Second budget in August

Press, 30 July 1985, Page 8

Second budget in August

By MICHAEL HANNAH in Wellington The Government has confirmed an August presentation for its second Budget statement, including details of tax cuts and social welfare reforms to accompany the goods and services tax. An August date was predicted in “The Press” last week after the Minister of Finance, Mr Douglas, said

he would announce the GST rate next month. “The Press” was then told that the’ tax cuts details would be announced about the same time as the GST rate. The Prime Minister, Mr Lange, confirmed yesterday that the second Budget statement would be presented in August, but he refused to name a specific date.

However, it would have to be between August 6 and August 22, the only sitting days for Parliament next month. Thursday, August 22, may be favoured if the Government wants to leave Parliamentary debate of the tax announcements until after the Labour Party conference in Christchurch at the end of August. But some debate of GST

is unavoidable as GST legislation will also be introduced next month, possibly including the rate of GST. Mr Lange denied that the August timing of the second Budget was related to the Labour Party conference. He said the timing was determined by the need to have the GST administration set up as early as possible.