideological burp’, the Treasury advice to cut taxes is moderate and sensible.

“One has to go back more than 20 years to see a government so trenchantly opposed to the sage advice of its Treasury officials. That's scary, indeed,” Mr Nicolson said.

"The three key challenges identified must be addressed – these are enhancing productivity growth, maintaining fiscal stability, and lifting the performance of the public sector.

“Constraining growth in government spending and getting better value for money from that spending will allow for a lower rate, flatter tax structure. These are the best ways to meet the three challenges while allowing the vast majority of hard working New Zealanders to invest in their businesses or save for their retirement.

“The best way to grow an economy is to let New Zealanders keep a greater proportion of their earnings, rather than hand it to an all-knowing government to spend on their behalf.

“We can only hope that the government’s upcoming review of business tax is not made pointless by a preconceived bias against tax cuts,” concluded Mr Nicolson.

ENDS

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