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 Landlord

Cullen 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.

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