Wednesday, November 04, 2009

Nats miss golden opportunity

English was always going to be cornered on CGT. Spouted the party line - we will look at it - not as Espiner suggests it is a happening thing.

The issue I take out of it is, like JC says, bringing the spend down. JC is possibly suggesting lift GDP so the spend drops to around 30%.

My take is gut the spend by implementing a proper tax schedule and stop tinkering at the edges with likes of CGT. As one loophole is closed, another will open. CGT is already covered and a rental business is like any other business.

The NATs have no intention of reducing spend, they have said all along tax changes must be fiscally neutral. Therein lies the problem. A worldwide recession opportunity to gut government spending on all fronts has slid through their hands.

A comment I have just made over at HP on the TVNZ7 Economy program.

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