Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

Treasury advice 'best practice'

17 November 2005

Treasury advice 'best practice'

Tax briefings to Government from both Treasury and Inland Revenue are examples of mainstream, 'best practice' advice, says Business NZ.

Business NZ Chief Executive Phil O'Reilly says there is nothing radical in the advice to lower company and personal tax rates.

"New Zealanders able to keep more of their own earnings will be able to invest, save and spend more - and that will stimulate our economy to higher growth.

"The last time the company tax rate was cut - in the late '80s - it actually led to a tripling of company tax revenues paid to Government*, and was a forerunner of improved economic growth in the early 1990s.

"Moreover, there is majority support in Parliament for a tax cut - 58% of MPs now in the House are members of parties that supported tax reductions as an election plank.

"Business NZ also endorses the Treasury's sensible advice on productivity, the RMA, infrastructure and skills."

ENDS


© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Hospitality NZ: Hospitality Wages Jump 9% To Pass Living Wage
Wages and salaries across the hospitality sector continue to increase despite businesses having to battle through some of the toughest trading periods in living memory... More>>



Climate Leaders Coalition: Launches New Statement Of Ambition, Appoints New CEO Convenor

The Climate Leaders Coalition is tonight officially launching a new Statement of Ambition to accelerate business action on climate change... More>>


Retail: New Law Paves Way For Greater Supermarket Competition

Legislation that bans major supermarkets from blocking their competitors’ access to land to set up new stores paves the way for greater competition in the sector, Minister of Commerce and Consumer Affairs Dr David Clark said... More>>



MYOB: New Data Shows Increase In SMEs Experiencing Stress And Anxiety

The lingering impacts of the COVID-19 pandemic have led to a surge in the number of local SME owners and operators experiencing stress and anxiety, according to new research from business management platform, MYOB... More>>



Carbonz: Cashing In On Carbon: The New Marketplace Helping Native Forest To Thrive

The country’s first voluntary carbon credit marketplace, Carbonz, is here to restore native biodiversity and help Aotearoa reach its carbon zero goals by selling the first carbon credits exclusively from native forest... More>>
Entrust District: Dividend Will Be Welcomed After Another Tough Year
We’ve all heard of the saying; “if it sounds too good to be true, it probably is” but for Aucklanders within the Entrust District, getting their share of Entrust’s 2022 annual dividend payment really is as good as it sounds... More>>