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Government out of touch on foreign trusts

John Key’s poor handling of the foreign trusts issue is starkly revealed in a poll today which shows the majority of Kiwis are worried about the country being a tax haven and almost half think the issue has been badly managed, Labour’s Finance Spokesperson Grant Robertson says.

“Today’s UMR poll shows just how out of touch with middle New Zealand’s values the Government has become. New Zealanders believe in a system where everyone pays their fair share and yet when the world’s mega-rich hide their wealth here to avoid their tax obligations, John Key just shrugs his shoulders.

“He has shown himself to be on the side of the greedy few, damaging our international reputation and making it harder for New Zealand to make the case to crack down on multinational corporates who don’t pay their fair share here.

“Labour has called for a full, public enquiry into tax avoidance and evasion to ensure that people who work hard and do the right thing are not carrying the can for those who will not pay their fair share, here or overseas.

“The Government may have lost its moral compass on this issue, but New Zealanders haven’t. When only one in five thinks they’re handling the issue well, it’s time to rethink, and fix the problem properly,” Grant Robertson says.