Mr Tizard sees case for tax cut

Press, Volume CXV, Issue 33783, 4 March 1975, Page 1

Mr Tizard sees case for tax cut

(New Zealand Press Association/ WELLINGTON, March 3. The Minister of Finance (Mr Tizard) said today ■ that he thought a case for personal tax cuts existed.

Inflation had increased the Government’s share, but on the other hand those who were already on the maximum tax rate were not paying any more than they had been previously, he said.

Mr Tizard told a pressl [conference that he had asked! I for a number of reports on! 1 I tax matters, but there was I ;no question of any an-I nouncement yet. The Government was not 1 only being asked to give tax. cuts, but was being asked to increase its spending — by the National Roads Board, the farmers, the building industry, and the students who wanted higher bursaries, he ' said. But, Mr Tizard said, for economic reasons he would like to avoid making any I

I cost-of-living wage increases! ■which were related directlyl |to the cost-of-living index, i The Government was look-1 ing very carefully at howl assistance could be given,! and where it should be; directed, he said. The “perks review” — an! investigation of tax loop-! holes available to execu- j tives — was still in its in- i fancy, and the Minister said! he did not know when it would be completed. A clear average pattern! would have to be compiled! before any legislation could; be drawn up, he said.