Tax cuts great for Auckland cash registers

Media Release

Newmarket Business Association

22 August 2005

Tax cuts great for Auckland cash registers

The country’s leading shopping destination, Newmarket, welcomes National’s tax policy announced today.

“Sending less tax to Wellington and having more money spent locally will be good for every cash register in Auckland,” said Cameron Brewer, General Manager of the Newmarket Business Association.

“Economists tell us that at least 80 percent of every dollar a person gains through a tax cut will be spent on consumables. There’s no doubt that National’s tax cuts will be a significant shot in the arm to retail districts like ours.

“National’s tax cuts will give consumer confidence a lift which in turn will boost business confidence. With economic growth projected to slow considerably, across-the-board tax cuts will be a much needed remedy.

“The lowering of the corporate tax rate and the lifting of the tax thresholds is well overdue. It’s going to lead to more investment in New Zealand, will encourage more ex-pats to return, and will be a real incentive for every Kiwi to climb the ladder and get ahead,” said Mr Brewer.

ENDS

© Scoop Media