Tuesday 24th Aug 1999
Richard Prebble
Media Release -- Governance & Constitution

Double standard on tax - Prebble

Parliament was amazed to learn today that Winston Peters as Treasurer was writing secret letters to the Minister of Revenue Bill Birch objecting to the closing of tax loopholes that were of benefit purely to big business who are able to claim bogus foreign tax credits.

ACT Leader Richard Prebble says the revelation shows a complete double standard on tax.

"Mr Peters in public presents himself as the scourge of big business tax avoiders but in office and in secret he acted to keep open one of the tax loopholes used for the Magnum transaction," Mr Prebble said.

"The High Court has not said that such transactions are fraudulent but that they might be. Mr Peters is making a party political point rather than taking practical steps to secure the tax base.

"It does raise the question as to whether Mr Peters has deliberately prolonged the winebox affair solely for personal party political advantage. Mr Peters appears to have a double standard on tax - one in public, and one in secret when in office."

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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