INDEPENDENT NEWS

NZ Not Smart To Raise Tax As Oz Drops

Published: Fri 26 Nov 1999 09:15 AM
MEDIA RELEASE
Thursday 23 November 1999
AUSSIE TO DROP TAX - NEW ZEALAND NOT SMART TO RAISE IT
"Yet another country is cutting taxes," Employers' Federation CEO, Steve Marshall said today, "At the same time, some politicians in New Zealand want to raise taxes."
Mr. Marshall was commenting on Australia's decision to cut its corporate rate of tax.
"Australia's move follows recent moves by other countries to drop their tax rates. Recently both Germany's Chancellor Schroeder and British Labour Prime Minister, Tony Blair, jointly announced support for lower taxes.
"Whether some politicians like it or not, taxation is critical to growth and more jobs. It is difficult to understand why some political parties are pushing to raise tax rates when our trading partners are lowering them.
"And now with our biggest trading partner dropping its rate, New Zealand simply cannot afford to put tax rates up. Raising them is not a smart move.
"Comparisons between New Zealand's and other OECD countries' personal tax rates are misleading when you consider, for example, that the top rate in the United States is 39.6% but it only applies when someone's income is over $480,000. In Japan the top rate is 50% but that only cuts in at $475,000," Mr. Marshall concluded.
Contact: Steve Marshall, CEO
Conor English, Manager Corporate Communications
Ph 04 499 4111

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