Chamber Supports Moves to a Growth Enhancing Tax System

The Government’s intentions to stop tinkering with the tax system and create one that is certain and easy to comply with is a move in the right direction, said Auckland Chamber CEO Michael Barnett.

Successive governments have said they want a low rate tax system that is broadly based. The high level intentions in the Prime Minister’s Statement to Parliament to reduce taxes across the board and collect more through a rise in GST will give New Zealanders more choice.

“Aligning the top rate of tax across all areas will help achieve the Government’s aim of a tax system that is fair but also harder to avoid,” he concluded.

The proof of success from the Prime Minister’s statement will be in the detail in the Budget and the commitment from Government to deliver.

Business will be greatly encouraged by Government’s focus on trade, science and innovation, an attempt to shift the focus from consumption to saving and unlocking NZ’s natural resources

The Prime Minister’s acute awareness that NZ’s wealth is ultimately generated by the private sector – small firms, big companies and sole traders – is welcome realism and a fresh signal that will undoubtedly help boost business confidence to bring about the step change in the NZ economy this Government is seeking to achieve.

ENDS

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