Media statement
For immediate release
Monday, 11 February 2008
Dunne pleased by business tax call
UnitedFuture leader Peter Dunne has welcomed the call by the Business Roundtable, Federated Farmers, New Zealand
Chambers of Commerce, and the New Zealand Institute of Chartered Accountants to align the top personal, business and
trust tax rates at 30 cents.
The group says the cuts planned for the 2008 Budget in May should be targeted at creating wealth not at wealth
redistribution.
The current top rate of personal tax is 39 percent for earnings above $60,000 while those earning above $38,000 bracket
pay 33 percent.
The group estimated the Government could afford $2.5 billion in tax cuts spread over a few years by lowering increases
in Government spending and borrowing for infrastructure spending.
Mr Dunne said "Bringing taxes down to 30% has long been UnitedFuture policy and I am pleased that the changes introduced
in Budget 2007 following on from the Business Tax Review undertaken as part of our confidence and supply agreement with
the government, have moved us half way in that direction.
"UnitedFuture is committed to completing that process, and to other meaningful tax reforms as well, which we will make
public in due course.
"In the meantime, in my role as Minister of Revenue, I will be working closely with the Minister of Finance on this
year's Budget tax proposals," Mr Dunne said.
ENDS