MSC NewsWire

Founded by Max Farndale 1947 - 2018
Tuesday, 16 August 2022 15:39
  • Home
    • About Us
    • Pricing
    • Global Presswire
    • Industry Organisations
  • News Sectors
    • Headlines Through Today
    • Environmental Talk
    • Out of The Beehive
    • Primary Sector Talk
    • Reporters Desk
    • The MSC NewsReel
    • MSCNetwork
    • FinTech Talk
    • The FactoryFloor Newsreel
    • Trade Talk
    • News Talk
    • Industry Talk
    • Technology Talk
    • Blockchain
    • Highlighted
    • The TravelDesk
      • TravelMedia
      • Sporting Tours
      • Holidays Tours Events + More
      • Airfares
      • Travel Enquiry Form
      • TravelBits
    • Travel Updates
    • The MSC TravelDesk Newsreel
    • Travel Talk
    • Travel Time
    • The Bottom Line
    • Regional News
    • News to Run Advice Form
    • World News
    • NewsDIRECT
    • MSCVoxPops
    • Press Releases
  • National Press Club
  • Contact Us

Tax fixes not rocket science

  • font size decrease font size decrease font size increase font size increase font size
  • Print
  • Email

The Council of Trade Unions today welcomed the interim report of the Tax Working Group which pointed to some obvious fixes to make New Zealand more fair and equal.

"Tax policy can be really complicated, but fairness and better sharing isn’t," Sam Huggard, CTU Secretary said. "The Tax Working Group has found that New Zealand has one of the least effective tax systems for reducing inequality among similar countries, and also one of the least effective benefit and income support systems. This is holding us back from a high-powered economy, and dragging down the health, happiness and potential of most Kiwis."

"A capital gains tax is such an obvious solution, and we are pleased it is still on the table. Independent market research shows that most people agree we need a capital gains tax."

"Most importantly, the vast majority of New Zealanders, 92%, know that our public services need more funding and two thirds of us think the Government should collect more tax overall, including by adding a further income tax bracket at the top end. We are disappointed the Working Group has failed to find ways to implement a wealth tax despite skyrocketing inequality, which makes re-balancing income taxes a no-brainer."

"If we are going to continuing relying heavily on taxes like G.S.T that hit the poorest hardest, we have to balance any new taxes like pollution taxes with better assistance and wages for already struggling families. This is why we support stronger employment law to help workers lift their incomes. We cannot rely on the tax and transfers system alone to do the heavy lifting on reducing inequality - businesses need to pay higher wages too."

"There is extremely high support in New Zealand for sourcing revenue from polluting companies, and for tightening the net on tax-dodging multi-nationals. Tax inequality in New Zealand is by design, and we have clear policy options now to make this country fairer. Most people putting in the long hours just to pay rents and mortgages will say these tax changes can’t come soon enough."

  • Source: A CTU release
Published in BUSINESS
Tagged under
  • press releases

Related items

  • XE Update Friday 30 November, 2018
  • Wellington Drive's Innovative ECR2 Motor Hits The One Million Mark
  • Plant & Food Research will welcome its 300^th summer student this week.
  • Public lecture probes health of financial system regulation
  • HiFX Data Update - RBNZ Financial Stability Report
More in this category: « Broad-based growth as GDP rises 1 percent in June quarter Amazon move into India likely to have ripple effect in NZ »
back to top
Aug 14, 2018

France to tax goods with non-recycled plastic packaging

in PACKAGING
Sep 03, 2018

Huge number of Kiwis say they will soon start structured exercising

in SPORT
Oct 25, 2018

Auckland Airport rolls out 4000 new braked baggage trolleys

in TRAVEL
Aug 20, 2018

Teachers and principals continue negotiations hopeful for progress as they enter 21st day of talks

in POLITICAL
Sep 08, 2018

Green Party calls for a Rental Warrant of Fitness to make sure all homes are warm, dry, and healthy to live in

in POLITICAL
Aug 28, 2018

New council assessments show sound council performance

in REGIONAL
Sep 26, 2018

Apple and stonefruit industry members encouraged by the release of some plants - but still a way to go

in HORTICULTURE
Aug 17, 2018

Engineers meet in Dunedin

in ENGINEERING

MSC NewsWire is a gathering place for information on the productive sector in New Zealand focusing on Manufacturing, Productive Engineering and Process Manufacturing

  • Home
  • Global Presswire
  • Industry Organisations
  • National Press Club
  • Disclaimer
  • About Us
  • Pricing
  • Sitemap
Copyright © 2022 MSC NewsWire. All Rights Reserved.
Site Built & Hosted by iSystems Limited
Top
The MSC TravelDesk Newsreel