INDEPENDENT NEWS

483 days of uncertainty for nothing

Published: Wed 17 Apr 2019 03:17 PM
“Taxpayers will be relieved at the news the Government has backed down on a comprehensive capital gains tax”, says ACT Leader David Seymour.
“But the uncertainty created by the Government will have done real harm to the economy.
“The Tax Working Group process has put small business owners, farmers, KiwiSavers, and others through months of anxiety.
“People have held off investments. Business confidence has plummeted. New Zealanders have been rightly concerned about the future of our country. This has all been for nothing.
“Today's backdown is due in no small part to Kiwis getting involved and telling the Government very clearly they didn’t want this tax. Almost 5,000 New Zealanders signed up to ACT’s anti-capital gains tax campaign.
“This decision shows just how similar the Labour and National parties are, particularly on tax. Labour campaigns from the left, and National from the right, but both ultimately govern from the centre. The end result is a heavier tax burden for New Zealanders.
“National and Labour are equally responsible for ever-growing fuel taxes, and both appear comfortable with the State taking the equivalent of a third of GDP in tax.
“Since 2015, Labour and National have been able to agree on a ‘bright-line test’ capital gains tax, with the only disagreement being over the time period to which it should apply.
“ACT is the only political party that has been consistently opposed to all forms of capital taxation.”
ends

Next in New Zealand politics

Gordon Campbell on the Commerce Commission fuel report
By: Gordon Campbell
Bill to allow licensed premises to stay open for RWC matches
By: New Zealand Government
KiwiBuild programme losing another top boss
By: RNZ
Helping our cities grow up and out
By: New Zealand Government
Ngāpuhi elder 'shocked' by conditions at Ngawha Prison
By: RNZ
Independent election policy costing unit a step closer
By: New Zealand Government
Primary and intermediate principals vote to accept new offer
By: NZEI
Breach of 'journalistic privilege' during unlawful search
By: Independent Police Conduct Authority
BSA releases decisions on coverage of mosque attacks
By: Broadcasting Standards Authority
UPDATE: Lack of fuel competition may be costing $400m
By: BusinessDesk
Breaking wholesale stranglehold on petrol supply
By: BusinessDesk
Commission releases draft report on retail fuel market
By: Commerce Commission
CommComm report will lead to more regulation, but same price
By: ACT New Zealand
MTA pumped with fuel market study findings
By: Motor Trade Association
Oil reserves budget blow out reason for quiet levy increase
By: NZ Energy and Environment Business Week
View as: DESKTOP | MOBILEWe're in BETA! Send Feedback © Scoop Media