Monday 13th Mar 2000
Rodney Hide
Media Release -- Economy

ACT Finance spokesman Rodney Hide said today that Michael Cullen’s announcement of a three-tier Fringe Benefit Tax regime was yet another unnecessary complication of the tax system that would further drive up compliance costs.

“Cullen was warned of this. In opposition he fluffed and fudged the issue. Even when he rammed through his tax hike under urgency right before Christmas, he still hadn’t worked out what he was going to do about the anomalies he was creating.

“As I predicted, he is now having to fiddle with the tax rates again because of his ill-conceived and unwarranted tax hike.

“Once again, and despite his rhetoric, Dr Cullen has again hiked the cost of being in business and employing people in New Zealand,” said Rodney Hide.

ENDS

For more information visit ACT online at http://www.act.org.nz or contact the ACT Parliamentary Office at act@parliament.govt.nz.

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