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Emissions Trading Scheme is a New Tax
Emissions Trading Scheme is a New
Tax
The Auckland Chamber is encouraging businesses to email the Prime Minister and express their concerns on the new tax that will be imposed on them on July 1st.
The proposed Emissions Trade Scheme will increase business costs by between 3% and 5% which Chamber CEO Michael Barnett says will be difficult to recover in a subdued market. Add to this the fact that our trading partners wont have the same cost, you can expect our exporters’ competitiveness to be affected as well, he says.
Mr Barnett also suggests that research shows an economic recovery poses more risks to business than a recession, as growing demand puts a strain on working capital requirements at a time when access to credit is constrained and debt is already high.
To introduce a new tax in this environment when there is no need or no urgency is wrong, Mr Barnett said.
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