prime minister tagged posts
May 17, 2010 New Zealand Taxation
Prime Minister John Key has given strong indication that top-marginal personal tax rates will be significantly cut in the upcoming Government Budget. He justified the decision by claiming it will decrease the “brain drain” seen in New Zealand.
On May 17th John Key, Prime Minister of New Zealand, appeared in a television interview and made it clear that the upcoming budget will feature cuts to personal taxes across all levels, but with special emphasis on top-marginal rates. John Key’s comments led economist to believe that the anticipated increase in Goods and Service Tax (GST) will also be announced within the Budget, to offset the decreased tax personal tax revenues.
When questioned on the fairness of increased tax cuts for high earners, John Key claimed that the move was vital fo...Read More
February 24, 2010 New Zealand Taxation
The New Zealand Labour Party has announced that it will be launching a cross-country bus tour in protest to the National Party’s proposed Good and Service Tax rate increase.
Phil Goff, Labour Party leader, announced on February 22nd that a two week protest bus-tour will be launched on February 28th to fight the possibility of a the GST rate being raised to 15 percent. He claimed that the tour’s aim was to visit New Zealand communities and “to show them just how unfair John Key’s plans to hike GST are.” The protest plan also includes several visits to local community groups like Grey Power, Citizen’s Advice Bureau, and any local budgeting services.
While introducing his protest-bus idea, Phil Goff claimed that the National Party had not campaigned with the promise that it would raise...Read More
February 17, 2010 New Zealand Finance
New Zealand Prime Minister John Key has stated that he wishes to see the country transformed into an international financial hub, focused on the administration of overseas pension funds.
Speaking in a television interview on February 14th, John Key disclosed that the Government is investigating the possibility of creating infrastructure to facilitate and encourage the registration and administration of international pension funds within the country. The concept was suggested and detailed to the Prime Minister personally by the Capital Markets Taskforce in December 2009.
The intention is currently only in early planning stages, though John Key has said that “we are keen to take the next step...Read More
The New Zealand Business Council for Sustainable Development (NZBCSD) is encouraging New Zealander’s to focus on the long-term positive effects of tax changes and not the “day-one impacts” of any Government reform propositions.
In a press release issued on February 12th the NZBCSD has stated that they are in full support of equating top personal, corporate and trust tax rates, along with lowering across the board personal rates and broadening the tax base, while raising taxes on consumption, as proposed by Prime Minister John Key in his first statement to Parliament on February 9th. The NZBXSD claims that this would lead to a fairer and more sustainable tax system, eventually expanding the economy and drawing in greater numbers of international investors.
The NZBCSD proposed a simil...Read More