Parliament

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

 

Oz tax move must be seen in context

Labour
2000 web site"Australia's decision to ease the corporate tax rate down to 30 cents over the next two years must be seen in context," Labour finance spokesperson Michael Cullen said today.

"It should be remembered that Australian companies also pay a compulsory payroll tax on employee superannuation and a general capital gains tax, neither of which applies in New Zealand.

"And if tax was a crucial factor in location, we would have had a rush of Australian corporates relocating here over the last decade to take advantage of our lower taxes. Instead the traffic has been the other way," Dr Cullen said.

"At 33 cents, New Zealand's corporate tax rate is still below the OECD average. However Labour does recognise the need to remain as competitive as possible against Australia which already has the advantages a larger market and a more active and interventionist government can offer.

"A Labour Government will take a positive leadership role in the economy through our industry assistance programme. We also accept that, if the world trend toward lower corporate taxes continues, New Zealand cannot afford to swim against the tide.

"However fiscal circumstances will not permit us to lower the corporate rate in our first term and meet our other priorities.

"Labour is anxious to reverse the growing gap between rich and poor in New Zealand. To this end we are committed to reversing National's pension cuts, restoring income-related state house rentals, reducing the barriers to tertiary education and improving access to public health services.

"Those policies, and our industry assistance policy, will have first call on any new spending in the first three years," Dr Cullen said.

© Scoop Media

 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Gordon Campbell: On Why Raising Corporate Taxes Has Become A Hot New Political Cause

Surprisingly, “raising taxes” has become a very fashionable political idea in 2021. That’s right. After decades of being seen (at best) as a necessary evil, higher corporate taxes are now being treated as the Great Good Thing that will revive the US economy, re-distribute wealth productively, help to build neglected and decaying public infrastructure, fund public health, address social inequality, restore a sense of community and generally make everyone feel better about the society in which they live... More>>

 

Government: The Duke Of Edinburgh

9 April 2021 Prime Minister Jacinda Ardern today expressed New Zealand’s sorrow at the death of His Royal Highness The Prince Philip, Duke of Edinburgh. “Our thoughts are with Her Majesty The Queen at this profoundly sad time. On behalf of the New ... More>>

ALSO:

Government: Delivers Next Phase Of Climate Action

The Government is delivering on a key election commitment to tackle climate change, by banning new low and medium temperature coal-fired boilers and partnering with the private sector to help it transition away from fossil fuels. This is the first ... More>>

Government: Independent Experts To Advise On Post-Vaccination Future

The Government is acting to ensure decisions on responding to the next phase of the COVID-19 pandemic are informed by the best available scientific evidence and strategic public health advice. “New Zealand has worked towards an elimination ... More>>

Health: Drug-Testing Law To Be Made Permanent

Interim legislation that is already proving to keep people safer from drugs will be made permanent, Health Minister Andrew Little says. More>>

World Travel: New Zealand Temporarily Suspending Travel From India - PM Jacinda Ardern

Travel into New Zealand from India - including for New Zealand citizens and residents - is being temporarily suspended because of high numbers of Covid-19 cases. More>>

Finance: Crown Accounts Again Better Than Forecast

Hon Grant Robertson Minister of Finance The economic recovery from COVID-19 continues to be reflected in the Government’s books, which are again better than expected. The Crown accounts for the eight months to the end of February 2021 showed both OBEGAL ... More>>

 
 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

InfoPages News Channels