Business tax reform looks almost certain even though before the election, Finance Minister Michael Cullen was opposed to dropping the rate from 33 to 30 cents in the dollar.
Revenue Minister Peter Dunne says there are significant challenges for business tax reform, but they must be met if the country is to remain internationally competitive.
He says the economy is in for a rocky road ahead with inflationary pressures, slow growth and an export/import imbalance. However, he says income growth is still strong, business balance sheets are good and the property market is booming.
Peter Dunne says now is not the time to slow down or abandon the drive towards business tax reform. He says Australia is already looking at tax cuts to business and individuals, and New Zealand cannot ignore what Canberra is doing.
- NEWSTALK ZB
Business tax reform looks likely
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