Dunne: GST transition smooth, transparent and fair

Revenue Minister Peter Dunne today said the five-month lead-in to today's GST rate rise to 15 percent had been a far better process than the six weeks' notice New Zealanders had when the rate was last increased 21 years ago.

"People and businesses have had time to adjust and prepare, and I think it has gone very smoothly and very well," Mr Dunne said.

"Last time, under Labour, it was just six weeks' notice and no compensation.

"This time there has been plenty of time to prepare, compensation for those who need it, and substantial tax cuts coming in on the same day.

"The Government has developed these tax changes in an authentic, transparent and, above all, fair way," he said.

Mr Dunne praised the work of the GST Advisory Panel, chaired by Frank Owen, saying that it had played a significant role in "smoothing the way by making sure Government was aware of and addressing any concerns and issues business had about the transition".