The National/Act government can't even keep up with the Swedish government, which is reducing taxes to cope with the recession. From their budget for 2009;
To strengthen the work-first principle and increase the labour supply, the Government proposes a third step in the in-work tax credit and a reduction in total state income tax. The proposals have an overall scope of SEK 15 billion. The three steps combined mean that approximately 97 per cent of all people in full-time work will have received tax reductions of more than SEK 1 000 a month.
The Government also presents a tax package for businesses that will lower their taxes by nearly SEK 16 billion in 2009. The aim is to strengthen incentives for companies to invest and take on new employees. The corporate tax rate will be reduced from 28 to just over 26 per cent and employers' social security contributions will be reduced by one percentage point. In addition, the administrative burden on businesses will be eased by a number of simplifications, as a step towards the Government's target of reducing the administrative burden on businesses by 25 per cent by 2010.
3 comments:
The Tories are nothing but a bunch of spineless cowards.
When comes to taxation there is little difference between Labour and National.
i'm a bit thick here but how difference is there for a 2% tax reduction on business. it doesn't sound like a lot
I am disappointed with National they seem committed to the status quo.
I now wonder what it is they stand for, is there a purpose(other than just being in power).
Is John Key our new "Nowhere Man"
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