29 April 2005

Hon Matt Robson MP, Progressive Deputy Leader

Cut to business costs good, next target: company tax rate

The Progressive Party is campaigning in September's general election to cut the company tax rate to match Australia's headline rate as a logical next step to add to the positive tax changes for business being implemented by the government, says Progressive MP Matt Robson.

"New Zealand's economy has been turned around under this government over the past five years or so. We are now beating the Australians at creating jobs and wealth, and the Progressive Party wants to ensure we keep on beating them," Matt Robson said.

"In government we work to promote innovation and enterprise, deepen our links to world markets, ensure regions and strategic industries have a plan to build on their strengths, and we promote skills for workers and improved infrastructure.

"Because our coalition government's economic management has been successful, we can and should next cut the company tax rate to do even more to maintain our five-year winning performance against the Aussies," the Progressive MP said.

The finance minister, Michael Cullen, earlier today announced that a Taxation Bill will be introduced to Parliament in May containing measures to simplify tax and reduce business compliance costs for small to medium sized firms.

A further tax package to assist business and economic growth will be detailed in the May 19 budget.

ENDS

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