'Another tax is not a plan for growth.... ' - Michael Barnett

“If New Zealand is to own its own future, as Phil Goff wants, we will need to learn from past mistakes…..
“…. One of the lessons we need to learn is that keeping on taxing and regulating the economy and trying to play Robin Hood with tax revenue won’t attract more investment into the productive side of the economy.”

Michael Barnett, chief executive of the Auckland Chamber of Commerce was commenting on Labour Leader Phil Goff’s capital gains tax announcement.

Mr Goff says New Zealand is drifting without a plan. Debt is out of control. The economy is not performing and record numbers of New Zealanders are leaving permanently.

“If Labour had unveiled a comprehensive tax package to broaden the tax base as part of overall plan to address these issues, it might have had more merit,” said Mr Barnett.

“As I have said before, a plan for New Zealand would be a plan to lift growth, a plan to attract investment into productive ventures, a plan to encourage innovative Kiwis to create commercial ventures and lift export growth, a plan to increase the number of big, medium and small businesses creating opportunities for employment.

“Just unveiling yet another tax – half of which will be directed to offset taxes of low income earners - doesn’t seem to be plan for getting investment into the productive side of the economy. It is disappointing that once again our politicians are letting the side down.”