Cullen: Why I won't cut taxes
Tuesday 25 May 2004
Finance Minister Michael Cullen has laid down the gauntlet to businesses clamouring for a tax cut: would they prefer the payroll or capital gains taxes companies face in other countries?
By The LandlordCullen yesterday made it clear neither a company tax cut nor lower personal income tax rates will feature in tomorrow's Budget.
In an interview with the Herald yesterday he explained why.
"It is really [just] an assertion that a company tax rate cut would lift the rate of economic growth. No one has actually demonstrated it.
Read More - Opens in a new window
Commenting is closed
Auckland’s housing market saw another slump in sales volumes in May but prices are holding steady, according to the city’s largest real estate agency.
Periods of house price decline are rare and "short-lived", says economist Tony Alexander, amid forecasts of a drop of 10%-15% this year.
The Reserve Bank says the commercial property sector is vulnerable to the Covid-19 crisis. But PMG Funds' chief executive believes that while there’ll be short-term pain, the biggest long-term impact will be structural change.
Banks have not relaxed loan-to-value ratio limits for investors, despite the Reserve Bank's move to scrap LVR rules.