Tax discounts another red tape nightmare

National’s Associate Revenue spokesman, Brian Connell, says Labour’s latest attempt to relieve the tax burden on small business start-ups is just another reason why all taxes should be reduced.

“Instead of cherry picking what businesses it will help, Labour should simply reduce taxes for all businesses.

“Labour’s appetite for tax is insatiable and only the really gullible will be seduced by what’s on offer.

“Paying tax earlier helps the Government’s cash flow, but despite David Cunliffe’s rhetoric, it won’t help small business.

“The red tape and compliance that this extra initiative will create will soon eat up the 6.7% discount and will hurt businesses’ cash flow.

“Labour should stop playing around the margins and do what it knows it should do – lower taxes," Mr Connell says.

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