INDEPENDENT NEWS

ACT To Test Parliament On Tax Cuts

Published: Mon 14 Nov 2005 08:40 AM
ACT To Test Parliament On Tax Cuts
ACT Leader Rodney Hide said today that he would be testing Parliament's commitment to cut the company tax rate to 30 per cent during the coming debate on the Taxation (Annual Rates and Urgent Measures) Bill.
"There is a clear majority for a cut to the company rate of tax. The National Party, New Zealand First, the Maori Party, United Future, ACT and the Progressive Party all campaigned to reduce the company tax rate. That represents a total of 65 MPs out of a Parliament of 121.
"First up on the government's legislative programme is a Bill to set the rates of income tax for the 2005-06 year. I will be moving an amendment to that Bill to lower the company rate of tax - a move that should have the support of the majority of MPs in Parliament.
"It will be interesting to see if MPs vote according to their election promises.
"It will also be interesting to see if the Labour Government will let Parliament decide the issue or whether it will block any move to lower the tax burden in New Zealand by exercising a financial veto on any move to cut taxes," said Rodney Hide.
ENDS

Next in New Zealand politics

Reserve Bank To Take Account Of Housing In Decision Making
By: New Zealand Government
No new community cases of Covid-19 today - Chris Hipkins
By: RNZ
Latest Release Of Child Poverty Statistics
By: Statistics New Zealand
New Report Highlights How Our Housing Crisis Could Worsen If We Don’t Act Now
By: The New Zealand Initiative
Kiwi MPs Among The “Most Educated In The World”
By: BlacklandPR
Government Eases Visa Restrictions For Visitors In New Zealand
By: New Zealand Government
RBNZ Supports Focus On Housing
By: The Reserve Bank of New Zealand
Reserve Bank Housing Direction Too Slow In Coming
By: New Zealand National Party
Robertson Adopts ACT Policy
By: ACT New Zealand
Government Action To Cool House Prices Still Needed Despite Reserve Bank Change
By: Green Party
No indication to change alert levels at this stage - Bloomfield
By: RNZ
Second Batch Of Pfizer/BioNTech Doses Arrives Safely – As The First Vaccinations Take Place In The South Island
By: New Zealand Government
Two New Positive Community Cases –household Members Of Today’s Case
By: Ministry of Health
Corona Vaccine: Why Pharma Companies Should Not Make Billions Out Of Tax-funded Government Research
By: Creative Commons
Government Action Reduces Child Poverty
By: New Zealand Government
View as: DESKTOP | MOBILE © Scoop Media