Rt Hon Winston Peters
New Zealand First Leader
Member of Parliament for Northland
18 AUGUST 2017

National Government Wimps Out to Giant Multinationals

The government has been leaned on by giant multinational bully boys and buckled feebly, says New Zealand First Leader and Northland Member of Parliament, Rt Hon Winston Peters.

“Multinationals are evading paying tax of between $7 billion to $10 billion a year in New Zealand; it’s a rort – they’re getting away with it and the government is letting them,” Mr Peters told a public meeting in Tauranga today.

“Some United States cloak and dagger outfit, the Digital Economy Group, has pressured the New Zealand government and succeeded.

“The so-called crusher, Revenue Minister Judith Collins, has gone soft while Finance Minister Steven Joyce has always been a slave of big business.

“They tell the public they are slaying these dragons, but the truth is the opposite story.

“Given the Labour Party’s already announced policy on taxing multinational corporations to raise $200 million, it seems that like the National government they have already caved in even without having discussions with the secretive international group.

“These multinationals are making a killing in New Zealand and laughing all the way to the bank.

“In 2014 we had 20 multinational companies paying just $1.8 million in income tax while nearly $10 billion in annual sales in New Zealand was recorded.

“New Zealand companies say they miss out on investment opportunities here because overseas competitors abusing our tax system have an unfair advantage.

“The laws must be tightened as soon as possible,” says Mr Peters.

ENDS

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