Media statement
Embargoed to 0001 hrs,
Tuesday April 1, 2008

Dunne celebrates UF achievements

UnitedFuture leader Peter Dunne is celebrating the party’s achievements that take effect today, gained through its confidence and supply agreement with the Labour-led Government.

“We have long campaigned for lower taxes and today we see the company tax come down to 30%, a major part of the Business Tax Review initiated in this term of government.

“That Review also gives a major boost to business and New Zealand’s international competitiveness through the tax credits for research and development, a system that takes effect today.

“But it doesn't end there. UnitedFuture believes the fundamental tax regime should be on a 30:30:30 basis, namely 30% company tax, 30% tax on trusts and 30% top personal tax rate.

“The move to a 30% tax rate for businesses and certain savings schemes takes us half way towards that goal and the May Budget will outline a programme of personal tax reductions in the coming years that will see us move even closer to that goal.”

Mr Dunne also highlights the UnitedFuture-led changes to the tax rules on charitable donations, taking effect today.

“By lifting the cap on tax rebates for charities, we expect to see a major boost to the country’s charitable and philanthropic sector.

“Later this month, we’ll be releasing an official discussion document on payroll-giving for charities, which will open up further channels for New Zealanders to support their favourite causes.”

Mr Dunne emphasised these multi-billion dollar changes to the tax regime have come about because of the considerable position of influence an MMP party like UnitedFuture has been able to achieve by negotiating confidence and supply agreements with the major parties in Government.

ENDS

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