The need to boost savings and investment and foster productivity will be the theme of a speech by Finance Minister Bill English next month.
National Party Mt Roskill MP Dr Jackie Blue is hosting the dinner meeting on December 1 at the Commerce Club of Auckland (27/33 Ohinerau Street) in Remuera.
Tickets for the meeting, priced at $50 per person are now available.
While the Government is borrowing heavily to accentuate economic growth, promote infrastructure development, and provide essential services, the need for private savings is more pronounced today than ever before.
Economic recovery cannot be achieved by traditional methods of borrowing, consumption and retail spending.
Mr English said New Zealanders understand our need to rebalance the economy away from debt and spending towards savings and investment.
“The Government’s economic programme, including the tax package, aims to achieve that objective over the next few years in order to register faster growth and provide sustainable jobs,” he said.
The Tax packages introduced by the Government on Oct 1, 2010 are an important part of John Key led National’s plan to boost growth, create jobs and raise incomes.
The Government forecasts place economic growth at 3.2% for the current financial year. Approximately 73% of the income earners will face a top income tax rate of 17.5% or less and 170,000 new jobs are expected to be created in the next four years.
Notwithstanding the GST increase from 12.5% to 15% and a general rise in prices, the average after-tax income will increase by 1.2% over the next three months.
Personal tax cuts are intended to attract overseas skilled workers and retain local talent. The Government wants an internationally competitive tax system and the goal is to cut the company tax rate from 30% to 28%, effective from April 1, 2011.
Mr English will explain in detail these proposals at the dinner meeting.
Ram Rai is the Deputy Regional Chair of the National Party in the Northern Region and Chairman of the Party’s Mt Roskill Electorate.
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What: Speech on Tax Reforms for Economic Growth By Whom: Finance Minister Bill English Organised by: National MP Dr Jackie Blue Where: The Commerce Club of Auckland 27 Ohinerau Street, Remuera When: Saturday, December 1, 2010 at 6 pm Tickets: $50 per person including dinner Contact: Ram Rai on 021-655922 Email: ramrai1@xtra.co.nz. |
