Wednesday, 1 February 2006

Revenue Minister confirms tax reform well on track

Revenue Minister Peter Dunne confirmed today that the process of business tax reform, as agreed between Labour and United Future in their confidence and supply agreement, is well underway.

"Some commentators appear to have misinterpreted perfectly accurate remarks made by Finance Minister, Dr Michael Cullen, on Morning Report this morning as meaning that business tax reform has been put in the 'far-distant, too-hard, never-happen' basket.

"One report says the Government will begin a review of the business tax regime this year."

Mr Dunne said "In fact, the review began some months ago and is the subject of ongoing intensive work by officials.

"We are serious about achieving significant tax reform and as Dr Cullen has rightly indicated, this means there is no single silver bullet solution.

"Getting it right will take some time for consultation, legislation and implementation which means an effective date of April 2008 is not unrealistic or evidence of foot-dragging," said Mr Dunne.

ENDS

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