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


Government committed to lowering company tax rate


21 September 1999

Government committed to lowering company tax rate

Treasurer Bill English said today the Government remained firmly committed to bringing down the company tax rate to match Australian moves to lower its company tax rate to 30%.

"As I have already said, I want to maintain our tax advantage over Australia because it helps keep business and jobs in New Zealand.

"Today's announcement by the Australians makes bringing down our company tax rate the next priority for the Government and we will aim to lower it to 30%. How quickly we can reduce the rate depends on how fast the economy improves.

"The Australian move is not unexpected. The fact that the tax cut will be phased in gives us more time to respond. The Australian company rate will initially move to 34% for the 2000-01 year and then to 30% by June 31, 2001.

"The Australian tax cut will largely be paid for by scrapping accelerated depreciation and tightening tax loopholes. That confirms the view taken by the Government that tax breaks and other incentives for particular industries are less effective in encouraging business competitiveness than across-the-board tax cuts which benefit every business," said Mr English.


Internet address -

© Scoop Media

Parliament Headlines | Politics Headlines | Regional Headlines

Gordon Campbell: On The Geo-political Posturing Over China’s Cyber Hacks, Plus The Weekly Playlist

The timing was one of the weirder aspects of this week’s cyber condemnation of China by the West. Why was this piece of political theatre being staged now? China (and Russia’s) sponsoring and/or condoning of semi-state and criminal hacker groups has been known about for nigh on a decade. More particularly, Microsoft had been alerted to the flaws in its Microsoft Exchange... More>>


Government: Quarantine Free Travel With Australia Suspended

Quarantine Free Travel from all Australian states and territories to New Zealand is being suspended as the Covid situation there worsens, Prime Minister Jacinda Ardern and COVID-19 Response Minister Chris Hipkins announced today... More>>


Government: New Zealand Condemns Malicious Cyber Activity By Chinese State-sponsored Actors

New Zealand has established links between Chinese state-sponsored actors known as Advanced Persistent Threat 40 (APT40) and malicious cyber activity in New Zealand. “The GCSB has worked through a robust technical attribution process in relation to this activity. New Zealand is today joining other countries in strongly condemning this malicious activity... More>>


Government: Commits $600,000 To Flood Recovery

The Government is contributing $600,000 to help residents affected by the weekend’s violent weather with recovery efforts. Acting Minister for Emergency Management Kris Faafoi and Agriculture Minister Damien O’Connor have been in the Buller district this afternoon to assess flood damage and support the local response effort... More>>


NZUS Council: Welcomes Nomination Of Senator Tom Udall As US Ambassador To NZ

The NZUS Council welcomes the nomination of Senator Tom Udall to the role of US Ambassador to New Zealand and Samoa, NZUS Council executive director Jordan Small said... More>>

BusinessNZ: Visa Extensions Welcomed
BusinessNZ has welcomed the extension of some critical skill visa durations and changes to immigration systems to speed processing. Chief Executive Kirk Hope says move acknowledges advocacy by the hospitality sector, the BusinessNZ Network and others, and comes not a moment too soon.... More>>

Social Development: Government Initiatives Contribute To Fall In Benefit Numbers

Minister for Social Development Carmel Sepuloni has welcomed the release of the June quarter Benefit Statistics which show a continuing fall in the number of people receiving a Main Benefit... More>>




InfoPages News Channels