Tax Review Issues Deserve To Be Debated

For immediate release 28 June 2001

Tax Review Issues Deserve To Be Debated Says Institute

The Institute of Chartered Accountants says it is disappointed that the Tax Review 2001 report appears to have been dismissed without the opportunity for serious consideration and debate.

“The Institute believes that it is in the national interest to engage in constructive and open debate about the issues raised by the McLeod Tax Review,” the Institute’s President, Owen Williams, said today.

“Tax policy is too important to the national well-being to be handled lightly.”

Mr Williams said the review team’s task was to take a fresh look the country’s taxation system and come up with some alternatives.

“That’s exactly what they have done. A natural part of that process is to challenge existing approaches.

“It should be remembered that the issues paper is not trying to present a final word. It refers to letting evidence speak for itself, testing inherited conventions, and vigorously testing the report against further submissions before presenting final recommendations.”

Mr Williams said the Institute understood the public’s concern about some of the ideas raised in the report, but good policy could only be achieved through constructive debate.

“The report should not be discarded because some of the findings are controversial or one is deemed to electorally unappealing. All aspects should be fully debated before final decisions are reached.

“The Institute hopes that in coming days genuine debate will be possible, and that it is reported in a balanced and complete manner for the benefit of the nation.”

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