New Party Calls for Complete Tax Overhaul

September 6, 2011 New Zealand Taxation

New Zealand taxWith the merger of two minor political parties, a call has been raised for a complete reform of the national tax system, and a removal of almost all currently instated taxes.

In a press release issued on September 5th the Republic of New Zealand Party and the OURNZ party announced that they will soon combine, and run as one party for the upcoming national elections. The soon to be instated restructuring of the parties will renew their push towards a vast overhaul of the country’s tax system.

The newly formed party will follow the OURNZ party’s policy of pursuing an encompassing financial transactions tax in New Zealand. OURNZ Party co-leader Kelvyn Alp claims that New Zealand will move out of economic stagnation if all taxes are replaced with a 1 percent tax on all bank transactions. The new tax will be accompanied by a complete removal of personal income taxes, corporate income taxes, consumption taxes, and a series of other “hidden taxes”.

OURNZ claims that the new measure will raise enough revenues to cover government expenditures, along with the extra funds needed to fuel the newly formed party’s visions for political reform. In addition, the proposed 1 percent tax will result in higher employment levels, and lower welfare dependence.

Commenting on the merger of the Republic of New Zealand Party and the OURNZ, Kerry Bevin, leader of the Republic of New Zealand party, said, “…we will advance the ideal of our country as a Republic with Our NZ. Kelvyn’s vision makes him a leader for the future.”

Photo by yum9me