Whyte calls on Craig to name tax rate

ACT Leader Jamie Whyte has hit out at Colin Craig for failing to name his party's suggested flat tax rate.

"Page 9 of The Press today is an advertisement for Colin Craig's Conservative Party and their policy of having two rates of income tax: zero per cent up to $20,000 and a flat rate thereafter. But the ad does not specify the flat rate," says Dr Whyte.

"Will it be 20 per cent, 30 per cent or 40 per cent? How can anyone evaluate the policy without knowing what the flat rate will be?

"As I have previously explained, if no reduction in income tax revenues is planned, the flat rate above $20,000 would need to be 34 per cent. This would entail a tax increase for everyone earning over $36,000, with those earning between $40,000 and $70,000 hit hardest.

"It is amazing that Craig thinks he can proceed in this way. Imagine a bank approached you and said they had a great deal for you on your $200,000 mortgage on which you are now paying six per cent. Transfer it to them and you will pay two rates: zero per cent on the first $100,000 and some other unspecified rate on next $100,000.

"Without being told what the rate charged on that second $100,000 is, only an idiot would even consider taking the offer. And only a company banking on the stupidity of its customers would make such an offer.

"On TV3's The Nation on Saturday morning, Colin Craig says ACT and the Conservatives were not chasing the same voters. He is right. Whereas he seeks votes from the terminally gullible, we seek votes from the economically literate."

Source: Office of Jamie Whyte.

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