Parliament

Gordon Campbell | Parliament TV | Parliament Today | Video | Questions Of the Day | Search

 

Review of corporate tax regime on the agenda

16 November 2005

Review of corporate tax regime on the agenda

“The concerns raised by the Treasury and Inland Revenue regarding company tax will inform the government’s planned review of the business tax regime,” Finance Minister Michael Cullen said today.

He was commenting on the IRD’s and the Treasury’s briefings to the incoming government.

“The terms for the review are still being drawn up but will reflect the government’s commitment to give better incentives for productivity gains and improved competitiveness with Australia.”

Dr Cullen said that there were tensions within the Treasury paper which seemed to be inviting the government to make large reductions to the top personal tax rates while also reducing the size of future budgets and maintaining a stable debt to GDP ratio.

“This would seem to imply that I simultaneously loosen and tighten fiscal policy while also broadly maintaining current fiscal settings.

“As Treasury itself observes, the ageing population will put pressure on the fiscal position and strong fiscal positions can deteriorate quickly. That is why the manifesto Labour took into the election campaign was the most fiscally responsible of any party and why we will continue to run a prudent and consistent fiscal strategy.

“The government will not be undermining the platform of fiscal stability and strength that we have built up over the past six years. The mission this government has set itself, as spelt out in the Speech from the Throne last week, is to lift the quality of life and standard of living of all New Zealanders.

“To achieve that we need to lift labour productivity, improve the skills base of the workforce, protect environmental values and raise sufficient tax to support quality public health and education services and to provide security in retirement,” Dr Cullen said.

The Treasury briefing paper is available at:

  • http://www.treasury.govt.nz/briefings/
  • ENDS

    © Scoop Media

     
     
     
    Parliament Headlines | Politics Headlines | Regional Headlines

    Gordon Campbell: On The Case For Nationalising Our Urban Bus Services


    When it comes to funding and managing public transport, should local government or central government bear most of the responsibility for delivering a quality service? Ratepayers or taxpayers? Those basic questions re-surfaced yesterday, after the government announced its intention to scrap the Public Transport Operating Model (PTOM) imposed by the last National government in 2013. That model had required councils to use private contractors to run the buses, via a cut-throat competitive tendering process...
    More>>




     
     

    Privacy Commissioner: Public Input Sought To Inform Privacy Rules For Biometrics
    Privacy Commissioner Michael Webster is encouraging New Zealanders to have their say on the use of biometric information in Aotearoa New Zealand... More>>

    National: Food Prices Climb Taking Kiwis Backwards
    Kiwi families continue to battle runaway food prices, National’s Finance spokesperson Nicola Willis says... More>>



    Transport & Infrastructure: Have Your Say On The Future Of Inter-regional Passenger Rail In New Zealand

    The Transport and Infrastructure Committee has opened an inquiry into the future of inter-regional passenger rail in New Zealand. The aim of the inquiry is to find out what the future could hold for inter-regional passenger rail... More>>



    Government: Creating Sustainable Public Transport For All
    Workers and public transport users are at the heart of the new Sustainable Public Transport Framework, Transport Minister Michael Wood announced today... More>>

    Government: Tax Break To Boost Long-term Rental Supply
    The Government is encouraging more long-term rental options by giving developers tax relief for as long as the homes are held as long-term rentals, the Housing Minister Megan Woods has announced... More>>


    National: NZ Migrant Arrivals Hit Lowest Mark Since 1990s
    Today’s net migration figures show that Labour has failed to deliver the desperately needed skilled migrants they promised, meaning labour shortages will persist into the future, National’s Immigration spokesperson Erica Stanford says... More>>


     
     
     
     
     
     

    LATEST HEADLINES

    • PARLIAMENT
    • POLITICS
    • REGIONAL
     
     

    InfoPages News Channels