INDEPENDENT NEWS

IRD correct - Hide

Published: Wed 22 Dec 1999 05:03 PM
IRD correct - Hide
Wednesday 22nd Dec 1999
Rodney Hide
Media Release -- Economy
ACT Finance spokesman Rodney Hide said today that the Inland Revenue Department was correct in warning the new Government of the dangers of hiking the top rate of income tax.
"The IRD are right in their briefing papers. Hiking the top rate of tax will increase disincentives to save and invest, distort investment and increase compliance and administration costs.
"I just hope Dr Cullen listens to sound advice and cans his dopey policy of soaking the rich," Mr Hide said.
ENDS
For more information visit ACT online at http://www.act.org.nz or contact the ACT Parliamentary Office at act@parliament.govt.nz.

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