The five-member panel to conduct the Ministerial Review into the Tax System will be announced tomorrow, 5 October.

The press conference will be held in the office of Finance and Revenue Minister Michael Cullen, 7.4 The Beehive, at 3pm.

The Review's full terms of reference will also be released.

"One of my key objectives in establishing the Review is to create a forum in which the important tax policy issues facing New Zealand can be debated and discussed," Dr Cullen said.

"We want the process to be as transparent and open as possible.

"The Review will be independent and has been given a comprehensive brief. Its report and its recommendations will be made public, and no significant new taxes will be introduced without first seeking a mandate from the electorate through the 2002 general election."

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