LESS SPENDING OR TAX STAYS
(N.Z. Press Association) WELLINGTON, Mar. 12. The 10 per cent surcharge on personal income tax, due to be lifted automatically at the end of July, might remain or even be increased, the Minister of Finance (Mr Muldoon) said today. Opening a new Inland Revenue office at Otahuhu today, Mr Muldoon said: “If Government spending can be held to a reasonable level this surcharge will come off. “If Government spending cannot be held this surcharge will have to remain or, if the worst happens, even be increased.
“This is why I and my colleagues are waging a fight at this moment to curtail all unnecessary Government spending. “We will not and we must not be moved by the clamour of pressure groups who can see no further than their own limited field of interest The health of the economy of this country is far more important than the short-term disappointments of pressure groups. “This is the only message that a responsible Government can give to the people,” Mr Muldoon said.
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Bibliographic details
Press, Volume CXI, Issue 32554, 13 March 1971, Page 3
Word Count
174LESS SPENDING OR TAX STAYS Press, Volume CXI, Issue 32554, 13 March 1971, Page 3
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